HF162

This legislative bill from the State of Minnesota requires the Department of Revenue to publicly disclose certain corporate franchise tax information on a website. The disclosure includes a corporation's corporate franchise tax return, all related tax forms used for income apportionment and tax calculation, and the corporation's identity for state tax purposes. However, it does not allow the disclosure of federal tax returns or information. This requirement applies only to corporations that have $250,000,000 or more in gross sales or receipts for the tax year. The information must be made available within one month from the first day of the third calendar year after the tax year ends. The bill ensures that complying with this requirement does not violate other laws related to privacy or confidentiality.