The Minnesota legislature has enacted an extremely inviting and beneficial program for qualified Minnesota businesses. In 2016, the state is making available $15 million in credits to businesses for assistance in their operations. Of that, $7.5 million is earmarked for female or minority owned business.
The paperwork to be submitted is not particularly onerous. But, the paperwork your company needs to have in place to qualify for this financial benefit is not quite as easy. Properly documenting your ownership, transfers of ownership, and titles within your company can both help you qualify for this tax credit and prevent you from being investigated for defrauding the State. More information on this program is available here.
If you have any questions about the paperwork requirements for you and your business, please contact Dan for help navigating your way.
The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice from an attorney. Each situation is unique, and you should not act or rely on any information contained herein without seeking the advice of an experienced attorney.