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MN HF4245

Bill

Official Source

Status

Introduced

3/26/2018

Primary Sponsor

Joe McDonald

Click for details

Origin

House of Representatives

90th Legislature 2017-2018

AI Summary

  • Reduces combined net receipts tax rates for lawful gambling organizations under Minnesota Statutes 2016, section 297E.02, subdivision 6
  • Lowers primary tax brackets from 9, 18, and 27 percent to 6, 12, and 18 percent for organizations with combined net receipts up to $157,500
  • Reduces base tax amounts in each bracket (e.g., from $7,875 to $5,250 for receipts over $87,500 but not over $122,500)
  • Exempts sports-themed tipboards from taxation under this section, where winning numbers are determined by professional sporting event outcomes
  • Effective date is July 1, 2018

Legislative Description

Combined net receipts tax rates reduced.

Last Action

Introduction and first reading, referred to Commerce and Regulatory Reform

3/26/2018

Committee Referrals

Commerce and Regulatory Reform3/26/2018

Full Bill Text

No bill text available