MN SF2011

Allows Minnesota taxpayers to subtract 100% of their Social Security benefits from state taxable income, regardless of income level

Eliminates the current income-based phaseout thresholds that reduced the subtraction for taxpayers with adjusted gross income above $100,000 (married filing jointly), $78,000 (single/head of household), or $50,000 (married filing separately)

Removes the alternate subtraction calculation with maximum caps of $5,840 (joint filers) and $4,560 (single/head of household)

Amends Minnesota Statutes 2024, section 290.0132, subdivision 26

Effective for taxable years beginning after December 31, 2024