as introduced - 86th Legislature (2009 - 2010) Posted on 02/15/2010 03:57pm
A bill for an act
relating to taxation; eliminating the income-based reduction of the individual
income tax credit for prior military service; amending Minnesota Statutes 2008,
section 290.0677, subdivision 1a.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2008, 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. deleted text beginThe credit allowed under this subdivision is reduced by ten percent of
adjusted gross income in excess of $30,000, but in no case is the credit less than zero.
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(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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