Unlimited Social Security subtraction permission

This bill removes limits on deducting Social Security benefits from Minnesota state taxable income. It eliminates current phaseout thresholds and maximum subtraction amounts for taxpayers receiving Social Security benefits, meaning all Social Security income can now be subtracted without reduction based on income level. The change directly affects Minnesota residents who file state income tax returns and receive Social Security benefits, including married couples, singles, and heads of household. The policy change takes effect for tax years beginning after December 31, 2024.