While federal tax changes are still a big unknown, Governor Mark Dayton recently signed an omnibus tax bill that enacts several changes that will impact Minnesota business and individual taxpayers. Listed below are highlights of the bill and the new tax laws:
There are many other provisions in the tax bill that could impact both individual and business taxpayers in Minnesota. But at least the tax picture is much clearer at the state level than at the federal level. Before taking any action, however, consult with a tax expert and understand how these changes and provisions might impact your specific tax situation. If you’d like to speak with someone and get a head start on tax planning, you can reach out to your Redpath and Company tax advisor or Gloria McDonnell at 651-407-5829 or firstname.lastname@example.org.
Gloria McDonnell is the Tax Operations Director and serves on the leadership team at Redpath and Company. Gloria specializes in corporate tax planning and compliance, multi-state taxation, international tax, and tax research. Gloria works with closely held businesses in a variety of industries, and has provided business tax accounting services since 1989. You can reach Gloria at 651-407-5829 or email@example.com.More posts by Gloria McDonnell