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Minnesota Taxes

Sound state tax policy decisions can contribute to a more equitable state economy and ensure that there are enough resources to sustainably fund schools, health care, vibrant communities, and other building blocks of a durable prosperity that includes all Minnesotans, regardless of who they are or where they live.

Minnesota Taxes and Tax Plans Research

May 2024

Advance periodic payments would make the Minnesota Child Tax Credit fit even better into family budgets

While 15 states have some form of state Child Tax Credit, Minnesota could be the first to implement a new way for families to get their Child Tax Credit: advance periodic payments. Advance periodic payments would get money in the pockets of Minnesota families sooner and more frequently during the year so they can better afford their daily lives. The 2023 tax bill allows for creation of a process for Minnesota families to choose to receive a portion of their Child Tax Credit in advance through multiple payments, instead of waiting to receive the full amount after they have filed their state income taxes. This brief covers how the advance payment process could work, its design principles, challenges, and policy responses. 

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January 2024

Minnesota's policy choices move it toward the top for tax fairness in 50-state study

In an era of income inequality and growing concentration of wealth, a new 50-state study analyzes whether state tax sys...

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May 2023

A Minnesota Child Tax Credit would unleash the power of the tax code to fight child poverty

Minnesota should join a growing number of states that have created Child Tax Credits, building on the remarkable success of the expanded federal Child Tax Credit in reducing child poverty and material hardship among families.

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February 2023

Who Receives the Renters' Credit? (TY 2019)

By providing property tax refunds to qualifying households, Minnesota helps bring down one of the costs of housing and creates a more equitable tax system. This issue brief provides data on the impact of the Renters’ Credit in each Minnesota county and for the state as a whole.

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Minnesota Taxes Blog Posts

March 29, 2023

House Property Tax Division bill includes transformational changes to the Renters’ Credit

One of the highlights of last year’s tax discussion is moving forward again this session: a game-changing proposal to...

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March 23, 2023

Early agreement on state budget targets outline use of the surplus

On Tuesday, the Minnesota House and Senate leadership and Governor Tim Walz released joint budget targets that lay out ...

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February 01, 2023

Governor Walz releases FY 2024-25 budget priorities

In his proposal for the two-year FY 2024-25 budget cycle, Governor Tim Walz proposes $11.2 billion in additional funding for public services, with the largest amount of new dollars going toward education, economic development, and health and human services. He also proposes $5.4 billion in tax reductions in FY 2024-25, with the biggest component being a one-time tax rebate. Read more in our blog.

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January 25, 2023

Child poverty declines sharply thanks to federal Child Tax Credit expansion

Thanks in part to improvements policymakers made to the federal Child Tax Credit (CTC), recent U.S. Census data show that from 2019 to 2021, child poverty fell a remarkable 59 percent. Minnesota policymakers should build on that success and create a state Child Tax Credit.

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Tax Credits for Workers and Families Research

May 2024

Advance periodic payments would make the Minnesota Child Tax Credit fit even better into family budgets

While 15 states have some form of state Child Tax Credit, Minnesota could be the first to implement a new way for families to get their Child Tax Credit: advance periodic payments. Advance periodic payments would get money in the pockets of Minnesota families sooner and more frequently during the year so they can better afford their daily lives. The 2023 tax bill allows for creation of a process for Minnesota families to choose to receive a portion of their Child Tax Credit in advance through multiple payments, instead of waiting to receive the full amount after they have filed their state income taxes. This brief covers how the advance payment process could work, its design principles, challenges, and policy responses. 

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January 2024

Who receives the Child and Dependent Care Tax Credit?

This brief takes a look at Minnesota’s Child and Dependent Care Tax Credit, which is one part of a spectrum of state investments to bring down the cost of child care, which also includes child care assistance, early learning scholarships, Head Start, and pre-K. The full version of this brief includes a table with data specific to each Minnesota county and the state as a whole.

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January 2024

Who receives the Working Family Credit?

Minnesota's Working Family Tax Credit encourages and supports work, makes the tax system more equitable, and helps working people across the state to meet their basic needs and get their kids off to a strong start. This brief includes county-level information about the Working Family Credit.

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January 2024

Who receives the Renters' Credit?

Minnesota's property tax refund for renters, or Renters' Credit, helps bring down one of the costs of housing and creates a more equitable tax system. This issue brief includes information about the Renters' Credit for each county and for the state as a whole.

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