Minnesota HF1533 amends corporate franchise tax laws to treat certain foreign corporations as unitary businesses for tax purposes.
Minnesota HF1533 modifies the state's corporate franchise tax regulations by treating certain foreign corporations as unitary businesses. This means that the income and apportionment factors of these corporations will be included in determining the net income and apportionment factors for tax purposes. The bill also defines "tax haven" and outlines the conditions under which a foreign jurisdiction may be designated as such.
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