Rep. Joe McDonald | Facebook
Rep. Joe McDonald | Facebook
Farmers and businesses faced unprecedented state taxes last year resulting from loopholes in state code, but legislative authority aims to put a stop to it.
“Let's get this done," said Rep. Joe McDonald in a Facebook post.
House Speaker Melissa Hortman, House Minority Leader Kurt Daudt, Senate Majority Leader Paul Gazelka and Senate Minority Leader Susan Kent said that they were going to alter Section 179 of the state’s tax code to bring it in accordance with the Federal Tax Code in order to relieve farmers and businesses of the staggering taxes.
These taxes were imposed on the said parties when they traded for heavy machinery and equipment in 2018 as a result of an inadequacy in Minnesota tax code, a bill aiming to align the tax code of Minnesota with the Federal Tax Code was proposed by Rep. Greg Davids the previous year. This bill also cancels out the interests as well as sanctions on unsettled loans that the Minnesota Department of Revenue had invoked on the state residents.
“It’s time to right this wrong for our farmers and businesses," Davids said.
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