Dear neighbors,
Last Friday, the Legislature and Governor Dayton approved a significant tax cut bill (House File 1777) that will benefit over one million Minnesotans.
In addition to repealing three business-to-business taxes, the bill cuts taxes for married couples, working families, new homeowners, students, teachers and others, helping to grow our economy from the middle out. Thanks to a $1.2 billion surplus, we were able to approve these new tax cuts while maintaining a structurally balanced budget into the future.
That kind of approach is a smart way to build on Minnesota’s positive economic momentum, keep our state’s finances on solid footing, and help more families and businesses share in our recovery.
The Department of Revenue is working to implement the new law as soon as possible.
If you have not yet filed your 2013 Minnesota tax return, you should wait until after April 3, 2014 to do so. The Department of Revenue will complete updates to their online systems by that date to account for tax refund changes.
If you already filed your 2013 Minnesota tax return, you don’t need to do anything right now. The Department of Revenue will continue mailing refunds as usual. After the April 15 filing deadline, they will review tax returns received before tax refund changes took effect then send any refund increase the same way you elected to receive your refund. If you qualify for a bigger refund, the Department of Revenue will be able to make the necessary changes to your return using the tax documents you provided. If they are unable to do so, they will individually contact you by postal mail to request documents needed to amend your return.
For more information, click here to open an attachment with general guidance from the Department of Revenue. You can also contact me by phone at (651) 296-5387 or by email at rep.will.morgan@house.mn with any questions.
Minnesota’s economy is much stronger than it was one year ago. We have a budget surplus, employers are hiring, and new investments in our children’s education are helping to make sure every student has an opportunity to reach his or her full potential.
New tax cuts for over one million Minnesotans will make sure our economy continues growing from the middle out right now and into the future.
Sincerely,
Will Morgan
State Representative, District 56B