Minnesota lawmakers say a $352 million mistake in a recently passed tax bill shouldn’t affect residents, as long as they update the tax bill in the 2024 legislative session.
In 2019, lawmakers doubled the standard deduction and set the amount for a married joint filer at $24,400 and a single filer at $12,200. The law directs the commissioner for each subsequent year to adjust those amounts for inflation. After four years of inflation adjustments, the 2023 standard deduction for a married joint filer is $27,650 and $13,825 for a single filer.
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