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Tax bill brings cuts, no hikes, Cohasset project


The Minnesota tax bill passed earlier this month by the Legislature looks to provide a number of breaks for local businesses and people impacted by the COVID-19 pandemic, while also clearing the way for a large-scale wood products project in Cohasset.
It didn’t cut the muster for the entire Iron Range Delegation, however.
The bill would produce $49.1 billion in revenue in the 2022-23 biennium that started July 1 and provide $4.2 billion in refunds, aids and credits, including $761 million in new tax cuts and credits, and no tax increases previously proposed by Democrats.
Among those include bringing the state tax law into conformity with the federal government on forgiving Paycheck Protection Program loans and unemployment benefits up to $10,200. ....

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