summary
Introduced
02/03/2022
02/03/2022
In Committee
02/03/2022
02/03/2022
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; lowering individual income tax rates; amending Minnesota Statutes 2020, section 290.06, subdivision 2d; Minnesota Statutes 2021 Supplement, section 290.06, subdivision 2c.
AI Summary
This bill proposes to lower individual income tax rates in Minnesota. Specifically, it reduces the tax rates on the various income brackets, with the top rate being reduced from 9.85% to 7%. The bill also adjusts the income thresholds for the different tax brackets to account for inflation. These changes will take effect for taxable years beginning after December 31, 2021.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Author added Matthews (on 02/10/2022)
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=SF2758&ssn=0&y=2021 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF2758&version=0&session=ls92&session_year=2022&session_number=0&format=pdf |
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