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Details:
• Minnesota ended reciprocity agreement with Wisconsin:If you are a Wisconsin resident who worked in Minnesota, Minnesota income tax was withheld from your wages starting January 1, 2010.
- You will need to file income tax returns in both Minnesota and Wisconsin.
- You may file this form to claim a credit for your income taxes paid to Minnesota.
• College savings programs:a child does not have to be a dependent in order to deduct contributions to an EdVest or tomorrow’s scholar® college savings accounts.
• State election campaign fund and democracy trust fund:the amount you may donate to this fund has increased to $3.
• Business credits:five new credits are available.
• Section 179 expense for farmers:the maximum expense that may be claimed is $25,000.
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