More Minnesota Tax Breaks Coming 09 May 14

Minnesota lawmakers are ready to deliver $100-million more in tax relief, including extra refunds and credits for homeowners, renters and farmers. The deal described Thursday won’t be voted on until next week, but Governor Dayton has already pledged his signature. When combined with an earlier tax bill, it means that about $550-million of the $1.2-billion surplus will have gone out as tax breaks. Under the deal, there would be almost $25-million put into property tax refund programs and another $17-million would go into new agriculture tax credits, averaging $200 per farmer. There are also business tax changes that allow companies more time to turn over sales taxes to the state.