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Bill > SF3620
MN SF3620
MN SF3620Social Security and other retirement benefits unlimited income tax subtraction authorization
summary
Introduced
02/27/2020
02/27/2020
In Committee
02/27/2020
02/27/2020
Crossed Over
Passed
Dead
05/17/2020
05/17/2020
Introduced Session
91st Legislature 2019-2020
Bill Summary
Social Security and other retirement benefits unlimited income tax subtraction authorization
AI Summary
This bill expands the income tax subtraction for Social Security and other retirement benefits in Minnesota. It removes the current limits and caps on the subtraction, allowing taxpayers to subtract the full amount of their taxable Social Security benefits as well as the total taxable amount received from various government and private pension, annuity, and retirement savings plans. The changes are effective for tax years beginning after December 31, 2019.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Referred to Taxes (on 02/27/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3620&ssn=0&y=2019 | 02/27/2020 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF3620&version=0&session=ls91&session_year=2020&session_number=0&format=pdf | 02/27/2020 |
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