Minnesota HF2221 allows a tax credit for local advertising expenses in local media.

Minnesota HF2221 amends state tax law to allow a credit for local advertising expenses in local media. Qualifying taxpayers can claim a credit equal to a percentage of their local media advertising expenses. The credit is limited to $5,000 for taxable years beginning after December 31, 2024, and before January 1, 2026, and $2,500 for taxable years beginning after December 31, 2025. The credit can be carried over to future years if unused. The credit expires for taxable years beginning after December 31, 2028.

Minnesota HF2221 allows a tax credit for local advertising expenses in local media.

Minnesota HF2221 amends state tax law to allow a credit for local advertising expenses in local media. Qualifying taxpayers can claim a credit equal to a percentage of their local media advertising expenses. The credit is limited to $5,000 for taxable years beginning after December 31, 2024, and before January 1, 2026, and $2,500 for taxable years beginning after December 31, 2025. The credit can be carried over to future years if unused. The credit expires for taxable years beginning after December 31, 2028.