MN SF3712

Increases real estate transaction thresholds requiring certificate of value filings and deed tax from $1,000 to $3,000 effective December 31, 2018

Establishes new partnership-level audit reporting and payment requirements for federal adjustments, allowing partnerships to elect entity-level payment in lieu of individual partner taxes, effective for tax years beginning after December 31, 2017

Creates sections 289A.381 through 289A.385 defining partnership audit procedures, federal adjustment reporting timelines (180 days), and assessment periods for commissioners to collect additional taxes

Modifies lodging tax provisions to clarify that taxes apply to entire consideration for lodging including ancillary and related services provided by accommodations intermediaries

Repeals Minnesota Statutes section 289A.38, subdivisions 7, 8, and 9, replacing them with new federal adjustment reporting framework for partnerships under new section 289A.382 and 289A.383