Minnesota HF3998 establishes a subtraction for income earned by individuals 17 and younger.
Minnesota HF3998 amends the state's tax code to create a subtraction for income earned by individuals aged 17 and younger. This subtraction applies to any income included in adjusted gross income or any amount required to be added to adjusted gross income. For dependents, the subtraction is limited to earned income, the amount added to adjusted gross income, and the lesser of unearned income included in adjusted gross income. This change is effective for taxable years beginning after December 31, 2025.
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