MN HF100

Eliminates Minnesota state income tax on all Social Security benefits by allowing taxpayers to subtract the full amount of benefits received from their taxable income

Removes the existing income-based phaseout thresholds that previously limited the subtraction (thresholds were $100,000 for joint filers, $78,000 for single/head of household)

Eliminates the two-tier calculation system that required taxpayers to choose between a "simplified subtraction" and an "alternate subtraction" with various caps and reductions

Applies to all Minnesota taxpayers regardless of income level or filing status

Effective for taxable years beginning after December 31, 2024