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HF 991

as introduced - 87th Legislature (2011 - 2012) Posted on 03/09/2011 09:57am

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 03/09/2011

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8
1.9 1.10

A bill for an act
relating to taxation; corporate franchise; reducing rate; amending Minnesota
Statutes 2010, section 290.06, subdivision 1.

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

Section 1.

Minnesota Statutes 2010, 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 begin9.8deleted text endnew text begin 8.99
new 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, 2010.
new text end