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Senate Counsel, Research and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 425 - Phased-in Subtraction of Social Security Benefits
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Author:
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Senator Warren Limmer
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Prepared By:
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Nora Pollock, Senate Counsel (651/297-8066)
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Date:
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February 21, 2017
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This bill provides a subtraction of Social Security benefits for purposes of calculating Minnesota taxable income, beginning in tax year 2017. The subtraction in 2017 is 25 percent of benefits, and the subtraction increases by 25 percentage points every year until the percentage reaches 100 percent. Also provides a corresponding subtraction for purposes of calculating Minnesota alternative minimum tax (AMT).
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Check on the status of this bill
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Back to Senate Counsel and Research Bill Summaries page
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Last review or update: 02/21/2017
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