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Minnesotans to see adjusted standard deductions for taxes

By Jim Johnson Feb 26, 2024 | 4:25 PM

(KNOX) –

Minnesota Governor Tim Walz has signed his first bill of the 2024 legislative session.

It’s an inflation correction that will adjust standard deduction amounts for tax year 2023… and save Minnesota taxpayers about $350 million next year.

Under this bill, the standard deduction amount for 2023 will be adjusted to $27,650 for married joint or surviving spouse filers… $20,800 for head of household filers… and $13,825 for all other filers.

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