MN SF2624

Increases sales and use tax filing thresholds: raises quarterly filing threshold from $500 to $1,000 per month and annual filing threshold from $100 to $1,200 per year, effective after June 30, 2012.

Establishes vendor allowance of 3.0 percent of eligible taxes collected (maximum $90 per reporting period, minimum $10 or lesser amount) to compensate retailers for costs of collecting and administering sales tax, effective after June 30, 2012.

Requires revenue department to develop a free, electronically accessible address and five-digit zip code lookup table for local sales tax collection compliant with the Streamlined Sales and Use Tax Agreement, accessible to sellers by January 1, 2014.

Modifies payment acceleration requirements for high-volume vendors by defining "net liability" as tax liability minus vendor allowance and clarifying prepayment calculations, effective after June 30, 2012.

Distributes initial database construction costs among cities with local sales tax based on population, with ongoing maintenance costs distributed based on each city's boundary changes.