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Click below to learn more about Minnesota Tax Credits that could help you reduce your taxes or increase your refund:
The maximum credit is $1,750 per child under age 18, with no limit on the number of children claimed. The credit is phased out if your income is over $37,910 for Married Filing Jointly, or over $31,950 for other filers.
Working Family Credit depends on your number of qualifying children age 18 or older:
• $379 for no qualifying children
• $1,379 for one qualifying child
• $2,649 for two qualifying children
• $3,089 for three or more qualifying children
Credits are phased out if your income is over $35,000 for Married Filing Jointly or over $29,500 for other filers. The credit is reduced by 12% of earned income or adjusted gross income, whichever is greater.
K-12 Education Credit: Your adjusted gross income must be below the levels shown here. If you qualify for the credit, you must file a Minnesota return to claim a refund.
| Number of qualifying children in K-12: | Adjusted gross income must be less than: |
| 1 or 2 | $81,820 |
| 3 | $84,820 |
| More than 3 | $87,820 plus $3,000 for each additional child |
K-12 Education Subtraction: There are no income limits for the education subtraction.
https://www.revenue.state.mn.us/k-12-education-subtraction-and-credit
The state’s Homestead Credit Refund provides property tax relief based on your income and property taxes. Minnesota has two property tax refund programs for homeowners:
Regular property tax refund This refund is available for homeowners with either a Social Security Number or Individual Taxpayer Identification Number (ITIN). You must meet certain income limits to qualify. For details, go to the Minnesota Department of Revenue’s website. http://www.revenue.state.mn.us/property-tax-refund
Special property tax refund Homeowners usually qualify for the special refund if all of these are true:
- You owned and lived in your home on January 2 of each year
- Your home’s property tax increased by more than 12%
- The property tax increase was at least $100
Unlike the regular refund, there is no income limit to claim the special refund.
To get the credit, you must provide Certificate of Rent Paid information when filing your income tax return. The credit decreases how much you owe or increases your refund.
Your household income must be below $77,570 with adjustments made for people who are over 65 or disabled and the number of dependents you are claiming.
You can still claim the credit if your income was less than your rent paid. You must give an explanation of how you received the funds to pay your rent.