Trade or business income apportionment provision and foreign sales factors in the apportionment percentage of certain taxpayers requirement provision

Summary

The bill revises the formula Minnesota uses to apportion a business’s taxable income to the state, shifting the weighting to 100% sales for years after 2014. It also creates a new provision that lets qualified manufacturers include a foreign‑sales component derived from global intangible low‑taxed income (GILTI) when calculating their sales factor. The changes affect businesses that file apportionable income returns, especially those with controlled foreign corporations.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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