MN SF3409

Moves University of Minnesota monthly payment date from the 21st to the 25th of each month to improve state cash flow.

Modifies state property tax settlement dates for county treasurers to align with school district tax distribution schedules, effective October 1, 2010.

Requires vendors with $120,000 or more in annual sales tax liability to remit 90 percent of estimated tax by the 14th of the following month, with final payment by the 20th, effective September 1, 2010.

Creates a 10 percent penalty for vendors who fail to remit the required 90 percent estimated payment by the 14th, unless the payment equals 90 percent of prior month liability, same month prior year, or average monthly liability for previous year.

Allows acceleration of sales tax payment requirements to be suspended when state cash flow and budget reserve accounts reach specified thresholds, reverting to standard 20th of month payment dates.