Latest News
Tax Breaks for Seniors, Veterans Advance in House
Minnesota House Republicans went to work today on their pledge to give back to taxpayers a majority of the state’s nearly $1.9 billion budget surplus. Members of the House tax committee heard several GOP-backed bills to exempt Social Security income from state taxes. There are five similar House bills that would phase out the taxes senior citizens pay on their Social Security income….The bills were laid over for possible inclusion in the House omnibus tax bill. The committee also advanced a measure to exempt military retirement pay from Minnesota’s income tax. The proposed tax break would be phased in over five years. Read More…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.