MN SF1983

Amends Minnesota Statutes section 360.531, subdivision 2 to clarify aircraft in lieu tax rates by adjusting the base price ranges in the tax schedule.

Changes tax brackets to use "not over" language instead of "to" ranges (e.g., "not over $500,000" instead of "under $499,999").

Adjusts upper limits of all tax brackets to round to nearest $500,000 or $2,500,000 increment for clarity and consistency.

Maintains the same tax amounts for each bracket ($100 for lowest bracket through $75,000 for highest bracket over $40,000,000).

Effective July 1, 2014, applying to aircraft tax due on or after that date.