Minnesota bill SF4622 aligns state income tax law with federal law to exclude employer contributions to Trump accounts from gross income.
Minnesota bill SF4622 amends state tax law to conform with federal law by excluding employer contributions to Trump accounts from gross income. This change ensures that employer contributions to Trump accounts are not included in the state's taxable income, mirroring the federal exclusion. The bill modifies Minnesota Statutes 2024, section 290.01, subdivision 31, to include the federal exclusion from gross income for these contributions.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.