State Tax Day - Current, S.4, Minnesota—Corporate, Personal Income Taxes: OBBBA Provisions May Require Adjustments to Income on State Returns, (Nov 4, 2025)

Taxpayers may need to make adjustments to income on their Minnesota returns because the state has not adopted the federal provisions enacted in the 2025 Federal Tax Budget and Reconciliation Bill (H.R. 1) (OBBBA). Under current law, Minnesota taxable income is based on the Internal Revenue Code as amended through May 1, 2023. The Department of Revenue notes that H.R. 1 may impact federal and Minnesota returns for tax year 2022 and after. The department has updated its forms and instructions to help taxpayers calculate nonconformity adjustments. When filing an amended Minnesota return due to H.R. 1, taxpayers should write "H.R. 1" in red at the top of their amended return and any amended Schedules KF, KPI, KPC, or KS issued to beneficiaries, partners, or shareholders.

2025 Federal Nonconformity for Income Tax, Minnesota Department of Revenue, November 4, 2025