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MN HF293

Bill

Official Source

Status

Introduced

1/24/2019

Primary Sponsor

Ben Lien

Click for details

Origin

House of Representatives

91st Legislature 2019-2020

AI Summary

  • Reduces combined net receipts tax rates for lawful gambling organizations, lowering the tax from 9 percent to 6 percent on receipts not over $87,500
  • Reduces marginal tax rates across all income brackets, with rates decreasing from 18 to 12 percent, 27 to 18 percent, and 36 to 24 percent at higher receipt levels
  • Exempts gross receipts derived from sports-themed tipboards from taxation under this section
  • Removes the commissioner's April 1, 2016 revenue estimate trigger that would have activated alternative tax rates if estimated collections exceeded $94,800,000
  • Effective date of July 1, 2019

Legislative Description

Lawful gambling combined net receipts rates adjusted.

Last Action

Authors added Erickson and Boe

3/27/2019

Committee Referrals

Taxes3/7/2019
Commerce1/24/2019

Full Bill Text

No bill text available