MN SF2941

Increases the tax remittance threshold for vendors required to file accelerated June payments from $120,000 to $250,000 in annual liability during a fiscal year ending June 30.

Applies the higher threshold to sales and use taxes, cigarette and tobacco product excise taxes, and other excise taxes under Minnesota law.

Vendors meeting the $250,000 threshold must remit 90 percent of estimated June liability two business days before June 30 and pay remaining amounts by August 18-20.

Vendors with $10,000 to $250,000 in liability must remit all liabilities electronically by the 20th day of the following month.

Changes are effective for taxes remitted after May 30, 2014.