MN SF882

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

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

Eliminates separate maximum subtraction amounts for different filing statuses: $5,150 for married joint/surviving spouses, $4,020 for single/head-of-household, and one-half the joint amount for married filing separately.

Applies to taxable years beginning after December 31, 2022.