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MN SF139

Bill

Official Source

Status

Introduced

1/11/2023

Primary Sponsor

Jeff Howe

Click for details

Origin

Senate

93rd Legislature 2023-2024

AI Summary

  • Removes the cap on Social Security benefits subtraction for Minnesota individual income tax, allowing taxpayers to subtract all taxable Social Security benefits received.
  • Eliminates the previous maximum subtraction limits of $5,150 for joint filers and $4,020 for single filers.
  • Eliminates phase-out reductions based on provisional income thresholds ($78,180 for joint filers, $61,080 for single filers).
  • Applies to taxable years beginning after December 31, 2022.

Legislative Description

Unlimited Social Security subtraction permission

Last Action

Referred to Taxes

1/11/2023

Committee Referrals

Taxes1/11/2023

Full Bill Text

No bill text available