Making policy, technical, administrative, enforcement and other changes to certain tax provisions

ARTICLE 1 - CORPORATE FRANCHISE, INDIVIDUAL INCOME, AND ESTATES TAXES

Modifying certain provisions relating to duties of the commissioner of revenue; defining nontax purpose, economic substances, tax effects, and transaction; specifying criteria for assessments; requiring foreign operating corporate tax return filing; imposing a noneconomic substance transaction understatement penalty under certain conditions; modifying certain income tax provisions relating to the definition of resident, subtractions from federal taxable income, corporations additions to federal tax income and modifications decreasing federal taxable income, modifying taxable net income, and taxable income, modifying exemptions for certain insurance companies, modifying schedules of tax rates for individuals, estates and trusts and the inflation adjustment of rate bracket, modifying the corporate credit allowance for increasing research activities, modifying the alternative minimum taxable income provision, modifying the franchise tax minimum fee imposed on certain corporations and partnerships, modifying certain mutual savings banks conducting life insurance business tax computation requirements, modifying net operating loss carryover requirements, modifying certain operating loss deduction allocation requirements for part-year residents and certain unitary business principle provisions; modifying certain apportionment of net income requirements for trades or businesses, modifying certain corporation dividend deductions, providing for computation of amount of income from insurance companies allocatable to state and report on net income, and modifying nonresident public speakers or entertainment entity tax withholding tax exemptions; modifying certain estate tax provisions relating to the definition of situs of property for a nonresident decedent and defining pass-through entity; modifying the insurance tax guaranty association assessment offsets provision; repealing certain provisions relating to the definition of foreign operating corporation, health insurance premiums credit, credit against tax on nonresident entertainers, and payment of refunds of overpayments of corporate franchise tax and of sales tax

ARTICLE 2 - FEDERAL UPDATE

Conforming state tax statute to federal tax treatment

ARTICLE 3 - PROPERTY TAXES

Modifying certain property tax provisions relating to state general levy against commercial-industrial property and seasonal residential recreational property; imposing a state general residential levy against residential homestead, agricultural homestead, residential nonhomestead, and seasonal residential recreational tax capacity

ARTICLE 4 - SALES AND USE TAXES

Modifying the definitions of sale and purchase, cable television service, direct satellite service, and accommodations intermediary and provider; modifying the rental motor vehicle tax rate; modifying certain jurisdiction to require collection and remittance of tax by retailer requirements for solicitors, requiring the collection of lodging services sales taxes by an accommodations intermediary, and defining florist sales; specifying certain leased ambulance equipment requirements for exemption purposes; and expanding revenue deposit requirements for credit to Explore Minnesota Tourism for promotional and marketing purposes; specifying certain revisor instructions; repealing a certain rule

ARTICLE 5 - SPECIAL TAXES

Modifying certain insurance tax provisions; defining and redefining certain terms and conforming certain provisions; modifying surplus lines tax requirements; repealing certain provisions relating to bad debt refunds, and tax imposed on persons, firms, or corporation procuring insurance from unlicensed foreign companies or from an ineligible company
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