Minnesota HF3814 conforms state tax law to federal changes regarding section 179 expensing.
Minnesota HF3814 amends state tax law to align with federal changes to section 179 expensing, ensuring that the state's treatment of this tax provision mirrors federal law. This change is retroactive to the same time the federal 1.15 changes were effective. The bill modifies Minnesota Statutes 2024, section 290.01, subdivision 31, to include the Internal Revenue Code as amended through May 1, 2023, and section 70306 of Public Law 119-21.
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