Minnesota HF377 establishes a two-year income tax holiday for eligible teachers.

Minnesota HF377 creates a two-year exemption from individual income tax for eligible teachers. This exemption applies to taxable years starting after December 31, 2024, and before January 1, 2027. To qualify, teachers must have worked at least 1,000 hours in Minnesota and had an adjusted gross income not exceeding $95,000 for single filers or $190,000 for married joint filers. Eligible teachers may still file a return if they have a refundable credit exceeding their tax liability.

Minnesota HF377 establishes a two-year income tax holiday for eligible teachers.

Minnesota HF377 creates a two-year exemption from individual income tax for eligible teachers. This exemption applies to taxable years starting after December 31, 2024, and before January 1, 2027. To qualify, teachers must have worked at least 1,000 hours in Minnesota and had an adjusted gross income not exceeding $95,000 for single filers or $190,000 for married joint filers. Eligible teachers may still file a return if they have a refundable credit exceeding their tax liability.