Taxes

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Talking Points: Obama’s Tax Plan And The Middle Class

Just days before his State of the Union address, President Obama unveiled a major tax proposal that calls for raising taxes on the wealthy and large financial firms.

01/18/2015

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Dayton Pushes For Gas-Tax To Raise Money For Road Repairs

Gov. Mark Dayton blasted the new Republican Majority in the Minnesota House Friday for what he calls a “phony” transportation plan. Republicans yesterday unveiled a “no new taxes” plan to fix roads and bridges, but Dayton called it “fantasy.”

01/09/2015

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Dayton Acknowledges Haul From Gas-Tax Plan Is Unpredictable

Cheap gas prices could put a dent in Gov. Mark Dayton’s forthcoming proposal to tack a new sales tax on fuel purchases.

01/09/2015

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LEGISLATURE ’15: Budget, Bridges, Booze And More

The strike of a gavel Tuesday will start Minnesota’s Legislative session, a marathon of bills, amendments, debate and disagreements that will run into the spring. Here’s a taste of what may be brewing at the Capitol this year.

01/03/2015

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‘Fine-Tuning’ Of Taxes Is In The Wind At Legislature

Newly powerful House Republicans are sure to make moves to cut taxes when the Minnesota Legislature convenes next week. The big questions are what kind, how much and whether they can get Democrats to agree.

01/02/2015

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Minnesota May Start Taxing Drivers

Gas prices are finally falling, but those savings might not last long. At least 18 states, including Minnesota, are considering taxing drivers based on distance. Gas prices aren’t the only reason for the idea, since newer cars get better gas mileage.

12/25/2014

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Taxpayers’ Income Doubles Since ND Boom Began

Reported income by all North Dakotans has more than doubled to a record $30.4 billion since the infancy of the state’s oil boom in 2006, tax return filings show.

12/07/2014

gordys garage, blog

Wisconsin Would Join Electric Car Tax Trend

Wisconsin would join five other states that impose special fees on electric and hybrid vehicles if the proposed $50 annual charge put forward by the Department of Transportation becomes law.

11/17/2014

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October Tax Revenues Beat Out Projections

Minnesota collected nearly 5 percent more in taxes in October than was anticipated. Minnesota Management and Budget said Monday it collected just under $1.7 billion, $75 million more than forecast. Tax collections for the fiscal year, which started in July, are slightly ahead of projections. October marks the second consecutive month that tax collections have come in high in a year where the state’s monthly collections have generally lagged.

11/10/2014

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Dayton Clarifies Gas Tax Stance For Road Repairs

Gov. Mark Dayton is clarifying his call for new gasoline taxes to fund transportation projects.

10/09/2014

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Reality Check: New Franken Ad On McFadden Is Misleading

A new TV ad by Democratic Sen. Al Franken claims his Republican opponent Mike McFadden searches the world for places to avoid paying taxes.

10/08/2014

Rick Nolan And Stewart Mills

8th District Candidates Debate Guns, Taxes And Mining

In the first debate in Minnesota’s hotly contested 8th Congressional District, the candidates talked guns, taxes, and mining.

10/07/2014

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Reality Check: Did Franken Vote ‘More Than 40 Times’ For High Taxes?

Did Minnesota Democratic U.S. Sen. Al Franken vote for higher taxes “more than 40 times”, as his opponent claims?

09/10/2014

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Monthly Tax Collections Off By $10M In August

Minnesota’s tax collections for the year have fallen further behind earlier projections. State finance officials reported Wednesday that tax collectors took in $10 million less than expected in August. Individual income taxes lagged the most. In all, the state took in more than $1.3 billion last month.

09/10/2014

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Reality Check: Franken’s Ad On McFadden’s ‘Tax Inversion’

A tough new ad from Democratic Sen. Al Franken accuses his Republican opponent’s business of avoiding taxes by headquartering overseas. But Republican Mike McFadden calls the ad “ridiculous” and “full of lies.” The ad marks a new Franken campaign strategy: directly attack McFadden for his business dealings.

09/05/2014

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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

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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

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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

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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

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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

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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

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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

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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

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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

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