Individual income tax subtraction for income earned by senior taxpayers established

Summary

The bill adds a new subtraction to Minnesota's individual income tax code that removes the income of seniors (age 65+) from their taxable income. It applies to single seniors and to married couples where either spouse is 65 or older. The change takes effect for taxable years beginning after December 31, 2025.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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