MN HF253

Repeals the June accelerated tax payment requirement that previously applied to vendors with annual sales and use tax liabilities of $120,000 or more.

Eliminates the requirement for vendors to remit 90 percent of estimated June liability two business days before June 30 and complete payment by August 20.

Simplifies sales and use tax return filing by removing the separate August 20 due date for June reporting period returns and establishing uniform monthly filing deadlines of the 20th day following the reporting month.

Removes accelerated payment provisions for cigarette and tobacco product distributors that previously required May returns two business days before June 30 and June returns by August 18.

All changes are effective beginning with June 2011 tax liabilities.