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Restoring the Shine to the Minnesota State R&D Tax Credit

Scott Schmidt testifies in front of MN Senate and House Finance Committee on the State's R&D Tax Credit

In the past 5 weeks, I have twice testified to the Minnesota House and Senate Finance Tax Committees on improving the Minnesota State R&D Tax Credit and restoring its status as one of the best state R&D Tax Credits in the country.

Starting January 1st of 2010, Minnesota made the state R&D Tax Credit refundable . The intent of making the credit refundable was to allow for immediate monetization of the credits when not able to otherwise be used, and thus freeing up money that’s able to be reinvested to grow the…

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