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HF 1697

Individual income and corporate franchise tax; transfer and certification provisions modified.

2025-2026 Regular Session Introduced by Greg Davids and 1 co-sponsor

HF 1697 would modify transfer and certification provisions within Minnesota's individual income tax and corporate franchise tax statutes.

Introduction and first reading, referred to Taxes
#taxation #taxation-income
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Bill Summary · HF 1697

HF 1697 — Individual income and corporate franchise tax; transfer and certification provisions modified

Overview

HF 1697 is a Minnesota House bill introduced on February 27, 2025, and referred to the Taxes committee for its first reading. The companion Senate bill is SF 1046. The bill's title indicates that it would modify transfer and certification provisions within the state’s individual income tax and corporate franchise tax statutes.

Purpose and scope (based on title)

  • The bill appears to modify provisions related to “transfer” and “certification” within Minnesota’s individual income tax and corporate franchise tax framework.
  • The exact nature of the modifications (whether they expand, limit, streamline, or otherwise alter transfer or certification processes) is not specified in the provided information. The specific language would be found in the bill text.

Likely areas affected

  • Taxpayers: individuals subject to Minnesota’s personal income tax and corporations subject to the corporate franchise tax.
  • Tax practitioners and preparers: professionals assisting taxpayers in navigating transfers and certification requirements.
  • State agencies: particularly the Minnesota Department of Revenue, which administers and enforces tax transfer and certification provisions.
  • Administrative processes: potential changes to how tax credits, refunds, intercompany transfers, or certification eligibility are transferred, verified, or documented. Note that these are typical contexts for “transfer” and “certification” provisions, but the exact provisions in HF 1697 remain to be specified in the bill’s text.

Procedural and timeline aspects

  • Introduction and first reading: February 27, 2025.
  • Committee assignment: Taxes (as of the information provided).
  • Status indicates the bill is in early stage; no amendments, hearings, or final action are listed.
  • Companion: SF 1046 (Senate).

Next steps for readers

  • Review the actual bill text: To understand the specific changes, provisions, and effective dates, consult the HF 1697 bill language and any fiscal notes or analysis released by theHouse Taxes Committee.
  • Monitor committee actions: Look for hearings, amendments, or votes in the Taxes committee, and any floor actions.
  • Compare with companion: Check SF 1046 for parallel language or differing provisions in the Senate.

Note: This summary is based on the bill’s title and its stated status. The precise substantive changes will be in the enacted text of HF 1697.

Compiled from official sources — confirm details with the bill’s official record.

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