MN SF2835

Creates a refundable corporate franchise tax credit for corporations that establish or maintain corporate headquarters, division offices, or R&D facilities in Minnesota

Qualifying corporations must have at least $250 million in worldwide revenues, employ at least 250 eligible employees at the headquarters, and invest a minimum of $10 million in eligible expenses (relocation, renovation, or training costs)

Credit equals 10% of eligible employee wages up to $20,000 per employee, with total credits capped at 60% of eligible expenses; credits may be claimed for up to 10 years until the maximum is reached

Commissioner of Employment and Economic Development must certify corporations within 30 days of application and issue annual credit certificates; corporations must submit annual reports to maintain eligibility

Annual legislative report required beginning March 2028 on number and amount of credits issued; effective for taxable years beginning after December 31, 2025