WeVote
Log In

Bill

Bill

SF 2290

Income tax rates and brackets modifications provisions

2025-2026 Regular Session Introduced by Scott Dibble and 4 co-sponsors

The bill aims to modify Minnesota income tax rates and brackets, changing how different income levels are taxed.

Authors added Mohamed; Marty
#revenuedepartment #taxation-income
0
WeVote Research Nonpartisan
Bill Summary · SF 2290

Summary of Senate File 2290 (SF 2290) – Income Tax Rates and Brackets Modifications Provisions

Overview

SF 2290 is a Minnesota Senate bill focused on modifying the state's income tax rates and brackets. The document provided does not include the specific changes (e.g., exact rate adjustments or bracket thresholds); it only confirms the bill’s general aim to modify income tax rates and brackets and its introductory status.

Purpose and Intent

  • To modify Minnesota’s income tax rates and bracket structure.
  • Intended impact categories (inferred from the bill title) likely include changes to how income is taxed across different taxpayer tiers and potential adjustments to thresholds, but no explicit provisions are detailed in the provided text.

Key Provisions (as described)

  • The bill proposes changes to the income tax rates and brackets used for calculating Minnesota state income tax.
  • Specific provisions (rates, bracket thresholds, inflation adjustments, applicability to individuals vs. joint filers, etc.) are not included in the provided information.

Note: Because the excerpt does not include the bill’s text, the exact changes, effective dates, sunset provisions, or interaction with other tax credits/deductions are not known here.

Affected Parties and Agencies

  • Primary: Minnesota individual and potentially corporate income taxpayers who file with the Minnesota Department of Revenue.
  • Governmental entity: Minnesota Department of Revenue would administer any revised rates/brackets and associated forms and instructions.
  • Other stakeholders may include tax preparers and employers, depending on how changes interact with withholding.

Procedural and Timeline Details

  • Introduction: March 10, 2025.
  • Status: Referred to the Taxes committee (scheduled for review in the Senate, pending hearings and amendments).
  • Legislative actions:
    • 2025-03-10: Introduction and first reading; referred to Taxes.
    • 2025-03-17: Authors added Mohamed; Marty.
  • Sponsors:
    • Primary sponsor: Senator McEwen.
    • Authors added: Senators Mohamed and Marty (as of 3/17/2025).
  • Related companion: HF 1958 (House File 1958) — the companion bill in the House, indicating a cross-chamber effort to enact similar changes.

Relationship to Companion Bill

  • HF 1958 is listed as a companion bill, suggesting parallel or identical provisions introduced in the House of Representatives. Tracking both SF 2290 and HF 1958 can provide synchronized opportunities for passage or negotiations.

Potential Fiscal and Policy Implications (General)

  • Tax revenue: Changes to rates/brackets could increase or decrease state revenue depending on the direction and structure of the modifications.
  • Tax incidence: Alterations may shift the relative tax burden among income groups.
  • Administrative impact: The Department of Revenue would implement new brackets and rates, potentially affecting withholding, estimated payments, and filing instructions.
  • Economic considerations: Depending on the design, the changes could influence consumer behavior and overall economic activity.

Next Steps for Interested Readers

  • Monitor committee hearings and amendments in the Senate Taxes committee.
  • Review the full bill text when released for detailed provisions (rates, bracket thresholds, effective dates, applicability, and interaction with credits).
  • Compare SF 2290 with HF 1958 to understand House-Senate alignment and potential compromise.
  • Look for fiscal notes or analyses from the Minnesota Department of Revenue or state fiscal staff for projected revenue and distributional effects.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.