Minnesota SF22 allows unlimited subtraction of Social Security benefits from gross income for tax purposes.

Minnesota SF22 amends the state's tax code to allow an unlimited subtraction of Social Security benefits from gross income. This bill modifies the existing phaseout thresholds and maximum subtractions for different filing statuses, including married taxpayers filing jointly, single or head-of-household taxpayers, and married taxpayers filing separately. The bill also defines "provisional income" and "Social Security benefits" for tax purposes. This change is effective for taxable years beginning after December 31, 2024.

Minnesota SF22 allows unlimited subtraction of Social Security benefits from gross income for tax purposes.

Minnesota SF22 amends the state's tax code to allow an unlimited subtraction of Social Security benefits from gross income. This bill modifies the existing phaseout thresholds and maximum subtractions for different filing statuses, including married taxpayers filing jointly, single or head-of-household taxpayers, and married taxpayers filing separately. The bill also defines "provisional income" and "Social Security benefits" for tax purposes. This change is effective for taxable years beginning after December 31, 2024.