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Committee hears bill to simplify R&D tax credit (HF173); supporters cite competitiveness, bill laid over for possible inclusion
Summary
Representative Robbins presented House File 173 offering an optional simplified calculation for Minnesota's R&D tax credit; business groups testified in favor and the committee laid the bill over for possible inclusion in later tax legislation.
Representative Robbins on Feb. 25 presented House File 173, which would give businesses an optional simplified method to calculate Minnesota's research-and-development (R&D) tax credit consistent with a federal alternative calculation. Proponents from statewide business groups told the House Tax Committee the option would make the credit more usable and competitive with other states; the committee laid the bill over for possible inclusion in later tax legislation.
Robbins said Minnesota's current R&D credit calculation relies on a 1984–1988 base period that…
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