Minnesota child tax credit amount increased to $2,000 per qualifying child.

The bill increases the Minnesota child tax credit amount to $2,000 per qualifying child. It also mandates that the commissioner of revenue annually adjust the credit amount for inflation starting from taxable years after December 31, 2025. The credit amount will be rounded to the nearest $60. This change is effective for taxable years after December 31, 2025.

Minnesota child tax credit amount increased to $2,000 per qualifying child.

The bill increases the Minnesota child tax credit amount to $2,000 per qualifying child. It also mandates that the commissioner of revenue annually adjust the credit amount for inflation starting from taxable years after December 31, 2025. The credit amount will be rounded to the nearest $60. This change is effective for taxable years after December 31, 2025.