Bill
Bill > HF2768
MN HF2768
MN HF2768Individual income taxes, corporate franchise taxes, sales and use taxes, and other various taxes and tax-related provisions modified; various policy and technical changes made; income tax credits and subtractions modified; and enforcement, return, and audit provisions modified.
summary
Introduced
03/24/2025
03/24/2025
In Committee
03/24/2025
03/24/2025
Crossed Over
Passed
Dead
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to taxation; modifying individual income taxes, corporate franchise taxes, sales and use taxes, and other various taxes and tax-related provisions; making various policy and technical changes; modifying income tax credits and subtractions; modifying partnership provisions; modifying sales and use tax exemptions; modifying sales and use tax collections and deposits; modifying property tax classification; modifying enforcement, return, and audit provisions; amending Minnesota Statutes 2024, sections 116U.27, subdivision 2; 270C.445, subdivisions 3, 6; 273.13, subdivision 22; 289A.08, subdivision 7a; 289A.12, subdivision 18; 289A.31, subdivision 1; 290.01, subdivision 19; 290.0132, subdivisions 26, 34; 290.0134, subdivision 20; 290.0693, subdivisions 1, 6, 8; 290.0695, subdivision 2; 297A.71, subdivision 54; 297A.75, subdivisions 1, 2, 3; 297A.94; 297A.99, subdivision 10; 297A.995, subdivisions 2, 10; 297E.06, subdivision 4; 297I.20, subdivision 4; Laws 2023, chapter 1, sections 22; 28.
AI Summary
This bill makes numerous modifications to Minnesota's tax laws across various domains. Specifically, the bill updates provisions related to individual income taxes, corporate franchise taxes, sales and use taxes, tax credits, tax return requirements, and other miscellaneous tax-related provisions. Key changes include modifying the Social Security benefits subtraction, adjusting qualified retirement benefits deductions, updating pass-through entity tax rules, extending film production tax credits through 2031, revising tax preparer standards of conduct, changing property tax classification rates, and making technical corrections to various tax statutes. The bill introduces several effective dates, with many provisions retroactively applying to tax years beginning after December 31, 2022, while others take effect for future tax years or the day following final enactment. The changes aim to clarify existing tax laws, provide additional tax relief in certain circumstances, and improve administrative processes for tax collection and reporting.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Hearing (09:00:00 5/6/2025 ) (on 05/06/2025)
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=HF2768&ssn=0&y=2025 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF2768&version=0&session=ls94&session_year=2025&session_number=0&format=pdf |
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