New Minnesota law exempts sexual harassment and abuse settlements from state income taxes
Jul 06, 2023 09:27AM ● By Content Editor
Photo: Bao Chau
By Caroline Cummings - CBS Minnesota News - July 6, 2023
This year, Minnesota lawmakers changed the law so the state doesn't line its pockets from tax revenue collected on sexual harassment or abuse settlements -- a lesser-known provision inside a bill that also included one-time rebate checks and social security tax cuts.
This year, Minnesota lawmakers changed the law so the state doesn't line its pockets from tax revenue collected on sexual harassment or abuse settlements -- a lesser-known provision inside a bill that also included one-time rebate checks and social security tax cuts.
Supporters of the change say such settlements should be treated just like financial compensation a person may receive for being physically injured on the job, which is held harmless from both state and federal taxes.
To read the full story, visit the CBS Minnesota News site here.