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Bakk: Hold back some of surplus in case of tax-law...

2015-03-02 20:28:26| Paper - Topix.net

Senate Majority Leader Tom Bakk says he's reluctant to use Minnesota's projected $1.87 billion surplus entirely because of a tax lawsuit that would be costly if the state loses. Bakk wouldn't say Monday how large of a cushion his Democratic caucus would try to set aside, but said it is essential to prepare for the potential $700 million exposure.

Tags: of back case hold

Don't spend that surplus yet: Corporate tax case could cost MN $700 million

2015-03-02 15:14:04| Paper - Topix.net

A court challenge to the math used to calculate corporate taxes in Minnesota could add up to some big costs for the state - as much as $700 million, by one estimate. The Pioneer Press reports on the potential ramifications to a case in Minnesota Tax Court brought by Irving, Texas-based Kimberly-Clark Corp .

Tags: case cost million corporate