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May 28

Minnesota 2013 “Snowbird Tax” & Legislative Update

Recently, questions have been raised over proposed Minnesota tax increases, specifically a “snowbird tax”.  According to The Wall Street Journal, “Details are sketchy, but the idea is to tax these nonresidents on their income from stocks, bonds, capital gains and dividends if they spend at least 60 days in Minnesota a year.” (Minnesota’s Snowbird Tax)

 

The so-called “Snowbird Tax” not only has captured the attention of snowbirds but it has also captured the attention of Governor Walker in Wisconsin: 

 

Here is an excerpt from the StarTribune on May 22nd, 2013 (full article here):

 

The information in this article is not intended to be tax and/or legal advice and should not be treated as such. You should consult with your tax advisor and/or attorney to discuss your personal situation before making any decisions.

Additionally, If you are looking for additional help, seek help from a CERTIFIED FINANCIAL PLANNER™ Professional that can look at your individual situation holistically.