Minnesota 2013 Legislative Impacts
Levies, and taxes, and mandates…oh my! Levies, and taxes, and mandates…oh my! The 2013 Tax Omnibus Bill, passed by the Minnesota Legislature and Governor Dayton includes a variety of taxes which you should be aware of – both for yourself and for your Minnesota business, as you travel down the yellow brick road.
As a MN real estate salesperson and business owner, I attended last week’s “Legislative Wrap-Up Session” hosted by the Lakeville Chamber of Commerce with the intent of gaining insight into the recent legislation passed in our state and at the federal level. The first half of the presentation’s panel of speakers included: Rep. Mary Liz Holberg, Rep. Pat Garofolo, Rep. Will Morgan, and Sen. Dave Thompson. From this event, I took away the following key points you should know:
- State of MN Tax Changes Passed includes warehousing and storage services, a new 4th income tax tier, and a rental car tax increase to name just a few.
- Additional changes for businesses from the Federal Tax Conformity Bill (HF6) were passed and signed and can be found in the following link: 2013 Legislative Summary – Holberg (as shared by Rep. Mary Liz Holberg, June 13, 2013)
- Additional updates relating to municipal revenue & taxation, transportation, housing, and general legislation was summarized in the following link: LAKEVILLE LEGISLATIVE SUMMARY (by the City of Lakeville, June 13, 2013)
As you venture out in search of the great Oz, be aware of the recent changes and keep your eyes open for upcoming discussions (e.g. minimum wage increase). Be sure to stay in touch with our local representatives to voice your concerns on the issues impacting your business.
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