Minnesota HF3127 modifies the expiration date of the pass-through entity tax.

Minnesota HF3127 amends the expiration date of the pass-through entity tax, which applies to partnerships, limited liability companies, and S corporations. The bill modifies the expiration terms in Minnesota Statutes 2024, sections 289A.08, subdivision 7a, and 290.06, subdivision 23a. The changes include adjustments to the tax credit for pass-through entity tax paid to another state and the treatment of qualifying owners' tax liabilities.

Minnesota HF3127 modifies the expiration date of the pass-through entity tax.

Minnesota HF3127 amends the expiration date of the pass-through entity tax, which applies to partnerships, limited liability companies, and S corporations. The bill modifies the expiration terms in Minnesota Statutes 2024, sections 289A.08, subdivision 7a, and 290.06, subdivision 23a. The changes include adjustments to the tax credit for pass-through entity tax paid to another state and the treatment of qualifying owners' tax liabilities.