TAX CREDITS

Research and Development Tax Credit:  A refundable tax credit equal to 10% of the first $2 million in eligible expenditures and 2.5% of eligible expenses above $2 million is available for qualified businesses engaged in R&D activities.  

LOANS AND GRANTS

Minnesota Job Creation Fund:  Businesses that create at least 10 jobs and make a capital investment of at least $500,000 may receive discretionary cash grants.  To qualify, a company must meet certain job creation, prevailing wage, and capital investment targets.  Eligible businesses may receive up to $3,000 per job, per year and up to 7.5% in rebates for real property improvements. 

SPECIAL ZONING

Border Cities Enterprise Zone Program:  This program provides tax credits to qualifying businesses that locate or expand in the cities of Breckenridge, Dilworth, East Grand Forks, Moorhead, or Ortonville.

TAX EXEMPTIONS

Greater Minnesota Job Expansion Program:  Provides sales tax exemptions of up to 12 years to existing businesses that meet certain job creation and prevailing wage requirements.

Data Centers: Businesses that invest at least $30 million in a data or network operation center with at least 25,000 square feet qualify for a 20-year sales tax exemption on related equipment purchases. In addition, a 20-year sales tax exemption is available for businesses that invest at least $50 million to refurbish an existing data with at least 25,000 square feet.

Sales and Use Tax Exemptions: In addition to the sales tax exemption for manufacturers’ capital equipment, sales of property delivered outside the state are exempt from sales tax under certain conditions. Materials used or consumed in agricultural, industrial, or services production for retail sale and petroleum products subject to other excise taxes are also exempt from sales and use taxes.

TRAINING PROGRAMS

Minnesota Job Skills Partnership:  Discretionary grants of up to $400,000 are available to educational institutions that partner with businesses to develop job training programs for new hires and existing workers.

Last updated: April 2017


 
BIGGINS LACY SHAPIRO & COMPANY
 
PRINCETON
47 Hulfish Street, Suite 320
Princeton, NJ 08542
(609) 924-9775
NEW YORK
215 Park Ave South
New York, NY 10003
(646) 652-7555
CHICAGO
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Chicago, IL 60606
(312) 924-2490
CALIFORNIA
1255 Treat Boulevard, Suite 300
Walnut Creek, CA 94597
(925) 239-1711