Tax Initiatives for 2016
Tax competitiveness year in and year out is a top concern for Minnesota businesses. High tax burdens rank as one of the top barriers to economic growth, according to the annual Minnesota Business Barometer Survey, which takes the pulse of the statewide business community.
The following tax initiatives warrant your attention for 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.