Legislative auditor: Minnesota R&D tax credit lacks explicit purpose, doesn't pay for itself

An audit of one of Minnesota’s biggest business tax breaks found serious problems with the incentive, saying it lacks a specified purpose in law and does not pay for itself in the long run.

The audit also found that the state isn’t collecting enough data on the decades-old research and development tax break to properly evaluate the incentive’s effectiveness.

http://www.startribune.com/auditor-mn-s-r-amp-d-tax-credit-lacks-explicit-purpose-doesn-t-pay-for-itself/413358913/