August 17, 2023
ST. PAUL, Minn. (AP) — Income tax rebates of $260 for individuals and up to $1,300 for families of five are already starting to show up in the bank accounts of about 2.1 million Minnesota residents.
The rebates, adding up to about $1 billion, are part of legislation signed by Democratic Gov. Tim Walz in May to return a portion of a projected $17.6 billion budget surplus to taxpayers. He said at a news conference that the aim of the rebates and the rest of package was to “make life more affordable for middle-class Minnesotans.”
Payments of $260 will go to individuals whose adjusted gross income in 2021 was $7,500 or less. Married couples who file jointly and had adjusted gross incomes of $150,000 or less will get $520.
Eligible families will also get another $260 per dependent, up to three, for a maximum of $1,300.