| |
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. 2015 - Income tax rate reduction and bracket update (as proposed to be amended by the A-2 amendment)
|
| |
|
Author:
|
Senator Roger C. Chamberlain
|
| |
|
Prepared By:
|
Nora Pollock, Senate Counsel (651/297-8066)
|
| |
|
Date:
|
March 20, 2017
|
|
|
|
| |
|
This bill reduces the first tier individual income tax rate from 5.25 percent to 4.85 percent, effective beginning in tax year 2018.
Under current law, the income brackets are adjusted annually for inflation. This bill also updates the brackets for tax year 2018 and updates the inflation adjustment statute beginning in tax year 2019.
|
|
| |
|
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: 03/20/2017
|
| |
|
If you see any errors on this page, please e-mail us at
webmaster@senate.mn
|