Establishes a subtraction for firefighter pension income in Minnesota's individual income tax.
The bill amends Minnesota Statutes to introduce a subtraction for firefighter pension income in individual income tax. This subtraction applies to annuity income or lump-sum payments from public retirement plans based on service as a firefighter. The change takes effect for taxable years beginning after December 31, 2025.
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.