Plain English Breakdown
The plain English breakdown is still being put together. The official documents below are already here.
SF4650 • 2026
Individual income tax subtraction for income earned by senior taxpayers established
Individual income tax subtraction for income earned by senior taxpayers established
Taxes
Passed Legislature
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Bill History
-
2026-04-13
House
Author added Koran
-
2026-03-23
House
Introduction and first reading
Official Summary Text
Individual income tax subtraction for income earned by senior taxpayers established
Current Bill Text
Read the full stored bill text
A bill for an act relating to taxation; individual income; establishing a subtraction for income earned by senior taxpayers; amending Minnesota Statutes 2024, section 290.0132, by adding a subdivision. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. Minnesota Statutes 2024, section 290.0132, is amended by adding a subdivision to read: new text begin Subd. 40. new text end new text begin Senior subtraction. new text end new text begin (a) The amount of income received by a taxpayer who attained the age of 65 or older during the taxable year is a subtraction. new text end new text begin (b) For a married taxpayer filing a joint return, if either spouse attained the age of 65 or older during the taxable year, the amount of income received by the taxpayer is a subtraction. new text end new text begin (c) For the purposes of this subdivision, "income" means any income included in adjusted gross income or any amount required to be added to adjusted gross income under section 290.0131. new text end new text begin EFFECTIVE DATE. new text end new text begin This section is effective for taxable years beginning after December 31, 2025. new text end