Minnesota modifies individual income, corporate franchise, sales, and use taxes.

The bill amends Minnesota Statutes to modify individual income, corporate franchise, sales, and use taxes. It adjusts tax credits and subtractions, modifies tax collection and enforcement, and changes property tax classifications. The bill also includes provisions for tax preparer penalties and relief from liability for sellers and service providers under certain conditions. The changes are effective for taxable years beginning after December 31, 2022, and certain provisions expire on specific dates.

Minnesota modifies individual income, corporate franchise, sales, and use taxes.

The bill amends Minnesota Statutes to modify individual income, corporate franchise, sales, and use taxes. It adjusts tax credits and subtractions, modifies tax collection and enforcement, and changes property tax classifications. The bill also includes provisions for tax preparer penalties and relief from liability for sellers and service providers under certain conditions. The changes are effective for taxable years beginning after December 31, 2022, and certain provisions expire on specific dates.