Taxes

Revenue to balance budget relies on new fourth tier taxpayers

By Lee Ann Schutz Wahi, Session Weekly/Session Daily

The DFL rolled out its tax plan Monday, just as many taxpayers were hurrying to meet today’s filing deadline for their 2012 taxes.

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United for baloney

By Jeff Van Wychen, Minnesota 2020

The anti-tax contingent of the Minnesota business lobby—calling itself “United for Jobs”—is using bogus statistics to frighten Minnesotans into believing that the tax increases being proposed by Governor Dayton and legislative leadership will crush the state’s economy. They’re full of baloney.

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Minnesota 2020

Senate tax priorities start to come into view

By Nan Madden, Minnesota Budget Bites

Some of the Minnesota Senate’s tax priorities came into clearer focus yesterday when the Senate Tax Reform Division released its draft division report, authored by the committee’s chair, Senator Ann Rest. More tax provisions will be revealed when the omnibus tax bill is released later this month.

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Minnesota Budget Bites

House committee takes action to improve property tax refunds, aids to local governments

By Nan Madden, Minnesota Budget Bites

Efforts to ensure that Minnesotans don’t pay too high a share of their incomes in property taxes took another step forward this week as the House Property and Local Tax Division passed its Division Report. The report was authored by Representative Jim Davnie and amended on to House File 2.

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Minnesota Budget Bites

Property tax relief nearly overshadowed by new 'sand tax'

By Lee Ann Schutz Wahi, Session Weekly/Session Daily

Staying true to their word that property tax relief would be among the session’s top priorities, the DFL majority has laid out a plan that would have more homeowners qualifying for a property tax refund. However, a proposed tax expansion on the state’s budding frac sand mining operations — contained in the same bill — pushed tax relief to the sidelines during testimony.

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'Fourth tier' would have little impact on small businesses

By Nan Madden, Minnesota Budget Bites

A new state income tax bracket proposed for the highest-income Minnesotans would not touch most small businesses, since only a small share of households that report “small business” income would be in the new bracket.

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Minnesota Budget Bites

Average renters' Property Tax Refund payments by county

By Jeff Van Wychen, Minnesota 2020

Dollar for dollar, no single program does more to reduce the regressivity of Minnesota’s state and local tax system than the renters’ property tax refund (PTR). A previous Minnesota 2020 analysis demonstrated the effectiveness of the renters’ PTR in reducing the regressivity of rental property taxes. The renter’s PTR successfully cuts the degree of rental property taxes in half, to the point where it is more in line with other categories of property taxes.

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Minnesota 2020

Getting your taxes on — where to find free tax help

By Mary Turck, News Day

Do you know anybody who likes filing tax returns? Okay, maybe the EZ form is fine if you have just employer and no fancy stuff. But what if might be eligible for the Earned Income Tax Credit, Child Tax Credit, or even the Credit for the Elderly or the Disabled?

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Fourth tier taxpayers by legislative district

By Jeff Van Wychen, Minnesota 2020

Tuesday, Minnesota 2020 presented information showing the percentage of taxpayers in each Minnesota county that would be affected by Governor Dayton’s proposal to create a new fourth income tax bracket. The percentage of full-year resident taxpayers affected by the proposed fourth tier ranges from 0.2 percent in Pine County to 3.4 percent in Carver County. Statewide, only two percent of Minnesota taxpayers with taxable income in excess of $250,000 (married-joint filers) would be affected by Dayton’s proposed fourth tier.

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Minnesota 2020
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