MN SF1096

Requires tax refunds to include interest calculated on each installment of estimated tax paid by S corporations, partnerships, and corporations when those payments exceed taxes owed

Interest on estimated tax overpayments is calculated from the date each installment payment is made until the earlier of when the refund claim is filed or the tax due date

Interest rate for refunded amounts matches the rate taxpayers pay when they owe interest to the commissioner under existing law

Amends Minnesota Statutes section 289A.50, subdivision 1, governing the general right to tax refunds

Effective for refunds due on taxes paid for taxable years beginning after December 31, 2024