MN HF2454

Updates Minnesota's Internal Revenue Code reference from April 14, 2011 to December 20, 2013, conforming state tax law to federal changes made through that date for taxable years beginning after December 31, 2012.

Eliminates several temporary tax additions and provisions effective before 2013, including provisions related to standard deduction adjustments, unemployment compensation, tuition deductions, and teacher expense deductions.

Adds new subtractions from taxable income for limitations on itemized deductions and phaseout of personal exemptions under federal law, and creates a new "state itemized deduction" definition.

Removes sales tax on repair and maintenance services for electronic equipment, commercial machinery, and warehousing services, effective retroactively for purchases after June 30, 2013, with a refund mechanism for purchasers.

Adds sales tax exemption for telecommunications and pay television services machinery and equipment purchased or leased by service providers for provision of retail services.