Military pension income tax subtraction See State & Local Government, Veterans Angel Investment Tax Credit The Small Businesses Investment Tax Credit – commonly known as the Angel Investment Tax Credit – was enacted in 2010 and is one of several… Read More »Other tax bills that passed
Marketplace fairness: The bill required out-of-state retailers to collect and pay sales taxes on items sold to Minnesota customers, regardless of whether they have a brick-and-mortar presence in the state. The legislature passed the provision in 2013, but some large… Read More »Business taxes
School building bond agricultural credit: See Rural Initiatives Aids to local governments: Since 1972, state aids to local governments have been a critical life-line for local units of government to provide important services without having to rely solely on property tax… Read More »Property taxes and local governments
Working Family Credit: Minnesota’s version of the federal Earned Income Tax Credit is a proven tool to directly improve the financial health of working, lower-income families. This bill increased and expanded Minnesota’s Working Family Credit, including more taxpayers without children.… Read More »Income taxes
The Omnibus Tax Bill expands tax credits for working families, helps ease the growing burden of student loan payments, and delivers property tax relief to farmers and small businesses across Minnesota. The bill passed the Minnesota Senate today with a bipartisan vote of 55-12; its next stop is the governor’s desk. Sen. Rod Skoe (DFL-Clearbrook) authored the omnibus bill as chair of the Senate Tax Committee.