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Senate Counsel, Research
and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 1449 - Corporate franchise tax and AMT rate reduction
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Author:
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Senator Eric R. Pratt
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Prepared By:
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Nora Pollock, Senate Counsel (651/297-8066)
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Date:
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March 1, 2019
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This bill reduces the corporate franchise tax rate by one percentage point from 9.8 percent to 8.8 percent. The bill also reduces the rate in the corporate alternative minimum tax (AMT) calculation from 5.8 percent to 5.2 percent. Corporations must calculate their tax under both the regular corporate franchise tax schedule and the AMT, which uses a broader tax base, and pay the higher of the two. Effective beginning in tax year 2019.
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Check on the status of this bill
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Back to Senate Counsel and Research Bill Summaries page
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This page is maintained by the Office of Senate Counsel, Research, and Fiscal Analysis for the Minnesota Senate.
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Last review or update: 03/01/2019
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