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HF 3479

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/07/2022 04:14pm

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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A bill for an act
 relating to taxation; decreasing the corporate franchise tax rate; amending Minnesota
Statutes 2020, section 290.06, subdivision 1.

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

Section 1.

Minnesota Statutes 2020, 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 8.8new 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, 2021.
 new text end