Minnesota HF236 allows full subtraction of taxable Social Security benefits for veterans and surviving spouses.

Minnesota HF236 amends the state's tax code to provide a full subtraction of taxable Social Security benefits for veterans and surviving spouses. This means that the full amount of Social Security benefits received by these individuals will be subtracted from their taxable income, potentially reducing their state tax liability. The bill specifies that this subtraction applies regardless of other provisions that might limit the amount of Social Security benefits that can be subtracted. This change is effective for taxable years beginning after December 31, 2024.

Minnesota HF236 allows full subtraction of taxable Social Security benefits for veterans and surviving spouses.

Minnesota HF236 amends the state's tax code to provide a full subtraction of taxable Social Security benefits for veterans and surviving spouses. This means that the full amount of Social Security benefits received by these individuals will be subtracted from their taxable income, potentially reducing their state tax liability. The bill specifies that this subtraction applies regardless of other provisions that might limit the amount of Social Security benefits that can be subtracted. This change is effective for taxable years beginning after December 31, 2024.