KEEP MINNESOTA COMPETITIVE IN GLOBAL ECONOMY
Minnesota is a great place to live and work. We receive high marks nationally for our quality of life that can be attributed to our abundant natural resources; diverse industries; hardworking and educated workforce; and innovative and entrepreneurial business leaders. Our celebrated quality of life would not exist without a strong private-sector business community and our jobs. Economic growth will ultimately come from a strong business climate that fosters risk-taking, innovation and production.
The two core features of a strong business climate are infrastructure and cost. While our infrastructure ranks fairly high nationally, costs are a serious concern. Everyone, especially policy-makers, should be concerned about the high cost of doing business with our tax burdens among the highest in the nation. Our goal is to create a business climate that encourages employers and employees to stay here and grow here.
Four items lead our priorities at the 2016 Legislature:
- Enact meaningful business property tax relief.
- Enhance the research-and-development tax credit.
- Conform the state estate tax with the federal threshold.
- Reimburse retailers for collecting and remitting the sales and use tax on behalf of the state.
- Reduce tax burden for owners who report business income on their personal income tax return.
Personal income taxes are another burden for those owners who, because of their corporate structure, report business income on their personal income tax return. We will educate the public and policy-makers and launch a concerted effort to pass legislation in 2017.
The Minnesota Chamber of Commerce leads the United for Jobs Coalition.
For more information, contact:
Vice President, Grassroots & Chamber Relations