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S.F. No. 1623 - Subtraction for health insurance premiums (as proposed to be amended by the A-1 amendment)
 
Author: Senator Michelle R. Benson
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: March 10, 2017



 

As proposed to be amended, this bill provides a subtraction for the amount of health insurance premiums paid during the tax year for purposes of calculating Minnesota taxable income, and also provides a corresponding subtraction for purposes of calculating alternative minimum tax. Any amounts included in calculating federal taxable income are not eligible for the subtraction. Expenses used to claim the subtraction under the bill must not be used to claim the long term insurance credit under current law. Effective beginning in tax year 2017.

 
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