Minnesota SF3364 allows a subtraction from income for certain commercial loans issued by financial institutions.
Minnesota SF3364 amends state tax law to allow a subtraction from income for certain commercial loans issued by financial institutions. This applies to loans valued at $5,000,000 or less, provided they are used primarily for business or agricultural purposes by a person residing or located in the state. The change is effective for taxable years beginning after December 31, 2024.
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