Minnesota § 469.318 - JOBS CREDIT
Full text of Minnesota Minnesota Statutes § 469.318 — JOBS CREDIT, with citation guidance and answers to common questions.
§ 469.318. JOBS CREDIT
Subdivision 1.Credit allowed.
A qualified business is allowed a credit against the taxes imposed under chapter 290. The credit equals seven percent of the:
(1) lesser of:
(i) zone payroll for the taxable year, less the zone payroll for the base year; or
(ii) total Minnesota payroll for the taxable year, less total Minnesota payroll for the base year; minus
(2) $30,000 multiplied by (the number of full-time equivalent employees that the qualified business employs in the job opportunity building zone for the taxable year, minus the number of full-time equivalent employees the business employed in the zone in the base year, but not less than zero).
Subd. 2.Definitions.
(a) For purposes of this section, the following terms have the meanings given.
(b) "Base year" means the taxable year beginning during the calendar year prior to the calendar year in which the zone designation took effect.
(c) "Full-time equivalent employees" means the equivalent of annualized expected hours of work equal to 2,080 hours.
(d) "Minnesota payroll" means the wages or salaries attributed to Minnesota under section 290.191, subdivision 12, for the qualified business or the unitary business of which the qualified business is a part, whichever is greater.
(e) "Zone payroll" means wages or salaries used to determine the zone payroll factor for the qualified business, less the amount of compensation attributable to any employee that exceeds $100,000.
Subd. 3.Inflation adjustment.
For taxable years beginning after December 31, 2004, the dollar amounts in subdivision 1, clause (2), and subdivision 2, paragraph (e), are annually adjusted for inflation. The commissioner of revenue shall adjust the amounts by the percentage determined under section 290.06, subdivision 2d, for the taxable year.
Subd. 4.Refundable.
If the amount of the credit exceeds the liability for tax under chapter 290, the commissioner of revenue shall refund the excess to the qualified business.
Subd. 5.Appropriation.
An amount sufficient to pay the refunds authorized by this section is appropriated to the commissioner of revenue from the general fund.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 469.318
What does Minnesota Statutes § 469.318 cover?
Section 469.318 ("JOBS CREDIT") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 469.318?
A common citation format is "Minnesota Statutes § 469.318" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 469.318 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.