Advocates push to close corporate tax loopholes in Minnesota
Advocates are pressing Minnesota legislators to close tax loopholes and prevent companies from shifting income to offshore subsidiaries to avoid paying taxes.
TakeAction Minnesota says that companies are avoiding paying millions in taxes, which either results in service reductions around the state or higher taxes for all Minnesotans.
“Minnesota families cannot continue to pay for corporate tax avoidance,” said Greta Bergstrom, spokeswoman for Take Action Minnesota, an advocacy group.
Legislators are exploring a proposal to close some tax loopholes, which would bring in an additional $36.5 million over the next two years. If legislators closed all tax loopholes, the state could potentially take in an additional $350 million.
