May is National Military Appreciation Month!
Minnesota Department of Revenue sent this bulletin at 05/01/2020 08:36 AM CDT|
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In honor of National Military Appreciation Month, the Minnesota Department of Revenue reminds military members and their families about Minnesota’s valuable military-related tax benefits. We will send weekly messages throughout the month to highlight some of these benefits.
What military tax benefits does Minnesota offer?
Visit our Military Service Members page to learn about military tax benefits and how to claim them. Our military tax benefits include:
- Military Pension Subtraction You may be able to subtract military retirement pay (including pensions) from your Minnesota taxable income.
- Credit for Military Service in a Combat Zone You may qualify for this credit if you served in a combat zone or qualified hazardous duty area on or after January 1, 2016.
- Credit for Past Military Service If you are a U.S. military veteran, including the National Guard and Reserves, you may qualify for a credit up to $750 for your past service.
- Active-Duty Military Pay Subtraction You may be able to subtract federally taxable active-duty military pay from your Minnesota taxable income.
- Filing Extensions for Military Service Members You may qualify for an extension if you are serving in the U.S. military and cannot file or pay Minnesota income tax by the due date.
- Market Value Exclusion on Homesteads of Disabled Veterans You may qualify for a property tax exclusion on your homestead. You must be an honorably discharged veteran with a service-connected disability rating of 70% or higher.
What if I filed my Minnesota income tax return and did not claim these benefits?
You may amend your Minnesota return using Form M1X, Amended Minnesota Income Tax, and claim these benefits. See our current and prior year forms and instructions to find this form. To claim a refund, you must generally amend your return within 3.5 years from your original return due date.
Where can I find more information?
