MN HF722

Reduces combined net receipts tax rates for lawful gambling organizations: from 9% to 6% on net receipts not over $87,500; from 18% to 12% on receipts over $87,500 but not over $122,500; from 27% to 18% on receipts over $122,500 but not over $157,500; and from 36% to 24% on receipts over $157,500.

Allows organizations to deduct amounts actually expended for lawful purpose contributions under Minnesota Statutes section 349.12, subdivision 25, paragraph (a), clauses (1) to (7) and (9) to (26) when calculating combined net receipts subject to tax.

Maintains existing exemption for sports-themed tipboards from taxation under this section.

Takes effect July 1, 2019.