WCCO EYE4 LOGO WCCO Radio wcco-eye-green01, ww color green

Taxes

(photo credit: Thinkstock)

What’s A Corporate Inversion?

Business transactions known as corporate inversions are getting increasing attention from Wall Street and U.S. government officials. Here’s a snapshot:

08/29/2014

(credit: CBS)

Good Question: Why Can Companies Use Tax Inversion?

Burger King’s stock jumped 21 percent Monday on the news the company is in talks to merge with Canadian-based Tim Horton’s. The move is called tax inversion, a change in the location of its headquarters that would let the fast-food company pay fewer taxes in the U.S.

08/25/2014

(credit: Jupiter Images)

July Tax Collections Come In Below Projections

Minnesota’s tax collections for July have come in $69 million below expectations. The Department of Minnesota Management and Budget released its monthly revenue Monday. It shows the state took in 6.6 percent less than was forecast.

08/11/2014

(credit: CBS)

Gov. Dayton Paid More In Taxes, To Charity In 2013

Minnesota Gov. Mark Dayton paid nearly $106,000 in state and federal taxes last year, and upped his charitable giving, too. Dayton released his 2013 tax returns on Wednesday, following his routine of doing so since he was a candidate in 2010.

07/23/2014

money, cash, 1s, ones, dollar bills, generic

Minnesota Revenues Beat Forecast In Final Quarter

Minnesota finance officials say state tax collections beat expectations for the final three months of the fiscal year. According to the quarterly update released Thursday, state revenues for April, May and June were $235 million more than forecast.

07/10/2014

Taxes

Revenue Agency Says Tax Break Review Is Complete

Minnesota’s top revenue official says his agency has finished its review of 2013 tax returns to determine eligibility for tax breaks enacted by the Legislature in March. Revenue Commissioner Myron Frans said Friday that anyone who hasn’t received a supplemental refund check or been contacted by agency officials by this week didn’t qualify. Lawmakers took steps in March to line up the state’s income tax code with a federal one, making some filers eligible for extra credits and deductions.

06/27/2014

(credit: CBS)

Talking Points: Medtronic’s Overseas Acquisition & Taxes

News last week that Medtronic is buying an Irish firm and moving its headquarters to that country is prompting debate here in Minnesota and across the country. Medtronic says it needs to make the move so that millions of dollars of overseas profits can be taxed at a lower rate. That has members of Congress asking if it’s time to either change the tax code or make it harder for companies to make this kind of a move.

06/22/2014

money, cash, 1s, ones, dollar bills, generic

Minnesota Tax Collections Below Mark For 4th Month

For a fourth straight month, Minnesota’s tax collections have come in slightly below expectations. The Department of Minnesota Management and Budget reported Tuesday that the state took in $17 million less than anticipated in May. That’s 1.1 percent below the amount officials estimated in a February long-range forecast. Income and corporate taxes missed the mark the most.

06/10/2014

(credit: CBS)

Reality Check: The Cost Of The Mpls. Super Bowl

Minnesota’s 2018 Super Bowl bid committee promised more than a great party. The state pledged to pick up a super tab, too. We may never know all of the details about Minnesota’s Super Bowl bid. Under state law, it’s private.

05/23/2014

(credit: CBS)

Adjournment Fever Hits Legislature, Pace Quickens

Last-minute deals are coming together at Minnesota’s Capitol, which means final votes are closing in on $1 billion in construction authorization, a budget bill and tax cuts. The pace quickened Thursday as lawmakers faced a weekend deadline to complete their session.

05/15/2014

(credit: CBS)

Minn. Lawmakers In Rare Agreement On 2nd Round Of Tax Cuts

There was something a little different going on at the State Capitol Tuesday: A major bill that everyone appears to agree on. It means a second round of tax cuts could be heading your way. State lawmakers already passed income tax relief on the way to hundreds of thousands of middle income Minnesotans. Now, homeowners and renters are getting a break.

05/13/2014

(credit: Hannah Foslien/Getty Images)

Dayton Ups Amount Of Surplus He’s Willing To Spend

Gov. Mark Dayton says he’s willing to devote another $100 million of a budget surplus to spending on pressing needs above his previous proposal. Dayton said Thursday he made the offer to top lawmakers “in the spirit of accommodation.”

04/24/2014

(credit: Jupiter Images)

Reality Check: Minn. Remains A High Tax State

Other people might call April 15 “Tax Day,” but Minnesota Gov. Mark Dayton has another name for it.

04/15/2014

Taxes

It’s Deadline Day To File Your Income Taxes

If you haven’t filed your 2013 income taxes yet, the clock is ticking. You have until the end of the day to get them done, get them in the mail or file for an extension. Officials with the Internal Revenue Service said about 35 million tax payers wait until the last week to file their taxes.

04/15/2014

(credit: CBS)

Countdown To Taxes Begins As April 15 Deadline Looms

The countdown is on. Taxpayers have until midnight Tuesday to get their taxes done. The IRS will receive about 135 million tax returns by the April 15 deadline. About 90 percent of those are now filed electronically. In a roundabout way, that’s helped cut down on the number of audits the IRS can conduct.

04/14/2014

more

Follow

Get every new post delivered to your Inbox.

Join 1,826 other followers