Years before Burger King sized up a Canadian headquarters in a hunt for lower taxes, Republican U.S. Senate candidate Mike McFadden’s investment firm was involved in a merger that moved an American pharmaceutical company to Ireland and significantly dropped its tax rate. McFadden’s Minnesota-based firm made more than $11 million, according to public filings.
A narrow band of Minnesotans will pay a higher income tax under the new state budget. How much more? That depends. Officials say the average cost of the new tax for 54,400 filers is just shy of $7,200. But that figure can be misleading.