Bill > HF3619

This bill removes the existing limits and phaseouts on the subtraction for taxable Social Security benefits received by Minnesota taxpayers. Specifically, the bill eliminates the maximum subtraction amounts, the income thresholds at which the subtraction begins to phase out, and the formulas for calculating the reduced subtraction. As a result, taxpayers will be able to subtract the full amount of their taxable Social Security benefits from their Minnesota taxable income, regardless of their income level.