Repository: PolicyEngine/policyengine-us (language: python)

Issue:
MN Base Standard Deduction 2024

![MN sd](https://github.com/user-attachments/assets/25da36aa-3bb6-46ee-82fc-c2b3ddacfe76)

[Reference](https://www.revenue.state.mn.us/sites/default/files/2023-12/inflation-adjusted-amounts-ty-2024.pdf)

https://github.com/PolicyEngine/policyengine-us/blob/304c2a856b6fe809c7dd4921b628aac6968a206b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml#L1-L74



Discussion / hints:

Fix patch:
diff --git a/changelog_entry.yaml b/changelog_entry.yaml
index e69de29bb2d..bd788243d06 100644
--- a/changelog_entry.yaml
+++ b/changelog_entry.yaml
@@ -0,0 +1,4 @@
+- bump: minor
+  changes:
+    added:
+    - Minnesota 2024 base and additional standard deduction amount updates.
diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml
index 021cfadd84b..56f8bacad91 100644
--- a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml
+++ b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/base.yaml
@@ -16,12 +16,15 @@ metadata:
     href: https://www.revenue.state.mn.us/sites/default/files/2023-03/m1_inst_22.pdf#page=3
   - title: 2023 Minnesota M1 form instructions
     href: https://www.revenue.state.mn.us/sites/default/files/2024-02/m1-inst-23.pdf#page=3
+  - title: Tax Year 2024 Inflation-Adjusted Amounts In Minnesota Statutes, 290.0123, Subd. 1
+    href: https://www.revenue.state.mn.us/sites/default/files/2023-12/inflation-adjusted-amounts-ty-2024.pdf#page=1
 
 JOINT:
   values:
     2021-01-01: 25_050
     2022-01-01: 25_800
     2023-01-01: 27_650
+    2024-01-01: 29_150
   metadata:
     uprating:
       parameter: gov.irs.uprating
@@ -33,6 +36,7 @@ HEAD_OF_HOUSEHOLD:
     2021-01-01: 18_800
     2022-01-01: 19_400
     2023-01-01: 20_800
+    2024-01-01: 21_900
   metadata:
     uprating:
       parameter: gov.irs.uprating
@@ -44,6 +48,7 @@ SURVIVING_SPOUSE:
     2021-01-01: 25_050
     2022-01-01: 25_800
     2023-01-01: 27_650
+    2024-01-01: 29_150
   metadata:
     uprating:
       parameter: gov.irs.uprating
@@ -55,6 +60,7 @@ SINGLE:
     2021-01-01: 12_525
     2022-01-01: 12_900
     2023-01-01: 13_825
+    2024-01-01: 14_575
   metadata:
     uprating:
       parameter: gov.irs.uprating
@@ -66,6 +72,7 @@ SEPARATE:
     2021-01-01: 12_525
     2022-01-01: 12_900
     2023-01-01: 13_825
+    2024-01-01: 14_575
   metadata:
     uprating:
       parameter: gov.irs.uprating
diff --git a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/extra.yaml b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/extra.yaml
index d77fab03617..36c4a792acf 100644
--- a/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/extra.yaml
+++ b/policyengine_us/parameters/gov/states/mn/tax/income/deductions/standard/extra.yaml
@@ -16,12 +16,15 @@ metadata:
     href: https://www.revenue.state.mn.us/sites/default/files/2023-03/m1_inst_22.pdf#page=12
   - title: 2023 Minnesota M1 form instructions
     href: https://www.revenue.state.mn.us/sites/default/files/2024-02/m1-inst-23.pdf#page=13
+  - title: Tax Year 2024 Inflation-Adjusted Amounts In Minnesota Statutes, 290.0123, Subd. 2
+    href: https://www.revenue.state.mn.us/sites/default/files/2023-12/inflation-adjusted-amounts-ty-2024.pdf#page=1
 
 JOINT:
   values:
     2021-01-01: 1_300
     2022-01-01: 1_350
     2023-01-01: 1_450
+    2024-01-01: 1_550
   metadata:
     uprating:
       parameter: gov.irs.uprating
@@ -33,6 +36,7 @@ HEAD_OF_HOUSEHOLD:
     2021-01-01: 1_650
     2022-01-01: 1_700
     2023-01-01: 1_850
+    2024-01-01: 1_950
   metadata:
     uprating:
       parameter: gov.irs.uprating
@@ -44,6 +48,7 @@ SURVIVING_SPOUSE:
     2021-01-01: 1_300
     2022-01-01: 1_350
     2023-01-01: 1_450
+    2024-01-01: 1_550
   metadata:
     uprating:
       parameter: gov.irs.uprating
@@ -55,6 +60,7 @@ SINGLE:
     2021-01-01: 1_650
     2022-01-01: 1_700
     2023-01-01: 1_850
+    2024-01-01: 1_950
   metadata:
     uprating:
       parameter: gov.irs.uprating
@@ -66,6 +72,7 @@ SEPARATE:
     2021-01-01: 1_300
     2022-01-01: 1_350
     2023-01-01: 1_450
+    2024-01-01: 1_950
   metadata:
     uprating:
       parameter: gov.irs.uprating


Test patch:
diff --git a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_standard_deduction.yaml b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_standard_deduction.yaml
index 09fc30ee552..5604a7a25b1 100644
--- a/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_standard_deduction.yaml
+++ b/policyengine_us/tests/policy/baseline/gov/states/mn/tax/income/mn_standard_deduction.yaml
@@ -82,3 +82,43 @@
     state_code: MN
   output:
     mn_standard_deduction: 5_530
+
+- name: Post 2024 an alternative reduction applies,high income
+  absolute_error_margin: 0.01
+  period: 2024
+  input:
+    filing_status: HEAD_OF_HOUSEHOLD
+    adjusted_gross_income: 1_000_001
+    state_code: MN
+  output:
+    mn_standard_deduction: 21_900 - 0.80 * 21_900
+
+- name: Post 2024 an alternative reduction applies, lower income reduction bracket
+  absolute_error_margin: 0.01
+  period: 2024
+  input:
+    filing_status: HEAD_OF_HOUSEHOLD
+    adjusted_gross_income: 260_000
+    state_code: MN
+  output:
+    mn_standard_deduction: 21_097.5
+
+- name: Post 2024 an alternative reduction applies, higher income reduction bracket
+  absolute_error_margin: 0.01
+  period: 2024
+  input:
+    filing_status: HEAD_OF_HOUSEHOLD
+    adjusted_gross_income: 310_000
+    state_code: MN
+  output:
+    mn_standard_deduction: 19_597.5
+
+- name: 2024 For earnings above the threshold, the standard deduction should be 80% of the amount
+  absolute_error_margin: 0.01
+  period: 2024
+  input:
+    filing_status: JOINT
+    adjusted_gross_income: 550_000
+    state_code: MN
+  output:
+    mn_standard_deduction: 5_830