Minnesota SF3132 modifies income tax rates and brackets for individuals, estates, and trusts.

Minnesota SF3132 amends the state's income tax rates and brackets. For individual taxpayers, the bill sets new rates: 5.35% for income up to $32,650, 6.8% for income between $32,650 and $131,190, 7.85% for income between $131,190 and $214,980, 9.85% for income between $214,980 and $400,000, and 12.45% for income over $400,000. For married individuals filing jointly, the rates are: 5.35% for income up to $40,100, 6.8% for income between $40,100 and $161,130, 7.85% for income between $161,130 and $264,050, 9.85% for income between $264,050 and $500,000, and 12.45% for income over $500,000.

Minnesota SF3132 modifies income tax rates and brackets for individuals, estates, and trusts.

Minnesota SF3132 amends the state's income tax rates and brackets. For individual taxpayers, the bill sets new rates: 5.35% for income up to $32,650, 6.8% for income between $32,650 and $131,190, 7.85% for income between $131,190 and $214,980, 9.85% for income between $214,980 and $400,000, and 12.45% for income over $400,000. For married individuals filing jointly, the rates are: 5.35% for income up to $40,100, 6.8% for income between $40,100 and $161,130, 7.85% for income between $161,130 and $264,050, 9.85% for income between $264,050 and $500,000, and 12.45% for income over $500,000.