SF 3008

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/23/2023 08:42am

A bill for an act
relating to taxation; limiting assessments of individual income, corporate franchise,
and sales and use taxes; amending Minnesota Statutes 2022, section 270C.33, by
adding a subdivision.

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

Section 1.

Minnesota Statutes 2022, section 270C.33, is amended by adding a subdivision
to read:

new text begin Subd. 4a. new text end

new text begin Limitations; sales, corporate, and income taxes. new text end

new text begin (a) The provisions of this
subdivision are a limitation on the assessment authority of the commissioner under this
section.
new text end

new text begin (b) The commissioner must not assess additional tax due under chapter 290 or 297A if
each of the following requirements are met:
new text end

new text begin (1) the tax reported by the taxpayer is consistent with and based on past reporting or
other practices of the taxpayer that were fully disclosed to the commissioner and were
approved, in writing, to the taxpayer by the commissioner, including by issuing an audit
assessing no additional tax liability with respect to that item for a prior taxable period; and
new text end

new text begin (2) for a taxable period beginning after the period covered by clause (1), neither the
statute or administrative rule on which the reporting or other practice is based has been
materially changed, nor has the commissioner issued a revenue notice or directly notified
the taxpayer, in writing, of a change in the commissioner's position as to the proper reporting
or other treatment of the relevant income, transaction, deduction, or other item.
new text end

new text begin (c) For an audit of a prior taxable period by the commissioner, paragraph (b), clause (1),
applies only to the issues within the scope of and specifically addressed by the audit.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for assessments made after June 30,
2023.
new text end