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S.F. No. 401 - Subtraction of Social Security Benefits
 
Author: Senator David H. Senjem
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: February 21, 2017



 

This bill provides a subtraction of Social Security benefits for purposes of calculating Minnesota taxable income, beginning in tax year 2017, in the following amounts:

2017 and 2018: 32%

2019: 43%

2020: 55%

2021: 67%

2022: 77%

2023: 89%

2024 and thereafter: 100%

The bill also provides a corresponding subtraction for purposes of calculating Minnesota alternative minimum tax (AMT).

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

 
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