summary
Introduced
03/06/2023
03/06/2023
In Committee
03/06/2023
03/06/2023
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 income tax rates by 3.25 percentage points; amending Minnesota Statutes 2022, section 290.06, subdivisions 2c, as amended, 2d.
AI Summary
This bill proposes to reduce all individual income tax rates in Minnesota by 3.25 percentage points. Specifically, it amends the state's income tax rate schedules to lower the rates across all tax brackets for married couples filing jointly, unmarried individuals, and heads of household. The bill also updates the inflation adjustment provisions to reflect the new tax year. These changes would be effective for tax years beginning after December 31, 2022.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Referred to Taxes (on 03/06/2023)
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=Senate&f=SF2644&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF2644&version=0&session=ls93&session_year=2023&session_number=0&format=pdf |
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