Minnesota bill proposes to reduce all income tax rates for individuals, estates, and trusts.

The bill amends Minnesota Statutes to reduce income tax rates for various filers. Married individuals filing jointly will see their tax rates adjusted to 5.35%, 6.8%, 7.85%, and 9.85% for specified income brackets. Unmarried individuals will have rates of 5.35%, 6.8%, 7.85%, and 9.85% for their brackets. Head of household filers will have rates of 5.35%, 6.8%, 7.85%, and 9.85%. Married individuals filing separately will have rates that are half of the joint filers' rates. The bill also mandates annual adjustments to tax brackets by the commissioner of revenue.

Minnesota bill proposes to reduce all income tax rates for individuals, estates, and trusts.

The bill amends Minnesota Statutes to reduce income tax rates for various filers. Married individuals filing jointly will see their tax rates adjusted to 5.35%, 6.8%, 7.85%, and 9.85% for specified income brackets. Unmarried individuals will have rates of 5.35%, 6.8%, 7.85%, and 9.85% for their brackets. Head of household filers will have rates of 5.35%, 6.8%, 7.85%, and 9.85%. Married individuals filing separately will have rates that are half of the joint filers' rates. The bill also mandates annual adjustments to tax brackets by the commissioner of revenue.