HF 4513

as introduced - 93rd Legislature (2023 - 2024) Posted on 04/12/2024 12:07am

A bill for an act
relating to taxation; corporate franchise; requiring the Department of Revenue to
make available certain corporate franchise tax information; proposing coding for
new law in Minnesota Statutes, chapter 270B.

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

Section 1.

new text begin [270B.163] DISCLOSURE OF CERTAIN CORPORATE FRANCHISE
TAX INFORMATION.
new text end

new text begin (a) Except as otherwise provided in this section, within one month from the first day of
the third calendar year following the calendar year in which a taxpayer's taxable year ends,
the commissioner must make the following information available on a website:
new text end

new text begin (1) a corporation's corporate franchise tax return required under section 289A.18,
subdivision 1;
new text end

new text begin (2) all corporate franchise tax forms relating to the calculation of income, apportionment,
and calculation of tax; and
new text end

new text begin (3) the corporation's identity for state corporate franchise tax purposes.
new text end

new text begin (b) This section does not authorize the commissioner to disclose a corporation's federal
return or federal return information.
new text end

new text begin (c) This section applies to a corporation required to file a return under section 289A.08,
subdivision 3, that has $250,000,000 or more in aggregate gross sales or receipts in a taxable
year, including a unitary business under section 290.17, subdivision 4.
new text end

new text begin (d) Compliance with this section by the commissioner is not a violation of this chapter.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for information required to be made
available in calendar years beginning after December 31, 2024.
new text end