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HF 2716

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:32pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to taxation; corporate franchise; accelerating the adoption of single sales
apportionment; amending Minnesota Statutes 2008, section 290.191, subdivision
2.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2008, section 290.191, subdivision 2, is amended to read:


Subd. 2.

Apportionment formula of general application.

(a) Except for those
trades or businesses required to use a different formula under subdivision 3 or section
290.36, and for those trades or businesses that receive permission to use some other
method under section 290.20 or under subdivision 4, a trade or business required to
apportion its net income must apportion its income to this state on the basis of the
percentage obtained by taking the sum of:

(1) the percent for the sales factor under paragraph (b) of the percentage which
the sales made within this state in connection with the trade or business during the tax
period are of the total sales wherever made in connection with the trade or business during
the tax period;

(2) the percent for the property factor under paragraph (b) of the percentage which
the total tangible property used by the taxpayer in this state in connection with the trade or
business during the tax period is of the total tangible property, wherever located, used by
the taxpayer in connection with the trade or business during the tax period; and

(3) the percent for the payroll factor under paragraph (b) of the percentage which
the taxpayer's total payrolls paid or incurred in this state or paid in respect to labor
performed in this state in connection with the trade or business during the tax period are
of the taxpayer's total payrolls paid or incurred in connection with the trade or business
during the tax period.

(b) For purposes of paragraph (a) and subdivision 3, the following percentages apply
for the taxable years specified:

Taxable years beginning
during calendar year
Sales factor
percent
Property factor
percent
Payroll factor
percent
2007
78
11
11
2008
81
9.5
9.5
2009
84
8
8
2010
87
6.5
6.5
deleted text begin 2011
deleted text end
deleted text begin 90
deleted text end
deleted text begin 5
deleted text end
deleted text begin 5
deleted text end
deleted text begin 2012
deleted text end
deleted text begin 93
deleted text end
deleted text begin 3.5
deleted text end
deleted text begin 3.5
deleted text end
deleted text begin 2013
deleted text end
deleted text begin 96
deleted text end
deleted text begin 2
deleted text end
deleted text begin 2
deleted text end
deleted text begin 2014deleted text end new text begin 2011new text end and later calendar
years
100
0
0

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after
December 31, 2010.
new text end