SF 4960·MN·senate
Trade or business income apportionment provision and foreign sales factors in the apportionment percentage of certain taxpayers requirement provision
FailedFiled Apr 7, 2026
Sponsor: Weber
Latest Action
Introduction and first reading; Referred to
Apr 7, 2026
Summary
The bill rewrites the state’s income‑apportionment formula so that manufacturers that own foreign subsidiaries and report global intangible low‑taxed income (GILTI) must include a calculated foreign‑sales factor in their Minnesota tax share. It also clarifies that GILTI is treated as dividend income for most taxpayers, but not for those qualifying manufacturers. The changes would apply to tax years beginning after Dec. 31, 2025.
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