Under Minnesota tax law, if you spend more than 183 days in the state in a year and you have a home here, you’re a full-time resident of Minnesota, with all the tax implications that come with that rule.
Today, a divided Minnesota Supreme Court reversed a short-term victory to a wealthy Lake Minnetonka couple, who moved back to Minnesota in 2007 and were ordered to pay $650,789.38 in taxes as full-year residents under the law.
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The mayor of Edina says taxes are going up in his community because people aren’t buying as much booze at the city’s liquor store. Read more →
Some people, it’s safe to say, cheat on their returns. Some choose not to file at all. What should be done to these people? Two researchers say they should be shamed in public. Read more →
Minnesota among highest-ranked states for tax ‘fairness’
Minnesota has one of the least regressive tax structures in the country, according to the Institute on Taxation and Economic Policy, which has released a study of individual state’s tax policies to determine whether middle- and lower-income residents are shouldering more of the burden.
For the record, Minnesota’s tax system isn’t fair. But neither is any other state’s, according to the research. Read more →
Every year around this time the NewsCut tradition calls for a sharing of our proposed taxes for the new year, the notices for which should be arriving soon if it hasn’t already.
Let me know in the comments section what the tax hit is for you in 2015 and indicate the location.
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A study shows that people will mostly take their purchases somewhere else online, but will spend more money locally. Read more →
Survey shows MN more business friendly than you think
Minnesota is generally considered a high-tax state but the Thumbtack.com survey found that taxes was not statistically significant in defining whether a state is friendly to small businesses. Read more →
Show me your property tax statement
Politicians are arguing over whether property taxes in Minnesota have dropped. There’s only one way to determine the answer: your checkbook. Read more →
At a time when Minnesota is getting some criticism for its new gift tax, Forbes Magazine has good insight on how rich families stay rich families. It’s focusing on a dispute between the Pohlad family (owners of the Minnesota Twins) and the Internal Revenue Service over the estate of the late Carl Pohlad. Pohlad’s heirs Read more →
5 x 8: The good and bad among us
Team Josh, Gettysburg at 150, a special session for the Internet tax, why don’t people like books anymore, and Lake Pepin with glorious weather. Read more →