as introduced - 92nd Legislature (2021 - 2022) Posted on 04/09/2021 12:53pm
A bill for an act
relating to taxation; income; conforming to CARES Act special rules for certain
retirement funds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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This section applies for the purpose of calculating:
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(1) net income, as defined in Minnesota Statutes, section 290.01, subdivision 19;
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(2) income, as defined in Minnesota Statutes, section 290.0674, subdivision 2a;
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(3) alternative minimum taxable income, as defined in Minnesota Statutes, section
290.091, subdivision 2;
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(4) alternative minimum taxable net income, as defined in Minnesota Statutes, section
290.0921, subdivision 2; and
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(5) income, as defined in Minnesota Statutes, section 290A.03, subdivision 3.
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"Internal Revenue Code" has the meaning given in Minnesota
Statutes, section 290.01, subdivision 31, as amended through the date specified in that
subdivision, but including the following amendments providing for exclusion from gross
income under sections 2202 and 2203 of the CARES Act, Public Law 116-136.
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This section is effective retroactively at the same time the
provisions of federal law specified in subdivision 2 were effective for federal purposes.
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