| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to taxation; corporate franchise; requiring the Department of Revenue to |
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| 3 | 3 | | 1.3 make available certain corporate franchise tax information; proposing coding for |
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| 4 | 4 | | 1.4 new law in Minnesota Statutes, chapter 270B. |
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| 5 | 5 | | 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 6 | 6 | | 1.6 Section 1. [270B.163] DISCLOSURE OF CERTAIN CORPORATE FRANCHISE |
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| 7 | 7 | | 1.7TAX INFORMATION. |
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| 8 | 8 | | 1.8 (a) Except as otherwise provided in this section, within one month from the first day of |
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| 9 | 9 | | 1.9the third calendar year following the calendar year in which a taxpayer's taxable year ends, |
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| 10 | 10 | | 1.10the commissioner must make the following information available on a website: |
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| 11 | 11 | | 1.11 (1) a corporation's corporate franchise tax return required under section 289A.18, |
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| 12 | 12 | | 1.12subdivision 1; |
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| 13 | 13 | | 1.13 (2) all corporate franchise tax forms relating to the calculation of income, apportionment, |
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| 14 | 14 | | 1.14and calculation of tax; and |
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| 15 | 15 | | 1.15 (3) the corporation's identity for state corporate franchise tax purposes. |
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| 16 | 16 | | 1.16 (b) This section does not authorize the commissioner to disclose a corporation's federal |
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| 17 | 17 | | 1.17return or federal return information. |
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| 18 | 18 | | 1.18 (c) This section applies to a corporation required to file a return under section 289A.08, |
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| 19 | 19 | | 1.19subdivision 3, that has $250,000,000 or more in aggregate gross sales or receipts in a taxable |
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| 20 | 20 | | 1.20year, including a unitary business under section 290.17, subdivision 4. |
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| 21 | 21 | | 1.21 (d) Compliance with this section by the commissioner is not a violation of this chapter. |
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| 22 | 22 | | 1Section 1. |
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| 23 | 23 | | 25-01317 as introduced01/09/25 REVISOR EAP/LJ |
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| 24 | 24 | | SENATE |
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| 25 | 25 | | STATE OF MINNESOTA |
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| 26 | 26 | | S.F. No. 2780NINETY-FOURTH SESSION |
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| 27 | 27 | | (SENATE AUTHORS: MARTY, Mohamed, Boldon, Pha and Dibble) |
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| 28 | 28 | | OFFICIAL STATUSD-PGDATE |
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| 29 | 29 | | Introduction and first reading03/20/2025 |
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| 30 | 30 | | Referred to Taxes 2.1 EFFECTIVE DATE.This section is effective for information required to be made |
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| 31 | 31 | | 2.2available in calendar years beginning after December 31, 2025. |
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| 32 | 32 | | 2Section 1. |
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| 33 | 33 | | 25-01317 as introduced01/09/25 REVISOR EAP/LJ |
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