ST. PAUL, Minn. (AP) — Income tax rebates of $260 for individuals and up to $1,300 for families of five are already starting to show up in the bank accounts of about 2.1 million Minnesota residents, officials said Wednesday. The rebates, adding up to about $1 billion, are part of legislation signed by Democratic Gov. Tim Walz in May to…
ST. PAUL (KVRR) — Tough economy? It doesn’t appear to be the case in Minnesota as the state now projects a surplus of $17.6 billion dollars through 2025. A large chunk of that surplus is due to the legislature’s failure to act on an $8 billion tax cut before the midterm election. Republicans wanted to wait it out until the…
ST. PAUL, Minn. (AP) _ A court defeat in a case over the way Minnesota taxed trust accounts in other states could end up costing about $130 million this budget cycle. The Minnesota Department of Revenue estimated it will have to repay about $67 million, plus interest, in rebates over the next two years for overtaxing some trust accounts. It…
