A bill for an act
relating to taxation; corporate franchise; requiring the Department of Revenue to
make available certain corporate franchise tax information; proposing coding for
new law in Minnesota Statutes, chapter 270B.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) Except as otherwise provided in this section, within one month from the first day of
the third calendar year following the calendar year in which a taxpayer's taxable year ends,
the commissioner must make the following information available on a website:
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(1) a corporation's corporate franchise tax return required under section 289A.18,
subdivision 1;
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(2) all corporate franchise tax forms relating to the calculation of income, apportionment,
and calculation of tax; and
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(3) the corporation's identity for state corporate franchise tax purposes.
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(b) This section does not authorize the commissioner to disclose a corporation's federal
return or federal return information.
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(c) This section applies to a corporation required to file a return under section 289A.08,
subdivision 3, that has $250,000,000 or more in aggregate gross sales or receipts in a taxable
year, including a unitary business under section 290.17, subdivision 4.
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(d) Compliance with this section by the commissioner is not a violation of this chapter.
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This section is effective for information required to be made
available in calendar years beginning after December 31, 2024.
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