Tax bill benefits all Minnesotans
Businesses spoke loud and clear as to the negative impact of these (business-to-business sales) taxes on their ability to grow Minnesota’s economy. We’re pleased that the legislators and the governor listened, but remind them that these taxes should never have been enacted in the first place. We’re disappointed, however, that the enactment of the up-front exemption for sales tax on capital equipment was delayed. There is more than enough money in the state’s projected surplus to both pay for tax relief and increase the state’s budget reserve.
All Minnesotans benefit from this tax bill, as it also adopts federal conformity for income-tax returns, repeals the gift tax and increases the threshold for the estate tax. — Bill Blazar, Twin Cities
(Blazar is Minnesota Chamber senior vice president of public affairs and business development)