Minnesota HF2133 makes a technical correction to the pass-through entity tax.

Minnesota HF2133 amends the pass-through entity tax to clarify the credit for taxes paid to another state. The credit is allowed against the tax imposed on qualifying entity income of partnerships, limited liability corporations, or S corporations. The credit can only be claimed by a qualifying owner and must be claimed as prescribed by the commissioner. The bill also specifies that the expiration of this section does not affect the commissioner's authority to audit or power of examination and assessments for credits claimed under this section.

Minnesota HF2133 makes a technical correction to the pass-through entity tax.

Minnesota HF2133 amends the pass-through entity tax to clarify the credit for taxes paid to another state. The credit is allowed against the tax imposed on qualifying entity income of partnerships, limited liability corporations, or S corporations. The credit can only be claimed by a qualifying owner and must be claimed as prescribed by the commissioner. The bill also specifies that the expiration of this section does not affect the commissioner's authority to audit or power of examination and assessments for credits claimed under this section.