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S.F. No. 47 - Federal Conformity for Health Care Coverge of Adult Children (as proposed to be amended)
 
Author: Senator Julianne E. Ortman
 
Prepared By:
 
Date: January 19, 2011



 
Section 1.  Public Law 111-152 extended the exclusion from federal taxable income of health insurance coverage for dependents to adult children up to age 26.  Previously, a dependent child was defined as one that was under age 18, a full-time student under age 24, or disabled.  This bill conforms Minnesota law to the federal tax treatment for purposes of the individual income tax for tax year 2010 only. 
 
Section 2. Corrected Form W-2 Not Required.  Provides that employers who have already issued W-2s that reported the cost of dependent health care coverage as taxable income are not required to re-issue a corrected form.
 
 
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