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      February 17, 2019

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Tax Relief in Minnesota

Minnesota MapMinnesota residents are feeling the burden of the same financial struggles affecting the rest of the nation, including those that come as a result of tax debt. For instance, Minnesota’s top tier of personal income tax is fourth highest in the United States at a rate of 9.85%. The state collects an average of $1,404 per person in local and state income tax each year, ranking the state 6th highest nationwide.

Even with respect to property taxes, Minnesotans pay approximately $1,535 per person each year, which places the state in 16th highest place overall.

Although property taxes in the state are relatively low, Minnesota residents often find themselves in the position of owing money to the IRS and to local and state collection agencies. For Minnesotans who have little-to-no savings, and who often live from one paycheck to the next, setting aside the money to pay Uncle Sam is often a lower priority than paying the rent, taking care of medical bills, buying groceries, or making car payments. Paying taxes takes a backseat to meeting immediate, urgent needs.

While the average amount of federal taxes collected in Minnesota is almost the same as the national average of $11,715, the state’s median household income has declined by 17% in recent years.

Financial difficulties have prompted many Minnesotans to seek out tax relief as a solution to increasing personal debt. Tax relief companies help individuals to minimize the stress of owing money to state and federal tax authorities, and to avoid the possibility of assets being seized or wages garnished. Experts in tax relief work with their clients to reduce their overall tax debt and can use a variety of methods to do so. Some such approaches include negotiating penalty abatement, setting up installment agreements with the IRS, and amending previous years’ tax returns.


In light of 2017 law, Minnesota needs to take a look at its income tax

Perhaps it's time for at least a little concern that Minnesota, a state that gets more than half its general fund revenue from individual income taxes, has the kind of problem that has been brewing el...

Published:  Sat, 16 Feb 2019 05:00:00 GMT

Reality Check: Tax Refund Shock

On top of that, high-tax states like Minnesota got a double-tax-whammy! There's a limit on deducting state and local taxes you can deduct, and a cap on home mortgage interest. Here's the ...

Published:  Wed, 13 Feb 2019 20:24:00 GMT

Central Minnesota politicians make push to slash taxes on charitable gambling

BRAINERD, Minn. - Central Minnesota politicians are taking a shot at slashing tax rates on charitable gambling activities - a push to halve exorbitantly high rates, they said, which hamstring nonprofi...

Published:  Thu, 14 Feb 2019 13:57:00 GMT

Gas Tax: How Much More Minnesota Residents Pay To Fill Up

MINNESOTA - Crossing state lines could increase or decrease how much you pay for gas. A new report from 24/7 Wall Street looked at which states have the highest and lowest gas taxes and found ...

Published:  Wed, 13 Feb 2019 13:24:00 GMT

CVB a nonprofit formed to promote visitation to Marshall area; receives some tax funding

beverage and lodging tax, through a contract of services with the city, said Marshall city administrator Sharon Hanson. Under Minnesota statutes, cities can impose a tax on short-term lodging like hot...

Published:  Fri, 15 Feb 2019 23:36:00 GMT

Column: Gas tax issue illustrates rural, urban divide

In Minnesota this electricity is provided by coal ... An electric truck simply won't get this job done, and a 25-cent-per-gallon gas tax assessed on a truck that gets 11 to 14 miles per gallon while t...

Published:  Sat, 16 Feb 2019 05:28:00 GMT

Ruud, Lueck make push to slash taxes on charitable gambling

... discussed in the Minnesota House of Representatives and the Minnesota Senate this session. In the Senate, Ruud's legislation was heard Feb. 7 and laid over for possible inclusion in the tax omnibu...

Published:  Thu, 14 Feb 2019 07:34:00 GMT

Minnesota notebook: GOP picks up Senate seat, gas tax fight gets tougher this week at the Capitol

ST. PAUL - Republicans in the Minnesota Senate got a new edge this week with a special election seat pickup. And the win shook up the conversation about a possible gas tax to fund improvements to road...

Published:  Fri, 08 Feb 2019 10:55:00 GMT

How slavery's lingering stain on the US Constitution spoils Elizabeth Warren's wealth tax proposal - for now

So if a tax costs Alabama $1,000 per person, the impact on Minnesota and California must be the same. It doesn't matter who actually pays the tax, so long as the per capita cost for each citizen is th...

Published:  Fri, 15 Feb 2019 13:48:00 GMT

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