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S.F. No. 32 - Subtraction for Military Retirement Pay
 
Author: Senator Paul E. Gazelka
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: April 3, 2013



 

Military retirement pay is defined and calculated under federal law.  This bill provides a Minnesota income tax subtraction for military retirement pay, to the extent included in federal taxable income. 

Section 1.  [Subtractions from federal taxable income]  Adds a subtraction for military retirement pay received for purposes of determining Minnesota income, effective beginning in tax year 2013. 

Section 2.  [Definitions]  Adds a cross-reference to the subtraction authorized in section 1 for purposes of calculating the alternative minimum tax.  Effective beginning in tax year 2013.

NBP:dv

 
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