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Update: Gov. Dayton Signs Tax Cut Bill

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Gov. Dayton has signed a bill providing hundreds of thousands of Minnesota taxpayers with extra deductions and exemptions they can claim on this year's tax forms.
  
Dayton signed the $434 million relief package soon after both the House and Senate approved it by lopsided margins.
Among the recipients are those who get working family credits, recent college graduates paying off loans and people receiving certain tuition allowances.
 
"It shows that we have a balance approach in  Minnesota. That's what people wanted in the 2012 election in  Minnesota - not the extreme of all cuts, but instead prudent fiscal management."
 
The Minnesota Department of Revenue is working with tax preparers and online tax preparation services to update tax-filing software for Minnesotans who have not yet filed their taxes.


For those who have already filed their taxes, the department will review each tax return and determine whether adjustments and refunds can be made automatically.
The department will contact any taxpayer who needs to file an amended return to receive the new tax benefits.