Minnesota HF2339 raises the income threshold for the child tax credit and adjusts it annually for inflation.

Minnesota HF2339 amends the state's tax code to increase the income threshold for the child tax credit. For married taxpayers filing jointly, the threshold rises from $35,000 to $45,490. For all other filers, it increases from $29,500 to $38,340. The bill also mandates annual inflation adjustments to these thresholds starting from taxable years beginning after December 31, 2025. The commissioner of revenue is responsible for these adjustments, rounding the amounts to the nearest $60.

Minnesota HF2339 raises the income threshold for the child tax credit and adjusts it annually for inflation.

Minnesota HF2339 amends the state's tax code to increase the income threshold for the child tax credit. For married taxpayers filing jointly, the threshold rises from $35,000 to $45,490. For all other filers, it increases from $29,500 to $38,340. The bill also mandates annual inflation adjustments to these thresholds starting from taxable years beginning after December 31, 2025. The commissioner of revenue is responsible for these adjustments, rounding the amounts to the nearest $60.