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September 2, 2014

Minn., Wis. millions of dollars apart on tax deal as deadline approaches

Minnesota and Wisconsin have until Oct 1. to agree how much money the Badger State should pay Minnesota for tax reciprocity. The Pioneer Press reports Minnesota revenue officials have pegged the figure at $96 million, but Wisconsin’s estimate is $55.6 million. Roughly 60,000 Wisconsin residents work in Minnesota, while 20,000 Minnesotans work in Wisconsin. In February, the two states reached an agreement in principle that would allow residents who live in one state and work in the other to file one state income tax return.