Minnesota Report
As we review the information from the Minnesota Budget and Economic Forecast FY 2028-29 specifically, the costs resulting from Federal Tax Conformity regarding elimination of taxes on tips and overtime, impact will be over $600 million.
This would eat up a chunk of the proposed $3.734 billion surplus. This bill SF1488 is being offered by Republican Assistant Minority Leader Senator Karin Housley (R-34, Stillwater) with the House Companion HF1221 being carried by Rep Andrew Myers (R-45A, Excelsior).