Bill
Bill > HF72
MN HF72
Individual income tax and corporate franchise tax refunds modified, and refunds required to include interest calculated on payments of estimated tax.
summary
Introduced
01/05/2023
01/05/2023
In Committee
01/05/2023
01/05/2023
Crossed Over
Passed
Dead
05/20/2024
05/20/2024
Introduced Session
93rd Legislature 2023-2024
Bill Summary
A bill for an act relating to taxation; modifying individual income tax and corporate franchise tax refunds; requiring refunds to include interest calculated on payments of estimated tax; amending Minnesota Statutes 2022, section 289A.50, subdivision 1.
AI Summary
This bill modifies the individual income tax and corporate franchise tax refunds in Minnesota. It requires refunds to include interest calculated on payments of estimated tax, starting for taxable years beginning after December 31, 2022. The interest rate used to calculate the refunded interest is the same rate used to calculate interest paid to the Minnesota Department of Revenue under section 289A.55, subdivision 1.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Author added Scott (on 01/17/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0072&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF72&version=0&session=ls93&session_year=2023&session_number=0&format=pdf |
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