Minnesota SF783 establishes a private letter ruling program for taxpayers.

Minnesota SF783 establishes a private letter ruling program to provide guidance to taxpayers on how the commissioner will apply Minnesota tax law to specific transactions. The commissioner must issue a ruling within 90 days or refund the application fee. The commissioner may charge a fee based on the complexity of the request. Rulings are binding if no material facts were misstated, facts did not change materially, applicable law did not change, and the taxpayer acted in good faith.

Minnesota SF783 establishes a private letter ruling program for taxpayers.

Minnesota SF783 establishes a private letter ruling program to provide guidance to taxpayers on how the commissioner will apply Minnesota tax law to specific transactions. The commissioner must issue a ruling within 90 days or refund the application fee. The commissioner may charge a fee based on the complexity of the request. Rulings are binding if no material facts were misstated, facts did not change materially, applicable law did not change, and the taxpayer acted in good faith.