MN HF2636

Eliminates accelerated payment requirements for vendors with $120,000 or more in annual sales tax liability, effective for taxes due after July 1, 2012.

Returns monthly sales and use tax payments to the standard due date of the 20th day of the month following the month in which the taxable event occurred, removing the previous two-tier payment system with 90 percent due on the 14th and prepayments due on the 20th.

Maintains existing June liability payment requirements for vendors with $120,000 or more annual liability: 90 percent of estimated June liability due two business days before June 30, with remainder due by August 20.

Maintains electronic payment requirements for vendors with $10,000 or more in annual liability, with religious exemption allowing mail payment if postmarked at least two business days before the due date.

Repeals Minnesota Statutes 2011 Supplement, section 289A.60, subdivision 31.