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Add Minnesota 2025 income tax updates and new programs #6923
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7c84e25
Add Minnesota 2025 income tax updates and new subtraction/credit prog…
DTrim99 ba130c5
Address PR review comments
DTrim99 c917013
Address PR review: parametrize child threshold and reorganize files
DTrim99 9c8f824
Add specific statutory subsection to MN K-12 education credit references
DTrim99 60310f4
Update uv.lock
DTrim99 a13c6dc
Merge branch 'master' into DTrim99/issue6920
DTrim99 6e7c908
2025 Minnesota 2025 Income Tax Changes
DTrim99 facc4c4
Merge branch 'DTrim99/issue6920' of https://github.com/DTrim99/policy…
DTrim99 5660666
Merge branch 'master' into DTrim99/issue6920
DTrim99 44ad56e
Fix MN military subtraction statute references and add K12 tests
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,4 @@ | ||
| - bump: minor | ||
| changes: | ||
| added: | ||
| - Minnesota 2025 income tax parameter updates and new programs including K-12 Education Credit/Subtraction, 529 Contribution Subtraction, Military Pension Subtraction, and Active Duty Military Pay Subtraction. |
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13 changes: 13 additions & 0 deletions
13
...engine_us/parameters/gov/states/mn/tax/income/credits/k12_education/amount_per_child.yaml
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,13 @@ | ||
| description: Minnesota provides this maximum K-12 Education Credit amount per qualifying child. | ||
| values: | ||
| 2021-01-01: 1_500 | ||
|
|
||
| metadata: | ||
| period: year | ||
| unit: currency-USD | ||
| label: Minnesota K-12 Education Credit amount per child | ||
| reference: | ||
| - title: 2025 Schedule M1ED, Line 12 instructions | ||
| href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1ed-25.pdf | ||
| - title: Minnesota Statutes 290.0674 Minnesota Education Credit | ||
| href: https://www.revisor.mn.gov/statutes/cite/290.0674 |
13 changes: 13 additions & 0 deletions
13
policyengine_us/parameters/gov/states/mn/tax/income/credits/k12_education/expense_rate.yaml
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,13 @@ | ||
| description: Minnesota allows this percentage of qualifying K-12 education expenses as a credit. | ||
| values: | ||
| 2021-01-01: 0.75 | ||
|
|
||
| metadata: | ||
| period: year | ||
| unit: /1 | ||
| label: Minnesota K-12 Education Credit expense rate | ||
| reference: | ||
| - title: 2025 Schedule M1ED, Line 11 | ||
| href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1ed-25.pdf | ||
| - title: Minnesota Statutes 290.0674 Minnesota Education Credit | ||
| href: https://www.revisor.mn.gov/statutes/cite/290.0674 |
14 changes: 14 additions & 0 deletions
14
...us/parameters/gov/states/mn/tax/income/credits/k12_education/income_limit/additional.yaml
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,14 @@ | ||
| description: Minnesota increases the K-12 Education Credit income limit by this amount for each child above a certain number. | ||
| values: | ||
| 2021-01-01: 2_000 | ||
| 2024-01-01: 3_000 | ||
|
|
||
| metadata: | ||
| period: year | ||
| unit: currency-USD | ||
| label: Minnesota K-12 Education Credit income limit increment per additional child | ||
| reference: | ||
| - title: 2025 Schedule M1ED Instructions | ||
| href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1ed-25.pdf | ||
| - title: Minnesota Statutes 290.0674, Subd. 2(a) | ||
| href: https://www.revisor.mn.gov/statutes/cite/290.0674#stat.290.0674.2 |
17 changes: 17 additions & 0 deletions
17
...ngine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_limit/base.yaml
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,17 @@ | ||
| description: Minnesota sets this base income limit for the K-12 Education Credit. | ||
| values: | ||
| 2021-01-01: 37_500 | ||
| 2022-01-01: 38_660 | ||
| 2023-01-01: 41_400 | ||
| 2024-01-01: 79_760 | ||
| 2025-01-01: 81_820 | ||
|
|
||
| metadata: | ||
| period: year | ||
| unit: currency-USD | ||
| label: Minnesota K-12 Education Credit income limit base | ||
| reference: | ||
| - title: 2025 Schedule M1ED Instructions | ||
| href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1ed-25.pdf | ||
| - title: Minnesota Statutes 290.0674, Subd. 2(a) | ||
| href: https://www.revisor.mn.gov/statutes/cite/290.0674#stat.290.0674.2 |
13 changes: 13 additions & 0 deletions
13
...rameters/gov/states/mn/tax/income/credits/k12_education/income_limit/child_threshold.yaml
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,13 @@ | ||
| description: Minnesota increases the K-12 Education Credit income limit for each child above this threshold. | ||
| values: | ||
| 2021-01-01: 2 | ||
|
|
||
| metadata: | ||
| period: year | ||
| unit: person | ||
| label: Minnesota K-12 Education Credit income limit child threshold | ||
| reference: | ||
| - title: 2025 Schedule M1ED Instructions | ||
| href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1ed-25.pdf | ||
| - title: Minnesota Statutes 290.0674, Subd. 2(a) | ||
| href: https://www.revisor.mn.gov/statutes/cite/290.0674#stat.290.0674.2 |
17 changes: 17 additions & 0 deletions
17
...engine_us/parameters/gov/states/mn/tax/income/credits/k12_education/income_threshold.yaml
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,17 @@ | ||
| description: Minnesota begins phasing out the K-12 Education Credit when AGI exceeds this threshold. | ||
| values: | ||
| 2021-01-01: 33_500 | ||
| 2022-01-01: 34_540 | ||
| 2023-01-01: 36_980 | ||
| 2024-01-01: 73_890 | ||
| 2025-01-01: 75_820 | ||
|
|
||
| metadata: | ||
| period: year | ||
| unit: currency-USD | ||
| label: Minnesota K-12 Education Credit income phaseout threshold | ||
| reference: | ||
| - title: 2025 Schedule M1ED, Line 12 Worksheet | ||
| href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1ed-25.pdf | ||
| - title: Minnesota Statutes 290.0674 Minnesota Education Credit | ||
| href: https://www.revisor.mn.gov/statutes/cite/290.0674 |
13 changes: 13 additions & 0 deletions
13
...eters/gov/states/mn/tax/income/credits/k12_education/phaseout_rate_multiple_children.yaml
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,13 @@ | ||
| description: Minnesota phases out the K-12 Education Credit at this rate for filers with two or more qualifying children. | ||
| values: | ||
| 2021-01-01: 0.50 | ||
|
|
||
| metadata: | ||
| period: year | ||
| unit: /1 | ||
| label: Minnesota K-12 Education Credit phaseout rate (two or more children) | ||
| reference: | ||
| - title: 2025 Schedule M1ED, Line 12 Worksheet | ||
| href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1ed-25.pdf | ||
| - title: Minnesota Statutes 290.0674 Minnesota Education Credit | ||
| href: https://www.revisor.mn.gov/statutes/cite/290.0674 |
13 changes: 13 additions & 0 deletions
13
...us/parameters/gov/states/mn/tax/income/credits/k12_education/phaseout_rate_one_child.yaml
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,13 @@ | ||
| description: Minnesota phases out the K-12 Education Credit at this rate for filers with one qualifying child. | ||
| values: | ||
| 2021-01-01: 0.25 | ||
|
|
||
| metadata: | ||
| period: year | ||
| unit: /1 | ||
| label: Minnesota K-12 Education Credit phaseout rate (one child) | ||
| reference: | ||
| - title: 2025 Schedule M1ED, Line 12 Worksheet | ||
| href: https://www.revenue.state.mn.us/sites/default/files/2025-12/m1ed-25.pdf | ||
| - title: Minnesota Statutes 290.0674 Minnesota Education Credit | ||
| href: https://www.revisor.mn.gov/statutes/cite/290.0674 |
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