Loading chat...

MN HF4123

Bill

Official Source

Status

Introduced

3/9/2026

Primary Sponsor

Esther Agbaje

Click for details

Origin

House of Representatives

94th Legislature 2025-2026

AI Summary

  • Expands Minnesota's 1% net investment income tax to include all trade or business income that is exempt from federal self-employment taxes under IRC Section 1411(c)(6)

  • Applies to individuals, estates, and trusts with net investment income exceeding $1,000,000

  • Maintains the existing exclusion for net gains from the sale of agricultural property classified as class 2a

  • Effective for taxable years beginning after December 31, 2025

  • Amends Minnesota Statutes 2024, section 290.033

Legislative Description

Net investment income tax expanded to apply to all trade or business income that is exempt from self-employment taxes.

Last Action

Introduction and first reading, referred to Taxes

3/9/2026

Committee Referrals

Taxes3/9/2026

Full Bill Text

No bill text available