Contingent increase in the corporate franchise tax rate authorization

This bill modifies Minnesota's corporate franchise tax calculation to create a contingent rate increase tied to federal tax changes. It sets the base tax rate at 9.8% but adds a potential increase equal to the percentage decrease in the federal corporate tax rate (as of March 23, 2025), rounded to the nearest 0.05%. The adjustment would apply to corporations paying franchise tax in Minnesota for taxable years starting after December 31, 2024. The change only triggers if the federal corporate tax rate decreases, ensuring Minnesota's tax revenue remains aligned with federal policy shifts.