|
Senate Counsel, Research and Fiscal Analysis
|
Minnesota Senate Bldg.
|
95 University Avenue W. Suite 3300
|
St. Paul, MN 55155
|
(651) 296-4791
|
Alexis C. Stangl
|
Director
|
|
|
Senate
|
State of Minnesota
|
|
|
|
|
|
|
|
S.F. No. 401 - Subtraction of Social Security Benefits
|
|
Author:
|
Senator David H. Senjem
|
|
Prepared By:
|
Nora Pollock, Senate Counsel (651/297-8066)
|
|
Date:
|
February 21, 2017
|
|
|
|
|
This bill provides a subtraction of Social Security benefits for purposes of calculating Minnesota taxable income, beginning in tax year 2017, in the following amounts:
2017 and 2018: 32%
2019: 43%
2020: 55%
2021: 67%
2022: 77%
2023: 89%
2024 and thereafter: 100%
The bill also provides a corresponding subtraction for purposes of calculating Minnesota alternative minimum tax (AMT).
|
|
|
Check on the status of this bill
|
|
Back to Senate Counsel and Research Bill Summaries page
|
|
|
|
This page is maintained by the Office of Senate Counsel, Research, and Fiscal Analysis for the Minnesota Senate.
|
|
Last review or update: 02/21/2017
|
|
If you see any errors on this page, please e-mail us at
webmaster@senate.mn
|