Bill > SF2780

This bill requires the Minnesota Department of Revenue to publicly disclose certain corporate franchise tax information for large corporations with $250,000,000 or more in aggregate gross sales or receipts. Specifically, within one month of the third calendar year following a taxpayer's taxable year, the department must make available on a public website the corporation's corporate franchise tax return, all tax forms related to income calculation and apportionment, and the corporation's identity for state tax purposes. The bill importantly excludes federal tax returns and federal tax return information from disclosure. The provision will become effective for information to be made available in calendar years starting after December 31, 2025, and applies to corporations required to file tax returns, including unitary businesses. The bill emphasizes that the commissioner's compliance with this disclosure requirement does not constitute a violation of existing tax information privacy regulations.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2780&ssn=0&y=2025