Tim Pawlenty on Corporations

Republican MN Governor

20% corporate tax cut; 20% business exclusion

In 2010, in his final State of the State address, Pawlenty outlined his plans for growing "good, private-sector jobs" in the state:

20% cut in the corporate tax rate
20% exclusion from taxes for small businesses
Capital gains tax exclusion for qualified investments
Tax credits for investors in startup companies
R&D tax credits
Incentives for investment in Minnesota small businesses.

Pawlenty defended the tax cuts as "a spit in the ocean compared to what should be done." Source: Sam's Club Republican, by J.A. McClure, p. 50 , May 10, 2010

Reduce business tax from 3rd highest corporate tax rate

Minnesota's business tax climate is the 8th worst in the nation. That means 42 other states have a competitive edge on Minnesota.

We have the 3rd highest corporate tax rate in the developed world. Our personal income and sales tax rates are among the highest in the country, and Minnesota offers no preferential rate for capital gains. We need to face the facts: Minnesota's tax system is costing us jobs, and our tax code needs to change to meet the challenges and opportunities of our time.

Source: Minnesota 2010 State of the State Address , Feb 11, 2010

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Page last updated: Apr 27, 2013