Minnesota Legislature
HF 3480
as introduced - 92nd Legislature (2021 - 2022) Posted on 02/28/2022 04:39pm
KEY: stricken = removed, old language.
underscored = added, new language.
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 02/15/2022 |
Current Version - as introduced
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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 9.3new 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