Income and corporate franchise tax provisions modified, and addition for pharmaceutical marketing expenses required.

This bill modifies Minnesota's individual income and corporate franchise tax laws to require companies to add back certain pharmaceutical marketing expenses. Specifically, it targets direct-to-consumer advertising for prescription drugs and biologics, which are currently deductible under federal tax rules. The legislation defines these marketing activities as promotional efforts aimed at consumers through various media channels and applies to manufacturers who produce these medications. Starting with taxable years beginning after December 31, 2026, companies will no longer be able to deduct the costs of these specific marketing campaigns when calculating their state tax liability.