SF 20 is a comprehensive tax bill modifying multiple tax systems in Minnesota. It removes the sales tax exemption for electricity used by data centers (affecting tech companies), increases taxes on cannabis products, and eliminates local cannabis aid. The bill also makes the research and development tax credit partially refundable for businesses and repeals the controlled substance tax. Additionally, it adjusts property tax exemptions, modifies sales tax payment rules for vendors, and updates political contribution refund processes.
HF 9 is a comprehensive tax reform bill that modifies multiple tax provisions across Minnesota. It directly affects individuals (through changes to income tax brackets and credits), businesses (including data centers losing electricity tax exemptions), and local governments (by eliminating cannabis aid funding). Key provisions include making the research and development tax credit partially refundable, increasing taxes on cannabis products, and removing the sales tax exemption for electricity at data centers. The bill also adjusts property tax exemptions, modifies corporate franchise taxes, and makes technical changes to various tax statutes.
