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Published July 01, 2013, 03:45 PM

Record tax increases in MN

The cigarette tax is just part of record-large increases taking effect today. Minnesota's two-year budget includes more than $2 billion in new taxes to help plug a $627 million budget deficit.

The cigarette tax is just part of record-large increases taking effect today. Minnesota's two-year budget includes more than $2 billion in new taxes to help plug a $627 million budget deficit.

Income taxes are headed up to nearly 10 percent on couples who earn more than $250,000 or individuals making at least $150,000. Taxes will be collected on movies, music, books and games downloaded from the Internet. Online retailers that have a Minnesota connection are now forced to charge a sales tax. A new state gift tax will be collected, and counties statewide may begin to levy a "wheelage tax," a charge for each vehicle.

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