MN SF1762

Adds state tax subtraction for research and experimental expenditures charged to a capital account under Internal Revenue Code section 174(a)(2)(A) for individual income tax and corporate franchise tax purposes.

Requires taxpayers to add back the federal amortization deduction under Internal Revenue Code section 174(a)(2)(B) as a state tax addition for individual income tax and corporate franchise tax.

Effective for taxable years beginning after December 31, 2022.

Amends Minnesota Statutes sections 290.0131, 290.0132, 290.0133, and 290.0134 by adding new subdivisions.