MN SF80

Defines "high pay ratio corporation" as any corporation where the highest-paid executive's hourly compensation exceeds the lowest-paid employee or contractor's hourly wage by a ratio greater than 50 to 1.

Increases corporate franchise tax rates for high pay ratio corporations based on pay ratio thresholds, ranging from 0.5 percentage points (50-100:1 ratio) to 5 percentage points (greater than 500:1 ratio).

Amends research credit provisions to clarify that "liability for tax" includes taxes under the new subdivision 1b for high pay ratio corporations.

Updates alternative minimum tax provisions to reference the new high pay ratio tax rate when calculating qualified regular tax and alternative minimum tax liabilities.

Effective for taxable years beginning after December 31, 2023.