MN HF3752

Allows an unlimited subtraction for taxable Social Security benefits received by Minnesota taxpayers, replacing the current limited subtraction amounts.

Removes the maximum subtraction caps of $5,150 for joint filers and $4,020 for single filers, though phase-out limits based on provisional income remain in effect.

Maintains different phase-out thresholds by filing status: $78,180 for joint filers, $61,080 for single/head-of-household filers, and one-half those amounts for married filing separately.

Effective for taxable years beginning after December 31, 2021.

Amends Minnesota Statutes 2020, section 290.0132, subdivision 26.