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Senate Counsel, Research and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 1623 - Subtraction for health insurance premiums (as proposed to be amended by the A-1 amendment)
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Author:
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Senator Michelle R. Benson
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Prepared By:
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Nora Pollock, Senate Counsel (651/297-8066)
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Date:
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March 10, 2017
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As proposed to be amended, this bill provides a subtraction for the amount of health insurance premiums paid during the tax year for purposes of calculating Minnesota taxable income, and also provides a corresponding subtraction for purposes of calculating alternative minimum tax. Any amounts included in calculating federal taxable income are not eligible for the subtraction. Expenses used to claim the subtraction under the bill must not be used to claim the long term insurance credit under current law. Effective beginning in tax year 2017.
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Check on the status of this bill
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Last review or update: 03/10/2017
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