Office of the Revisor of Statutes
HF 991
Introduction - 87th Legislature (2011 - 2012)
Posted on 03/09/2011 09:57 a.m.
KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to taxation; corporate franchise; reducing rate; amending Minnesota
Statutes 2010, section 290.06, subdivision 1.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2010, section 290.06, subdivision 1, is amended to read:
Subdivision 1.
Computation, corporations.
The franchise tax imposed upon
corporations shall be computed by applying to their taxable income the rate of deleted text begin 9.8deleted text end new text begin 8.99
new text end percent.
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