EIDP Loses Bid to Shake Tax Bill at Minnesota Supreme Court

Aug. 27, 2025, 6:21 PM UTC

EIDP Inc. is stuck with an $11.5 million state corporate franchise tax bill after the Minnesota Supreme Court on Wednesday agreed with how the state treated foreign currency transactions.

The science and technology company asked the justices to overturn a 2024 tax court ruling that gross income from the company’s actions to manage the risks of fluctuating exchange rates shouldn’t be included in its total nationwide sales. The tax court upheld the state’s alternative apportionment method of including only EIDP’s net income from the transactions, which it said protect EIDP’s earnings but don’t serve an independent profit-earning purpose.

The justices ...

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