Minnesota SF1852 expands the dependent care credit and establishes the Great Start child care credit.

Minnesota SF1852 amends the state's tax code to expand the dependent care credit and establish the Great Start child care credit. The bill modifies the credit percentage based on adjusted gross income, with reductions for higher incomes. It introduces a deemed employment-related expenses amount for children cared for by a licensed family day care home operated by the child's parent. The bill also increases the credit limit for taxpayers with young children and adjusts the credit for married couples filing separate returns.

Minnesota SF1852 expands the dependent care credit and establishes the Great Start child care credit.

Minnesota SF1852 amends the state's tax code to expand the dependent care credit and establish the Great Start child care credit. The bill modifies the credit percentage based on adjusted gross income, with reductions for higher incomes. It introduces a deemed employment-related expenses amount for children cared for by a licensed family day care home operated by the child's parent. The bill also increases the credit limit for taxpayers with young children and adjusts the credit for married couples filing separate returns.