Minnesota HF4769 amends tax apportionment rules to include foreign sales factors for certain taxpayers.

Minnesota HF4769 amends the state's tax code to require the inclusion of foreign sales factors in the apportionment percentage for certain taxpayers. Specifically, the bill modifies the apportionment formula to include "foreign pro rata sales" for qualified controlled foreign corporations. This change applies to taxable years beginning after December 31, 2025. The bill also defines terms such as "qualified controlled foreign corporation" and "qualified manufacturer" to clarify which entities are affected by these changes.

Minnesota HF4769 amends tax apportionment rules to include foreign sales factors for certain taxpayers.

Minnesota HF4769 amends the state's tax code to require the inclusion of foreign sales factors in the apportionment percentage for certain taxpayers. Specifically, the bill modifies the apportionment formula to include "foreign pro rata sales" for qualified controlled foreign corporations. This change applies to taxable years beginning after December 31, 2025. The bill also defines terms such as "qualified controlled foreign corporation" and "qualified manufacturer" to clarify which entities are affected by these changes.