The bill amends Minnesota Statutes 2024, section 290.01, subdivision 31, to clarify the definition of the "Internal Revenue Code" as it pertains to state taxation. It specifies that the term includes the Internal Revenue Code of 1986, as amended through May 1, 2023, along with any uncodified provisions in federal law that relate to the Internal Revenue Code incorporated into Minnesota law. Additionally, the bill explicitly states that for the purposes of this chapter, the Internal Revenue Code does not include section 530 of Public Law 95-600, as amended.

Furthermore, the bill includes an effective date provision, stating that the changes will apply to taxable years beginning after December 31, 2025. This amendment aims to provide clarity on employee classification and taxation in Minnesota by delineating which federal provisions are applicable under state law.

Statutes affected:
Introduction: 290.01