Tell the Legislature to pass Section 179 now

The 2019 Minnesota tax bill enacted retroactive state income tax increases on many farmers and businesses by conforming to the Federal Tax Cuts and Jobs Act but did so without adoption of most of the federal offsets. Both the Governor and the legislature have said that Section 179 conformity is a priority but have not been able pass and sign a bill during the 2020 regular session and multiple special sessions over the summer.

Tell your Minnesota Senator and Representative to pass Section 179 now by clicking here

During the July special session agreed upon language between the House and Senate included retroactive fixes to the tax hit some taxpayers experienced when they traded in equipment in 2018 and 2019 as well as full Section 179 conformity going forward. However, neither the House nor Senate has shown that they are willing to pass a stand-alone tax bill, choosing to only pass a tax bill if an agreed upon bonding bill can be passed as well. Time is running out in 2020 to get retroactive relief and full conformity passed.

Contact your legislators today to urge them to finish their work and pass both the tax and bonding bills. The legislature could be back in session in late September to take up these measures.