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      November 21, 2018

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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.


Gov.-elect Walz' gas tax hike plan faces opposition

Gov.-elect Tim Walz continues to express support for raising Minnesota's gas tax to better address the state's infrastructure and transit needs, but some policy observers want lawmakers to put the bra...

Published:  Mon, 19 Nov 2018 04:12:00 GMT

How Does Minnesota's Gas Tax Compare To Other States

MINNEAPOLIS (WCCO) - DFL Gov.-elect Tim Walz says Minnesota needs to raise the gas tax to fix the state's roads, but the idea of paying more at the pump doesn't sit well with some Republican ...

Published:  Mon, 12 Nov 2018 20:08:00 GMT

Property Taxes Expected to Increase in Minnesota in 2019

Property taxes in Minnesota will increase on average 5.7 percent in 2019, according to preliminary numbers from the state Revenue Department. The school district portion of Minnesotans' property taxes ...

Published:  Mon, 19 Nov 2018 05:42:00 GMT

911 surcharge fees are taxes, Minnesota Supreme Court rules in False Claims Act case

ST. PAUL, Minn. (Legal Newsline) - The idea that fees associated with certain telecommunications calls, such as 911 services, are indeed taxes is what caused Minnesota's Supreme Court to ...

Published:  Fri, 16 Nov 2018 06:56:00 GMT

Study says Minnesota can economically reach renewable energy goals by 2050

"At our current projections, solar and wind are very cheap." Even with the exclusion of federal tax subsidies, wind energy was the cheapest form of new power generation in Minnesota in 2017, edging ou...

Published:  Thu, 15 Nov 2018 08:06:00 GMT

4 Tax Surprises You Might Face in Retirement

Here are a few unpleasant tax surprises that might catch you off ... Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West ...

Published:  Sun, 18 Nov 2018 04:09:00 GMT

Gov.-elect Tim Walz sets up shop at the Capitol. Gas-tax hike for roads "˜Absolutely.'

Tim Walz arrived at the Minnesota Capitol on Thursday, setting up shop in a transition office two days after winning the election. And he promptly confirmed he will seek to raise the state's gasoline ...

Published:  Thu, 08 Nov 2018 16:23:00 GMT

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