Several business tax credit programs are available to Minnesota businesses:
Angel Tax Credit - Offers a refundable 25% credit to investors or investment funds that put money into startup companies focused on high technology or new proprietary technology.
Data Centers Tax Credit - Companies that build data or networks operation
centers of at least 25,000 square feet and invest $30 million qualify for sales tax exemptions for 20 years, and they also pay no personal property tax.
Research and Development Tax Credit - The tax credit for R&D expenditures is 10 percent, up to the first $2 million in eligible expenses. The credit is 2.5 percent for eligible expenses above $2 million.
Greater Minnesota Business Expansion Tax Credits - Provides sales tax rebates to existing businesses located in Greater Minnesota, including Pine County, that meet eligibility requirements of job creation and wage levels.