Minnesota residents could receive a one-time payment of USD1,300

After the state legislature approved a $3 billion tax break, including refund checks, the expansion of the K-12 education credit, and the elimination of sales taxes on Social Security payments, Eligible Minnesota residents will be able to receive about $1,300 in one-time payment.

In this sense, the money received will depend on several factors such as; the taxpayer's income and the number of dependents. For individual contributors the check will be for $260 dollars and the groups will receive $520 dollars.

Likewise, it was detailed that for taxpayers in that state who have up to three dependents will obtain a check for $260 dollars, according to the statement, families in general could receive a maximum of $1,300 dollars.

According to the report, individual taxpayers who earn more than $75,000 and couples with annual salaries of up to $150,000 are not eligible for these refunds.

As of now, Governor Tim Walz has not signed the bill into law; however, he expressed that “I don't think they're rich, but I do think that encompasses about 80% of Minnesotans who make less than that, focusing on those kids, and the bottom earners are going to see more.” ,said.

As for the K-12 education credit, the bill seeks to provide up to $1,500 per child, as well as the elimination of sales tax on Social Security payments for joint filers who earn less than $100,000.

“Minnesota tax code at the top, they pay a little more, but our tax code is rated one of the fairest in the country, which means if you're under $150,000, it's a lot cheaper to live here than live in other places,” Walz said.

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