MN HF3741

Modifies University of Minnesota payment schedule from the 21st to the 25th day of each month, with adjustments if the 25th falls on a weekend.

Changes state property tax settlement dates for school districts and requires county treasurers to transmit receipts to the commissioner of revenue electronically according to school district distribution provisions.

Establishes accelerated sales and use tax payment requirements for vendors with $120,000 or more annual liability, requiring 90 percent payment by the 14th of the following month with final payment by the 20th.

Creates a 10 percent penalty for underpayment of accelerated monthly sales tax liability, effective for payments after September 1, 2010, unless the amount remitted by the 14th equals at least 90 percent of the liability or average monthly liability.

Provides religious exemption allowing vendors to remit sales tax payments by mail instead of electronically, with notification to the commissioner of revenue required.