HF154 (Legislative Session 94 (2025-2026))
Individual income tax; first tier rate modified.
Related bill: SF1968
AI Generated Summary
This bill proposes changes to the individual income tax rates in Minnesota. It modifies the tax brackets and rates for various income levels for individuals, including married couples filing jointly, married couples filing separately, estates, trusts, unmarried individuals, and heads of households. The bill outlines different rates and income brackets for each category and specifies how these taxes should be calculated, including adjustments for partial-year residents and non-residents. The goal is to adjust tax liabilities based on different income levels.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 09, 2025 | House | Floor | Action | Introduction and first reading, referred to | Taxes |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill modifies the income tax rates under Minnesota Statutes, section 290.06.",
"modified": [
"Adjusts tax rates for different income brackets and filing statuses."
]
},
"citation": "290.06"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill refers to section 62 of the Internal Revenue Code for defining federal adjusted gross income.",
"modified": [
"Clarifies inclusion and exclusion of certain income items for non-residents."
]
},
"citation": "62"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Cites Minnesota Statutes, section 290.0131 for additions to federal adjusted gross income.",
"modified": [
"Outlines which sections of the statute impact adjustments to income."
]
},
"citation": "290.0131"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Cites Minnesota Statutes, section 290.0132 for subtractions from federal adjusted gross income.",
"modified": [
"Specifies relevant subdivisions impacting income computation."
]
},
"citation": "290.0132"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill refers to Minnesota Statutes, section 290.0137 for certain adjustments.",
"modified": [
"Relates to other specific tax adjustments."
]
},
"citation": "290.0137"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References allocation and assignability provisions under Minnesota Statutes, section 290.081.",
"modified": [
"Clarifies how to allocate income for non-residents."
]
},
"citation": "290.081"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill refers to Minnesota Statutes, section 290.17 regarding allocation provisions.",
"modified": [
"Explains tax allocation for non-resident individuals."
]
},
"citation": "290.17"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Section 289A.08 is mentioned in relation to payments of taxes by qualifying entities.",
"modified": [
"Details compliance for electing entities and owners."
]
},
"citation": "289A.08"
}
]