Limitations on assessments of individual income, corporate franchise, and sales and use taxes provided.

This bill establishes rules to limit how Minnesota tax officials can charge additional income, corporate franchise, and sales taxes when taxpayers rely on incorrect official advice. It protects individuals and businesses from penalties if they followed written guidance from a tax employee that was reasonable and based on accurate information they provided. The protection applies only if the tax law or rules have not changed since that advice was given and the tax agency has not officially corrected its position in writing. This measure takes effect for any erroneous advice provided after June 30, 2024.