Minnesota HF1563 amends tax laws to allow a subtraction for employer-provided dependent care assistance and establishes a tax credit for.

Minnesota HF1563 introduces changes to the state's tax laws by allowing a subtraction for employer-provided dependent care assistance and establishing a tax credit for employer-provided child care expenses. The subtraction for dependent care assistance is limited to $10,000 for married taxpayers filing a joint return and $5,000 for all other filers. The tax credit for employer-provided child care expenses is equal to the credit claimed under section 45F of the Internal Revenue Code, but limited to credits based on qualified child care expenses or expenditures incurred in Minnesota.

Minnesota HF1563 amends tax laws to allow a subtraction for employer-provided dependent care assistance and establishes a tax credit for.

Minnesota HF1563 introduces changes to the state's tax laws by allowing a subtraction for employer-provided dependent care assistance and establishing a tax credit for employer-provided child care expenses. The subtraction for dependent care assistance is limited to $10,000 for married taxpayers filing a joint return and $5,000 for all other filers. The tax credit for employer-provided child care expenses is equal to the credit claimed under section 45F of the Internal Revenue Code, but limited to credits based on qualified child care expenses or expenditures incurred in Minnesota.