1.1 A bill for an act
1.2 relating to taxation; corporate franchise; requiring the Department of Revenue to
1.3 make available certain corporate franchise tax information; proposing coding for
1.4 new law in Minnesota Statutes, chapter 270B.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [270B.163] DISCLOSURE OF CERTAIN CORPORATE FRANCHISE
1.7TAX INFORMATION.
1.8 (a) Except as otherwise provided in this section, within one month from the first day of
1.9the third calendar year following the calendar year in which a taxpayer's taxable year ends,
1.10the commissioner must make the following information available on a website:
1.11 (1) a corporation's corporate franchise tax return required under section 289A.18,
1.12subdivision 1;
1.13 (2) all corporate franchise tax forms relating to the calculation of income, apportionment,
1.14and calculation of tax; and
1.15 (3) the corporation's identity for state corporate franchise tax purposes.
1.16 (b) This section does not authorize the commissioner to disclose a corporation's federal
1.17return or federal return information.
1.18 (c) This section applies to a corporation required to file a return under section 289A.08,
1.19subdivision 3, that has $250,000,000 or more in aggregate gross sales or receipts in a taxable
1.20year, including a unitary business under section 290.17, subdivision 4.
1.21 (d) Compliance with this section by the commissioner is not a violation of this chapter.
1Section 1.
25-01317 as introduced01/09/25 REVISOR EAP/LJ
SENATE
STATE OF MINNESOTA
S.F. No. 2780NINETY-FOURTH SESSION
(SENATE AUTHORS: MARTY, Mohamed, Boldon, Pha and Dibble)
OFFICIAL STATUSD-PGDATE
Introduction and first reading03/20/2025
Referred to Taxes 2.1 EFFECTIVE DATE.This section is effective for information required to be made
2.2available in calendar years beginning after December 31, 2025.
2Section 1.
25-01317 as introduced01/09/25 REVISOR EAP/LJ