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S.F. No. 2015 - Income tax rate reduction and bracket update (as proposed to be amended by the A-2 amendment)
 
Author: Senator Roger C. Chamberlain
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: March 20, 2017



 

This bill reduces the first tier individual income tax rate from 5.25 percent to 4.85 percent, effective beginning in tax year 2018.

Under current law, the income brackets are adjusted annually for inflation. This bill also updates the brackets for tax year 2018 and updates the inflation adjustment statute beginning in tax year 2019.

 
Check on the status of this bill
 
Back to Senate Counsel and Research Bill Summaries page
 

 
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