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MN SF5511
Bill
Status
Introduced
5/6/2024
Primary Sponsor
Jeff Howe
Click for details
AI Summary
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Adds a tax subtraction for S corporation financial institutions on income from commercial loans valued at $5,000,000 or less provided to Minnesota residents or businesses for business or agricultural purposes.
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Adds a tax subtraction for all financial institutions on income from commercial loans valued at $5,000,000 or less provided to Minnesota residents or businesses for business or agricultural purposes.
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Applies to taxable years beginning after December 31, 2023.
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Amends Minnesota Statutes sections 290.0132 and 290.0134 to create these new income subtractions.
Legislative Description
Income tax subtraction for certain commercial loans issued by financial institutions authorization
Last Action
Referred to Taxes
5/6/2024
Committee Referrals
Taxes5/6/2024
Full Bill Text
No bill text available