MINNEAPOLIS, Jan 22 (Reuters) - Minnesota would overhaul its state tax system under a $37.9 billion two-year general fund budget that Governor Mark Dayton unveiled on Tuesday. The Democratic governor called for a drop in local property taxes, an income tax rate increase for higher earners, a lower corporate tax rate coupled with the closure of tax loopholes, a cut in the sales tax rate, and a cigarette tax hike.

 

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