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Bill > HF1515
MN HF1515
MN HF1515Individual income tax provisions modified, and all individual income tax rates reduced by one percentage point.
summary
Introduced
02/09/2023
02/09/2023
In Committee
02/09/2023
02/09/2023
Crossed Over
Passed
Dead
05/20/2024
05/20/2024
Introduced Session
93rd Legislature 2023-2024
Bill Summary
A bill for an act relating to taxation; individual income; reducing all individual income tax rates by one percentage point; amending Minnesota Statutes 2022, section 290.06, subdivisions 2c, as amended, 2d.
AI Summary
This bill reduces all individual income tax rates in Minnesota by one percentage point. It modifies the income tax brackets and rates for married individuals filing joint returns, unmarried individuals, and unmarried individuals qualifying as head of household. The bill also adjusts the inflation-based bracket changes to begin in 2023 instead of 2019. These changes are effective for taxable years beginning after December 31, 2022 and 2023, respectively.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Author added Schultz (on 02/13/2023)
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=House&f=HF1515&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF1515&version=0&session=ls93&session_year=2023&session_number=0&format=pdf |
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