Big Minnesota Surplus Could Lead to Business Sales Tax Repeal

Date: January 14, 2014

Related Content: NFIB in My State State Minnesota

As you likely have heard, it is projected the state will now
have a billion dollar plus ($1.086 billion) budget surplus for the remainder of
the two year budget period.  After the school shift is paid off, which is
required by law, it leaves $825 million in projected surplus left.  This
good news paves the way to repeal all of the sales tax extensions to business
services that never should have been enacted in the first place last
year.  The tax bill that majority party members pushed through the
legislature was controversial enough and the sales tax extensions were clearly
a pile on.  NFIB will strongly push to
repeal all of these business-to-business sales taxes that were just enacted
last year.  As you may recall, the legislature extended the sales tax to
the repair of business equipment, farm equipment, warehouse services and
telecommunications equipment purchased by telecommunications companies.

In reaction to this good news, Governor Dayton expressed his
support for repealing these new sales tax extensions and personally expressed
his opposition earlier to the farm equipment
repair sales tax despite the fact that he signed the bill last year.  We
appreciate the Governor’s support and will be pushing the other legislative
leaders and majority party members to support the repeal of these recently
enacted new taxes.

 

Related Content: NFIB in My State | State | Minnesota

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