Maddy summaryThis bill modifies Minnesota's corporate and individual income tax laws to provide temporary exemptions for businesses that received Paycheck Protection Program loans. Under the new rules, corporations and individual taxpayers who took out these loans will not have to pay state income tax starting in the year after their total tax payments match the total amount of their PPP loans. The exemption applies to all other businesses and individuals for tax years beginning after December 31, 2023, regardless of whether they received PPP funding. The legislation also defines how to calculate taxable business income and gives the state revenue commissioner authority to request necessary documentation to enforce these changes.
Rep. Jim Joy
Total votes
1,340
all sessions
Attendance
98%
34 missed
Near the chamber average
With party
95%
of cast votes
Near the chamber average
Bipartisan score
2%
crosses aisle rarely
Near the chamber average
Sponsored
256
bills & resolutions
Near the chamber average
Committees
3
assignments
256 bills and resolutions
Sponsored bills
Total
256
Primary
55
Co-sponsor
201
This page
256
matching current filters
Tax provisions modified, and business exemptions provided.
In committee May 17, 2024
1 co-sponsor
Passed May 3, 2024
1 co-sponsor
In committee May 2, 2024
1 co-sponsor
In committee Apr 30, 2024
1 co-sponsor
In committee Apr 29, 2024
1 co-sponsor
Individual income tax provisions modified, and subtraction of income from retirement plans provided.
In committee Apr 25, 2024
0 co-sponsors
In committee Apr 24, 2024
0 co-sponsors
In committee Apr 24, 2024
1 co-sponsor
In committee Apr 18, 2024
1 co-sponsor
In committee Apr 18, 2024
1 co-sponsor
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