Revenue Notice #05-10: Corporate Franchise Tax - Revocation of Revenue Notice 94-17

Revenue Notice # 1994-17 sets forth the Department of Revenue’s interpretation of Minnesota Statutes, section 290.01, subdivision 6(b), the definition of a foreign operating corporation. This definition was amended in the 2005 Special Session requiring a foreign operating corporation to have $1,000,000 of payroll and $2,000,000 of property outside of the United States (2005 Minnesota Laws, 1st Special Session, Chapter 3, Article 3, Section 5). Because of this amendment to the statute, Revenue Notice # 1994-17 is revoked.

John H. Mansun, Assistant Commissioner

for Tax Policy and External Relations

Publication Date: October 17, 2005