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MN SF3312
Bill
Status
3/23/2010
Primary Sponsor
John Doll
Click for details
AI Summary
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Reduces corporate franchise tax rate from 9.8% to 9.4% effective for taxable years beginning after December 31, 2011
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Reduces alternative minimum tax rate for corporations from 5.8% to 5.6% effective for taxable years beginning after December 31, 2011
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Repeals the Job Opportunity Building Zone (JOBZ) program effective January 1, 2011, including related tax exemptions and business subsidy provisions
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Allows qualified businesses to void existing JOBZ business subsidy agreements 30 days after enactment with no requirement to repay prior tax benefits
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Removes JOBZ-related exemptions from corporate taxable income calculations, sales tax, and use tax provisions effective December 31, 2010
Legislative Description
Corporate franchise rate reduction; job opportunity building zones (JOBZ) program repeal
Last Action
Senate: Introduction and first reading
3/23/2010