summary
Introduced
02/25/2021
02/25/2021
In Committee
02/25/2021
02/25/2021
Crossed Over
Passed
Dead
05/23/2022
05/23/2022
Introduced Session
92nd Legislature 2021-2022
Bill Summary
A bill for an act relating to taxation; individual income; modifying income tax rates and brackets; amending Minnesota Statutes 2020, section 290.06, subdivisions 2c, 2d.
AI Summary
This bill modifies individual income tax rates and brackets in Minnesota. It increases the income thresholds for the different tax rate brackets and adds two new higher tax rates of 12.45% for income over $500,000 for married couples and $250,000 for single filers. The bill also adjusts the tax brackets annually for inflation starting in the 2021 tax year.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Author added Marty (on 03/04/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF1401&ssn=0&y=2021 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF1401&version=0&session=ls92&session_year=2021&session_number=0&format=pdf |
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