February 9, 2017
We estimate that the research tax credit has increased statewide jobs and employee earnings, but the increases are relatively small, and the credit has not paid for itself. We recommend that the Legislature explicitly state in law the research tax credit’s purposes and require analyses of whether proposed changes would help meet those purposes. In addition, we recommend that the Department of Revenue improve its research tax-credit information for taxpayers.
*Supplemental Items (These do not appear in the printed report.)
Office of the Legislative Auditor ♦ Room 140, 658 Cedar St., St. Paul, MN 55155