Expands the long-term care insurance credit in Minnesota for policy premiums paid.

Minnesota HF2176 amends the long-term care insurance credit to increase the allowable credit for policy premiums paid. The credit now equals 25 percent of the premiums paid, up to a maximum of $250 for each qualified beneficiary. For married couples filing jointly, the maximum credit is $500 per year. The credit is effective for taxable years beginning after December 31, 2024.

Expands the long-term care insurance credit in Minnesota for policy premiums paid.

Minnesota HF2176 amends the long-term care insurance credit to increase the allowable credit for policy premiums paid. The credit now equals 25 percent of the premiums paid, up to a maximum of $250 for each qualified beneficiary. For married couples filing jointly, the maximum credit is $500 per year. The credit is effective for taxable years beginning after December 31, 2024.