Legislator adapts income tax law | Different opinions

The legislature adjusted the state income tax bill at the end of the special session to offset the federally tax-exempt funds distributed to Minnesota companies and workers through the Paycheck Protection Program (PPP) program and federal unemployment benefits.

The changes affect the federal share of unemployment benefits, the waiver of PPP loans, and other retroactive provisions affecting the 2017-2020 tax years. Visit the Minnesota Department of Revenue (DOR) website for updated Minnesota 2020 tax forms.

If you filed a 2020 state income tax return that included unemployment benefit or PPP loan waiver, DOR will either amend the return or ask you to change it. Here is a summary of the options.

If DOR can adjust the return, they will send you a letter describing what has changed and if you will receive a refund. DOR stated that they have committed to adjusting as many returns as possible.

If you need to make changes just because of changes in Minnesota tax law, wait until you hear from the DOR to file. DOR will let you know if your return can be customized or a change is needed.

If you haven’t filed a 2020 declaration or applied for an extension, you can use the updated forms to apply for the recent Unemployment Income Exclusions / Deductions and PPP Loans.

A multi-state deal for $ 26 billion with the country’s top three pharmaceutical opioid manufacturers was announced this week. Minnesota’s stake is estimated at approximately $ 337 million to be allocated over the next several years.

The state’s Opioid Epidemic Response Advisory Council will oversee how funds are spent in Minnesota. Former Area Resident, Rep. Dave Baker (now of Willmar, MN) is vice chairman of the board.

The comparison comprised a large number of company-specific agreements:

Establish a clearing house for data and analysis on where drugs are used.

Continue to identify suspects and take appropriate action. Prescriptions of Opioid Prescriptions

Ending third party funding to promote opioid use and lobbying activities related to opioids.

Share clinical trial data through Yale University’s Open Data Access Project.

States have 30 days to sign the agreement. Local governments in participating states have until January 1, 2022 to join in order to secure critical mass of participating states and local governments.

Dale Lueck (R) is the country representative for District 10B.