MN SF741

Allows an unlimited subtraction for taxable Social Security benefits received by Minnesota taxpayers, eliminating the previous maximum subtraction caps.

Removes the current income-based phase-out limits that reduced the subtraction by 20 percent of provisional income over specified thresholds ($78,180 for joint filers, $61,080 for single filers).

Applies to all filing statuses: married filing jointly, single, head-of-household, and married filing separately.

Effective for taxable years beginning after December 31, 2022.