The Governor's 21st Century Tax Reform Commission has released its final report and recommendations, "Minnesota's Millennium: Launching a New Generation of Competitive Leadership and Economic Growth."
Gov. Tim Pawlenty established the reform panel to consider how Minnesota could modernize its business taxes to encourage economic growth in a fast-changing, highly competitive and increasingly global economy. In its public meetings, the Commission heard from a range of tax policy experts, business groups and other stakeholders. Their suggestions, presentations and opinions were viewed against a backdrop of traditional tax principles, academic research and real-world experience.
In, “Minnesota’s Millennium,” the Commission recommends that Minnesota:
- Reduce business tax burdens.
- Improve the transparency of business taxation.
- Promote investments in innovation, entrepreneurship, and emerging/high-tech companies
- Pay for reform, and prepare for the future, by aligning the state tax system with personal consumption.