The conventional conservative wisdom professes that Minnesota drives businesses away with its high taxes, a belief that the Pawlenty administration has cited to keep tax increases off the table as a means of dealing with the state's budget deficit. But the reality, according to a report by Citizens for Tax Justice and the Institute on Taxation and Economic Policy, is that some of the biggest corporations in Minnesota get away with paying little or no state income tax. In 2002, the report claims, 3M recorded a profit of more than $1.6 billion but paid no state income tax. General Mills' profits in 2001 passed $750 million, yet the corporation paid no state corporate income tax for the year. The report cites a total of 11 Minnesota-based Fortune 500 companies that paid little to no state... More >>>