Unlimited Social Security taxation subtraction allowance

Minnesota's SF 104 bill removes income-based limits on deducting Social Security benefits from state taxable income. Previously, taxpayers could only subtract a capped amount (e.g., $5,840 for joint filers) that phased out at higher incomes. This bill allows all Social Security benefits received to be fully deducted without these caps, directly affecting Minnesota taxpayers receiving Social Security income. The change takes effect for tax years beginning after December 31, 2024.