Minnesota officials say error in tax cut bill could cost taxpayers $352 million, but promised a fix

MINNEAPOLIS (AP) — Minnesota officials discovered an error in a tax cut bill lawmakers passed this spring that could cost taxpayers $352 million over the next two years, but state leaders promised to fix it before it would take effect. The head of the Minnesota Revenue Department Paul Marquart told the Minneapolis Star Tribune on Friday that his staff caught the error when they were reviewing the nearly 400-page bill. By mistake, lawmakers used the 2019 standard deduction for the 2024 tax year without including four years of adjustments for inflation. That means most taxpayers’ standard deduction would be $1,600 smaller.