MN SF22

Amends Minnesota Statutes section 290.0132, subdivision 26 to allow taxpayers to subtract the full amount of Social Security benefits received from their state taxable income

Eliminates the current income-based phaseout thresholds that reduced the subtraction for married joint filers above $100,000 AGI and single/head of household filers above $78,000 AGI

Removes the existing maximum subtraction caps of $5,840 for married joint filers and $4,560 for single/head of household filers

Replaces the complex simplified and alternate subtraction calculation system with a single unlimited subtraction for all Social Security benefits

Effective for taxable years beginning after December 31, 2024