Yes, this is correct. In fact the IRS states that cash rebates are not taxable. Minnesota law, although not specifically addressed, conforms with federal law. Please read this IRS source regarding taxable and non-taxable income and cash rebates is listed here as non-taxable income.
Now since you received a 1099 MISC, you should report it and then back out of the income as I suggested earlier so that the IRS has a record of your 1099 MISC and that it has been reported. You do not need to make an adjustment in your Minnesota return because an adjustment has already been made in your federal return and reflected in your Minnesota AGI amount.
[Edited 02/19/25|6:53 am PST]
@hoffadg
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