As you prepare for the upcoming school year, the Minnesota Department of Revenue would like your help informing families about two state programs: the Minnesota K-12 Education Credit and Subtraction. Many families do not know about, or take advantage of, these valuable tax benefits. What should families know? These benefits can reduce parents' taxes and increase their refund, but only if they save receipts for their qualifying education expenses. Most Minnesota parents qualify for the K-12 Education Subtraction, which reduces their taxable income. Parents may also qualify for the K-12 Education Credit under certain income limits. The credit can refund up to 75% of parents' costs - even if they do not owe tax. What education expenses qualify? Most expenses for educational instruction or materials qualify, including:
How can I help inform parents? Visit our K-12 Promotional Materials page to find handouts, sample messages, and our promotional video.
Questions? If you have questions or need more information, contact us:
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Tax Benefits
August 6, 2019