Minnesota HF2197 eliminates the child credit marriage penalty and increases the phaseout, while limiting the working family credit to taxpayers with.

Minnesota HF2197 amends the state's individual income tax laws to eliminate the child credit marriage penalty and increase the phaseout for certain credits. It also limits the working family credit based on earned income to taxpayers with qualifying children. The bill adjusts the credit amounts and phaseout thresholds annually for inflation. The changes apply to taxable years beginning after December 31, 2024.

Minnesota HF2197 eliminates the child credit marriage penalty and increases the phaseout, while limiting the working family credit to taxpayers with.

Minnesota HF2197 amends the state's individual income tax laws to eliminate the child credit marriage penalty and increase the phaseout for certain credits. It also limits the working family credit based on earned income to taxpayers with qualifying children. The bill adjusts the credit amounts and phaseout thresholds annually for inflation. The changes apply to taxable years beginning after December 31, 2024.