MN HF4388

Establishes a 20 percent income tax subtraction for net earnings from self-employment derived from operating a licensed in-home day care.

Applies to licensed family day care or group family day care operations as defined in Minnesota Rules, part 9502.0315, subparts 11 and 13.

Defines "qualified in-home day care income" as a taxpayer's net earnings from self-employment from an in-home day care, using the definition from Internal Revenue Code section 1402.

Effective for taxable years beginning after December 31, 2019.