![]() Forty years of military service and sitting in an outdoor lot waiting for a buyer does a job on components. The Democratic-Farmer-Labor Party-led Legislature also approved new tax increases, including on corporations and high earners.Anything crucial that needs replacing gets fixed as part of the base purchase price. There are other changes in the tax bill, including an expanded child tax credit and a broader exemption for state taxes on Social Security benefits. The one-time rebates will cost the state about $1.1 billion that will come from Minnesota’s historic $17.5 billion budget surplus. The rebate checks are part of the latest tax bill approved by lawmakers in May. About 2.5 million taxpayers are expected to be eligible for a rebate. State officials expect the rebate checks to be sent out via mail or electronic deposit in early fall. Taxpayers do not have to apply for the rebate, if address or banking information is unchanged rebates will be sent to those who qualify. Residents can visit taxrebate.mn.gov to submit new or updated addresses and banking information until July 28. The Department of Revenue uses taxpayers’ 2021 adjusted gross income, line 1 on most state income tax forms, to determine eligibility. Individuals who earned $75,000 or less and couples with $150,000 or less of income are eligible for one-time rebates with $260 per taxpayer and up to three dependents. Minnesotans have until July 28 to make any needed updates to their address and bank information with the state Department of Revenue to ensure eligible taxpayers will get a one-time rebate check this fall.
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