as introduced - 88th Legislature (2013 - 2014) Posted on 03/06/2013 05:51pm
|Introduction||Posted on 01/14/2013|
A bill for an act
relating to taxation; income; military service credit; modifying income-based
reduction; amending Minnesota Statutes 2012, section 290.0677, subdivision 1a.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2012, section 290.0677, subdivision 1a, is amended to
(a) A qualified individual is
allowed a credit against the tax imposed under this chapter for past military service. The
credit equals $750. The credit allowed under this subdivision is reduced by deleted text begintendeleted text endnew text beginnew text end percent
of adjusted gross income in excess of $30,000, but in no case is the credit less than zero.
(b) For a nonresident or a part-year resident, the credit under this subdivision
must be allocated based on the percentage calculated under section 290.06, subdivision
2c, paragraph (e).
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