MN SF2947

Removes electronic linked bingo from the list of gambling activities exempt from the 8.5 percent gross receipts tax, making it subject to standard gambling taxation.

Adds "compensation" (wages paid to employees and related payroll taxes for conducting gambling) as a deductible expense when calculating taxable gross receipts.

Modifies combined net receipts tax brackets and rates, raising the threshold for the first bracket from $87,500 to $100,000 and increasing upper brackets to $200,000 and $300,000, with corresponding rate adjustments.

Allows commissioner to delay reporting requirements for electronic pull-tab games until the game is closed by the organization.

Removes mandatory annual financial audits for organizations with over $750,000 in gross receipts and makes audits discretionary based on compliance violations; retains requirement for annual certified inventory and cash count.