MN SF4397

Creates a one-time Minnesota income tax subtraction for unemployment compensation received in tax year 2021 (taxable years beginning after December 31, 2020, and before January 1, 2022)

Applies specifically to unemployment benefits received as a result of the Minnesota Court of Appeals decision issued February 22, 2021, in case number 20-1330

Overrides existing Minnesota Statutes section 290.0111, subdivision 5, which would otherwise govern taxation of unemployment compensation

Effective retroactively for the 2021 tax year