Tax & Accounting Blog

Minnesota Income Tax Rate Change Retroactive to January 1

Minnesota Income Tax Rate Change Retroactive to January 1

Minnesota Governor Dayton signed the new omnibus budget bill HF 677 on May 23, enacting a compromise on income tax rates worked out in conference between the state House and Senate which had passed different versions of the bill. The newly approved income tax rate structure is retroactive to January 1, 2013, and changes affect … Read More

Case Ruling in Favor of Exemption of Charitable Organizations in Montana

Case Ruling in Favor of Exemption of Charitable Organizations in Montana

Family Promise of Great Helena v. Dept. of Rev., Dkt. No. SPT-2012-8, 05/23/2013. A ruling by the Montana State Tax Appeal Board provides that a charitable organization was entitled to a property tax exemption in 2012 even though it did not file a timely exemption application. The organization was granted an exemption from the Department … Read More

Economic Downturn Reduced Value of Commercial Property in Nebraska

Economic Downturn Reduced Value of Commercial Property in Nebraska

The Nebraska Tax Equalization and Review Commission has ruled that several commercial rental properties were overvalued as of January 1, 2009 because the Douglas County Assessor failed to consider the impact of the economic crisis that occurred during 2008 on the valuation of the subject properties.   The Douglas County Appraiser’s testimony and the Douglas … Read More