Posts Tagged ‘Taxes’
Majority of Business Tax Break Leaves Minnesota
The elimination of state business property tax is projected to reduce state revenue by nearly $1.9 billion by the time it is fully phased-in. However, the amount of net tax relief received by Minnesotans will only be about $0.9 billion. What happened to the missing $1.0 billion? It will be exported to out-of-state taxpayers or…
Read MoreNo Evidence Taxes are Driving People Out
A new report from the right wing Center of the American Experiment (CAE) contends that Minnesotans are leaving the state in droves—a phenomenon referred to as “income migration.” The culprit—according to the report—are those hateful Minnesota taxes. A recent post from the Minnesota Budget Project points out that the data used in the CAE report…
Read MoreMetro Area Gets Most from State Business Tax Repeal
Proponents of the elimination of the state business property tax have touted the tax relief that will flow to greater Minnesota businesses. However, the vast majority of the relief will flow to the seven-county metropolitan area, with over a third going to Hennepin County alone. This article is part of a continuing series which examines…
Read MoreCan Minnesota Afford to Eliminate the State Business Property Tax?
Minnesota conservatives, with the backing of the business lobby, are keen on a plan to eliminate the state business property tax. A recent North Star article noted that the bulk of this tax relief will go to large multi-million dollar properties, as opposed to small Main Street businesses. This article will look at a different…
Read MoreSmall Business Tax Relief? Not So Much
In recent years conservatives have talked about phasing-out and ultimately eliminating the state business property tax. This is the first of a series of articles that will examine various aspects of this plan. This article will examine the distribution of tax relief between large and small businesses. Just how much of the tax relief from…
Read MoreConservative Criticisms of the 2013 Tax Act Fall Flat
A recent North Star article touted the success of the 2013 tax act in reducing tax regressivity, providing targeted tax relief, reducing the state and local taxes paid by most middle-income households, funding important public investments, and helping to put the state budget on a sound fiscal footing. However, no retrospective of the 2013 tax act…
Read MoreI Sing the Tax Act 2013
Of all the legislation enacted in recent years, few have aroused as much passion as chapter 147 of the 88th legislative session: the 2013 omnibus tax act. Thus, it is fitting that North Star’s inaugural fiscal policy article should focus on this historic law. To some, the 2013 tax act represents confiscatory taxation and excessive…
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