Minnesota HF2729 appropriates $10,000,000 for an expanded corporate tax compliance initiative.

Minnesota HF2729 allocates $10,000,000 from the general fund for the fiscal year 2026 to the commissioner of revenue. This funding aims to develop and implement an expanded corporate tax compliance initiative. The initiative focuses on enhancing tax compliance and enforcement activities under the corporate franchise tax. It targets corporations with $25,000,000 or more in Minnesota sales or gross receipts for a taxable year. The initiative seeks to identify and collect tax liabilities from corporations that do not accurately report taxable income, calculate credits, or pay all taxes owed.

Minnesota HF2729 appropriates $10,000,000 for an expanded corporate tax compliance initiative.

Minnesota HF2729 allocates $10,000,000 from the general fund for the fiscal year 2026 to the commissioner of revenue. This funding aims to develop and implement an expanded corporate tax compliance initiative. The initiative focuses on enhancing tax compliance and enforcement activities under the corporate franchise tax. It targets corporations with $25,000,000 or more in Minnesota sales or gross receipts for a taxable year. The initiative seeks to identify and collect tax liabilities from corporations that do not accurately report taxable income, calculate credits, or pay all taxes owed.