Plan expands sales tax to cut corporate tax

[The Straight Story]

Plan expands sales tax to cut corporate tax

ST. PAUL – Minnesota should eliminate its corporate income tax and make other changes to spur business growth, a governor-appointed panel recommended.

The just-completed recommendations could struggle to become law, however, as they are paid for with a controversial sales tax expansion and a cigarette tax hike.

The proposals are designed to position Minnesota to compete internationally for businesses and jobs in the long term, said Michael Vekich, 21st Century Tax Reform Commission chairman.

“They will be controversial and it will take leadership to enact,” Vekich said Friday.

Minnesota’s corporate tax policy is hindering growth, Vekich said. The commission recommends increased tax incentives for corporate research and development and tax credits for new-business investment.

http://www.stillwatercourier.com/articles/index.cfm?id=19505§ion=mnnews,Minnesota%20News&property_id=8

[Captain Hilts]

1. Sales taxes are nice and regressive. nt

[DJ13]

2. Sure, put ALL the taxation onto the backs of the lower classes

What an idiotic proposal.