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Minnesota Gov.
Mark Dayton has signed an executive order designed to make it easier for small businesses to start and grow in the state, the Minneapolis Star Tribune reports.
The order, which takes effect Oct.
1, gives small businesses a tax break of up to 30% on their first $5 million in revenue and up to 50% on their first $10 million in revenue.
It also requires them to hire at least one full-time employee and up to three part-time employees, and to submit their business plans to the state Department of Employment and Economic Development.
According to the Star Tribune, Dayton says the order is an attempt to cut down on red tape and make it easier for businesses to start and grow in a state that has some of the lowest unemployment in the nation at 3.9%.
The order also requires businesses to hire at least one full-time employee and at least three part-time employees, and to submit their business plans to the Department of Employment and Economic Development.
According to the Star Tribune, Dayton says the order is an attempt to cut down on red tape and make it easier for businesses to start and grow in a state that has some of the lowest unemployment in the nation at 3.9%.
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