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State Representative Joyce Peppin
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-7806
For more information contact: Austin Bleess 651-296-5529
NEWS COLUMN
BACK-TO-SCHOOL SHOPPING? REMEMBER TO SAVE RECEIPTS TO CLAIM TAX SAVINGS
By Joyce Peppin
State Representative, District 32A
If you’re doing your back-to-school shopping, I want to remind you that many of the school-related purchases you make on behalf of your children in K-12 school now and throughout the year may be eligible for state tax credits or tax subtractions on your 2006 Minnesota income tax forms.
What many taxpayers don’t realize is that you don’t have to itemize your federal taxes in order to claim these Minnesota-only tax savings. Any family filing a Minnesota income tax form can take advantage of these education-related tax reductions. Here’s a quick look at the education tax credit & subtraction program.
Who’s Eligible
Under Minnesota’s education tax credit/subtraction program, families with children in grades K-12 and with incomes under $37,500 are eligible for a tax credit of up to $1,000 per child for qualified education expenses. Up to 75 percent of the money you spend on eligible purchases (excluding tuition) will be refunded to you when you file your taxes.
All families with children in K-12 school, regardless of income, can claim state tax subtractions for the same education expenses, including tuition. A subtraction lowers a family’s taxable income. Subtraction limits are $1,625 for a child in kindergarten through 6th grade and $2,500 for a child in grades 7 through 12.
What’s Covered
Families can claim tax credits and subtractions for tutoring, enrichment programs, textbooks, instructional materials and expenses associated with individual schools, and home computer hardware and educational software up to $200.
The credit and subtraction are also applicable to the purchase of a musical instrument, calculator or other life-long piece of equipment that your child uses at school. Although tuition expenses at a private or parochial school are not eligible for the credit, these expenses can be claimed as a subtraction.
More Information
For more information, you can check with the Minnesota Department of Revenue online at www.taxes.state.mn.us. So save your receipts as you do your back-to-school shopping and see how much tax savings you can claim.
Rep. Peppin represents District 32A, which includes the communities of Corcoran, Dayton, Greenfield, Hanover, Rogers, Hassan Township, and southwestern Maple Grove. Peppin invites anyone to share their questions or comments about state government with her. She may be reached by email at rep.joyce.peppin@house.mn; by phone at (651) 296-7806; or by U.S. Mail at 411 State Office Building, St. Paul, MN 55155.
News Items
- PEPPIN REPORT: NW SUBURBAN FAMILIES WILL BE HIT HARD UNDER DAYTON AND DFL BUDGET - (Posted: May 28 2013 4:35PM)
- Rep. Peppin’s bill would lessen unfair fiscal disparities tax burden on Rogers - (Posted: Apr 3 2013 9:36AM)
- PEPPIN REPORT: FEBRUARY FORECAST REVEALS FOURTH CONSECUTIVE STATE SURPLUS - (Posted: Feb 28 2013 12:00AM)
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