New legislators mean one thing
Forty new legislators will be sworn into office when the 2019 legislative session begins Tuesday. That's nearly 20 percent of the Legislature.
Imagine if 20 percent of your staff turned over and all your new employees started on the same day. Imagine the time required to introduce them to staff and clients, as well as to train them on industry standards and internal processes. It could take months (or years) to get your organization back to full productivity.
The Legislature's operations are similar to running a business -- except their timeline for getting things done is extremely accelerated. The first month of session will be spent in committee hearings learning about the various executive departments (the Department of Revenue, Department of Transportation and the Department of Health & Human Services, just to name a few) and their jurisdictions in state government. New legislators also have a crash course on who's who, where to go for questions and information, and the standard "how a bill becomes a law" overview. And don't forget, the Minnesota Constitution requires the Legislature to adjourn no later than the first Monday after the third Saturday in May. There's little time to waste!
New legislators rely on experts to help them better understand the issues they will face during session. One of those issues is tax conformity. For CPAs, federal tax conformity (or lack thereof) is a huge issue causing uncertainty, frustration and concern for you, your business and your clients. But, for new legislators, this issue may not be top of mind. At a recent Minnesota Chamber of Commerce luncheon, nearly 20 legislators and legislators-elect spoke about the issues they're looking forward to working on this coming year. Not a single new legislator brought up nonconformity.
Legislators, particularly new ones, need to understand how Minnesota's current tax structure affects their constituents. What better way to learn about this complex issue than a firsthand account? This is where you help. No one is better situated to provide advice than CPAs -- the trusted advisers for hundreds of thousands of Minnesota taxpayers.
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