ST. PAUL, Minn. (AP) – Revenue officials from Minnesota and Wisconsin say they hope to finalize an agreement on tax reciprocity that will allow residents who live in one state and work in the other to file just one state income tax return beginning next year.
About 60,000 Wisconsin residents who work in Minnesota and 20,000 people who live in Minnesota and work in the Badger State currently file two state tax returns. Wisconsin’s revenue secretary, Richard Chandler, and his counterpart in Minnesota, Myron Frans, say they hope to sign a new agreement by Oct. 1 so employers can be notified about new income tax withholding requirements.
Frans said Tuesday that no official agreement with Wisconsin has been reached.
The St. Paul Pioneer Press (http://bit.ly/zU1hIu ) reports both revenue chiefs say they have legal authority to sign a deal without legislative action.
Information from: St. Paul Pioneer Press,
(Copyright 2012 by The Associated Press. All Rights Reserved.)