SO, WHAT’S NEW IN MINNESOTA STATE TAXES?

So, what’s new in state taxes?

A slew of tax changes occurred in this year’s session of the Minnesota Legislature! The  Department of Revenue now is churning out “What’s New” updates and various Fact Sheets to explain 2013 tax codes.

You can read them at the agency’s Web site at www.revenue.state.mn.us. Some educational videos also are available.

In one update, the state agency says it is still is waiting for IRS guidelines to figure out how same-sex marriage will affect taxation of those couples. But, beginning Aug. 1, Minnesota will accept the “married” as the filing status for legally married same-sex couples. That new filing status extends to other forms given to employers, such as Form W-4 for withholding.

An extensive discussion of property taxes also has been issued by MDOR.

So, here are some briefings that may fit your tax situation:

Property Tax: 2013 Property Tax Law Summary (New) Corporate Tax What’s New for Corporate Franchise Tax (New) What’s New for Partnerships(New) What’s New for S-Corporation Tax (New) Sales and Use Tax Fact Fact Sheet 176, Local Governments Exemption(Revised) Local Government Sales Exemptions FAQs(New) Fact Sheet 152C, Labor – Repair for Individuals(New) Fact Sheet 152B, Labor – Repair for Business (New) Minnesota Marriage Equality Act Overview and update (new)   Stay tuned for more. The Department of Revenue delivers new updates every Thursday!