|S.F. No. 3101 - Income Tax Qualified High Technology Business Interests Jurisdiction Limits|
|Author:||Senator Mee Moua|
|Prepared by:||Darlene Sliwa, Senate Research (651/296-1890)|
|Date:||March 19, 2008|
Section 1, subdivision 3, paragraph (c), expands the list of ownership interests that the
Commissioner of Revenue may not use as a factor in determining if an individual or corporation has
an economic nexus with Minnesota and is subject to the state individual or corporate franchise tax
to include interests in qualified high technology businesses.
Section 2, subdivision 6, paragraph (a), defines a "qualified high technology business" for purposes of subdivision 3.
Paragraph (b) defines "qualified high technology field" for purposes of the subdivision. Provides that a business is a qualified business if it satisfies specified conditions.
Paragraph (c) specifies how full-time equivalent employees are calculated in paragraph (a).
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