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MN SF1203
Bill
Status
Introduced
2/6/2023
Primary Sponsor
Matt Klein
Click for details
AI Summary
- Increases the maximum credit amount per qualified beneficiary for long-term care insurance premiums from $100 to $500
- Raises the maximum total annual credit for married couples filing joint returns from $200 to $1,000
- Raises the maximum total annual credit for all other filers from $100 to $500
- Credit remains at 25 percent of premiums paid that are not deducted in determining taxable net income
- Effective for taxable years beginning after December 31, 2022
Legislative Description
Long-term care insurance credit maximum amount pert beneficiary and maximum credit amount increase authorization
Last Action
Referred to Taxes
2/6/2023
Committee Referrals
Taxes2/6/2023
Full Bill Text
No bill text available