Latest News: Latest News

Governor Dayton Signs Bill to Repeal Warehousing Tax

Monday, March 24, 2014  
Share |
Late Friday, Governor Dayton signed a $434-million dollar tax reform bill into law after it was approved by both the Minnesota Senate and the House in the afternoon. The bill passed in the Senate with a 58-5 margin. It repeals the B2B taxes approved last year, including the sales tax on warehousing services. The House approved the bill 126-6 following the Senate vote and Governor Mark Dayton signed it shortly after. The Minnesota Department of Revenue will now reportedly review individual tax returns that have already been filed and determine whether adjustments and refunds can be made automatically, and will contact any taxpayer who needs to file an amended return to receive the new tax benefits.