Traction with the Tiger

Minnesota’s New Tax Bill: What Businesses Need to Know Now

13 min · 28 de may de 2026
Portada del episodio Minnesota’s New Tax Bill: What Businesses Need to Know Now

Descripción

In this solo episode of Traction with the Tiger, Chris Wittich breaks down Minnesota’s newly signed 2026 tax bill and what it means for business owners, pass-through entities, and taxpayers across the state. Chris walks through the most important changes in the legislation, including the extension of the Minnesota Pass-Through Entity (PTE) tax through 2027, new conformity updates tied to recent federal tax law changes, and several surprising areas where Minnesota chose not to conform. He also explains what taxpayers should do next if they’ve already filed their 2025 returns and how estimated tax payments may need to change before the June 15 deadline. Topics covered include: * Minnesota’s extension of the PTE tax for 2026 and 2027 * Estimated payment catch-up rules and interest relief * Section 174 R&D expense conformity changes * New Minnesota limitations on charitable contribution deductions * 529 plan nonconformity issues * Whether taxpayers should amend returns or wait for state adjustments If you file Minnesota returns, own a business, or advise clients on tax planning, this episode provides a practical breakdown of what changed, what didn’t, and what actions should be considered now.

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41 episodios

episode Minnesota’s New Tax Bill: What Businesses Need to Know Now artwork

Minnesota’s New Tax Bill: What Businesses Need to Know Now

In this solo episode of Traction with the Tiger, Chris Wittich breaks down Minnesota’s newly signed 2026 tax bill and what it means for business owners, pass-through entities, and taxpayers across the state. Chris walks through the most important changes in the legislation, including the extension of the Minnesota Pass-Through Entity (PTE) tax through 2027, new conformity updates tied to recent federal tax law changes, and several surprising areas where Minnesota chose not to conform. He also explains what taxpayers should do next if they’ve already filed their 2025 returns and how estimated tax payments may need to change before the June 15 deadline. Topics covered include: * Minnesota’s extension of the PTE tax for 2026 and 2027 * Estimated payment catch-up rules and interest relief * Section 174 R&D expense conformity changes * New Minnesota limitations on charitable contribution deductions * 529 plan nonconformity issues * Whether taxpayers should amend returns or wait for state adjustments If you file Minnesota returns, own a business, or advise clients on tax planning, this episode provides a practical breakdown of what changed, what didn’t, and what actions should be considered now.

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