Minnesota SF4830 allows a subtraction for the value of medals and prize money from the U.S. Olympic Committee.

Minnesota SF4830 amends state tax law to allow a subtraction for the value of any medal awarded or prize money received from the U.S. Olympic Committee for competition in the Olympic Games or Paralympic Games. This subtraction applies to taxable years beginning after December 31, 2025. The bill modifies the definition of alternative minimum taxable income and includes specific exclusions from federal taxable income.

Minnesota SF4830 allows a subtraction for the value of medals and prize money from the U.S. Olympic Committee.

Minnesota SF4830 amends state tax law to allow a subtraction for the value of any medal awarded or prize money received from the U.S. Olympic Committee for competition in the Olympic Games or Paralympic Games. This subtraction applies to taxable years beginning after December 31, 2025. The bill modifies the definition of alternative minimum taxable income and includes specific exclusions from federal taxable income.