1.1 	A bill for an act
1.2 	relating to taxation; corporate franchise; reducing rate;amending Minnesota 
1.3 	Statutes 2010, section 290.06, subdivision 1.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2010, section 290.06, subdivision 1, is amended to read:
1.6 		Subdivision 1.Computation, corporations. The franchise tax imposed upon 
1.7 	corporations shall be computed by applying to their taxable income the rate of 9.8 8.99 
1.8 	 percent.

1.9 	EFFECTIVE DATE. This section is effective for taxable years beginning after 
1.10 	December 31, 2010.