Corporate franchise and unitary taxation; unitary group expanded to foreign corporations.

HF 1480 expands Minnesota's corporate tax rules to include foreign corporations operating as part of a unitary group (a single economic entity) with Minnesota-based operations. It amends tax definitions to explicitly apply Minnesota's unitary taxation rules to foreign corporations, requiring them to calculate state tax based on the group's combined income. The bill also adds a new tax subtraction for global intangible low-taxed income (GILTI) under federal tax law. This change directly affects multinational corporations with significant Minnesota operations that previously might not have been subject to Minnesota's unitary tax system. The changes take effect for taxable years beginning after December 31, 2025.