§
Subdivision 1.Expenses, interest, and taxes.
In computing the net income of a taxpayer no deduction shall in any case be allowed for expenses, interest and taxes connected with or allocable against the production or receipt of all income not included in the measure of the tax imposed by this chapter, except that for corporations engaged in the business of mining or producing iron ore, the mining of which is subject to the occupation tax imposed by section 298.01, subdivision 4, this shall not prevent the deduction of expenses and other items to the extent that the expenses and other items are allowable under this chapter and are not deductible, capitalizable, retainable in basis, or taken into account by allowance or otherwise in computing the occupation tax and do not exceed the amounts taken for federal income tax purposes for that year. Occupation taxes imposed under chapter 298, royalty taxes imposed under chapter 299, or depletion expenses may not be deducted under this subdivision.
Notes of Decisions
Bremer v. Comm'r of Taxation, 75 N.W.2d 470 (Minn. 1956).
· cites it 9× “) The commissioner contends, however, that § 290.10 (9) precludes the taxpayer from taking a deduction for the additional Federal taxes so paid.”
State v. Theo. Hamm Brewing Co., 78 N.W.2d 664 (Minn. 1956).
· cites it 12× “The state argues that § 290.10 (9) will not permit deductions for expenses attributable to income not included in taxable net income.”
Harris v. Comm'r of Revenue, 257 N.W.2d 568 (Minn. 1977).
· cites it 2× “2 This statutory approach is, moreover, consistent with § 290.10(9), which generally disallows a tax deduction for “[ejxpenses * * * connected with or allocable against the production or receipt of * * * income not included in the measure of [Minnesota income tax].”
Comm'r of Revenue v. Hayes, 275 N.W.2d 592 (Minn. 1979).
“1974, § 290.10(9), disallows deductions for “[e]xpenses, interest and taxes connected with or allocable against the production or receipt of all income not included in the measure of the tax imposed by this act.”
— Minn. Stat. § 290.10(9) — 4 cases
Bremer v. Comm'r of Taxation, 75 N.W.2d 470 (Minn. 1956).
“) The commissioner contends, however, that § 290.10 (9) precludes the taxpayer from taking a deduction for the additional Federal taxes so paid.”
State v. Theo. Hamm Brewing Co., 78 N.W.2d 664 (Minn. 1956).
“The state argues that § 290.10 (9) will not permit deductions for expenses attributable to income not included in taxable net income.”
Harris v. Comm'r of Revenue, 257 N.W.2d 568 (Minn. 1977).
“2 This statutory approach is, moreover, consistent with § 290.10(9), which generally disallows a tax deduction for “[ejxpenses * * * connected with or allocable against the production or receipt of * * * income not included in the measure of [Minnesota income tax].”
Comm'r of Revenue v. Hayes, 275 N.W.2d 592 (Minn. 1979).
“1974, § 290.10(9), disallows deductions for “[e]xpenses, interest and taxes connected with or allocable against the production or receipt of all income not included in the measure of the tax imposed by this act.”
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