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MN SF3175

Bill

Official Source

Status

Introduced

3/30/2023

Primary Sponsor

Jim Abeler

Click for details

Origin

Senate

93rd Legislature 2023-2024

AI Summary

  • Reduces individual income tax rates under Minnesota Statutes, chapter 290 by one percentage point across all filing statuses for taxable years beginning after December 31, 2022 and before January 1, 2025.

  • Lowers the 5.35 percent tax bracket to 4.35 percent for all filing statuses.

  • Lowers the 6.8 percent tax bracket to 5.8 percent for all filing statuses.

  • Lowers the 7.85 percent tax bracket to 6.85 percent for all filing statuses.

  • Lowers the 9.85 percent tax bracket to 8.85 percent for all filing statuses.

Legislative Description

Temporary reduction of individual income tax rates by one percentage point

Last Action

Referred to Taxes

3/30/2023

Committee Referrals

Taxes3/30/2023

Full Bill Text

No bill text available