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MN SF1233
MN SF1233Income and corporate franchise tax research credit extension to sole proprietors
summary
Introduced
02/14/2019
02/14/2019
In Committee
02/14/2019
02/14/2019
Crossed Over
Passed
Dead
05/17/2020
05/17/2020
Introduced Session
91st Legislature 2019-2020
Bill Summary
Income and corporate franchise tax research credit extension to sole proprietors
AI Summary
This bill extends the income and corporate franchise tax research credit to sole proprietors, in addition to corporations and S corporations. The credit is equal to 10% of the first $2 million of qualified research expenses that exceed the base amount, and 4% on any excess expenses over $2 million. The changes are effective for taxable years beginning after December 31, 2018.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to Taxes (on 02/14/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF1233&ssn=0&y=2019 | 02/14/2019 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF1233&version=0&session=ls91&session_year=2019&session_number=0&format=pdf | 02/14/2019 |
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