Tax bill matching up Minnesota, federal code steams ahead

Published 9:57 am Tuesday, January 13, 2015

ST. PAUL — Minnesota lawmakers are trying to get a bill containing a slate of tax credits and deductions on Gov. Mark Dayton’s desk soon.

The Senate Taxes Committee advanced the bill on a voice vote Tuesday, setting up a final vote as soon as Thursday. A House committee is expected to move its version along for a final vote this week.

The bill matches Minnesota’s code up with recent federal changes. Lawmakers want to enact the changes before the personal income tax filing season opens next week.

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Select groups of taxpayers are affected, including teachers who deduct the cost of classroom supplies or college graduates for certain costs they incur. There are also some business depreciation changes and deductions for racehorse owners, film production and energy efficiency upgrades to commercial buildings.