MN SF2898

Allows a subtraction for Social Security benefits included in federal taxable income when calculating Minnesota state income tax for individuals, estates, and trusts.

Adds Social Security benefits as clause (19) to the list of subtractions from federal taxable income under Minnesota Statutes section 290.01, subdivision 19b.

Updates the alternative minimum tax definition to exclude Social Security benefits from alternative minimum taxable income under section 290.091, subdivision 2.

Effective for taxable years beginning after December 31, 2013.