By Payroll and Entitlements Editorial Staff
Minnesota Gov. Tim Walz has signed an omnibus tax bill that updates the federal conformity date for purposes of computing corporation franchise tax and personal income tax liability. The bill, which was approved by the state legislature during a short special session, also makes tax changes impacting: the personal income tax starting point; personal and dependent exemptions; the standard deduction; state itemized deductions; and the personal income tax rate.
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