MN HF4007

Reduces the combined net receipts tax rates on lawful gambling organizations across all income brackets, effective July 1, 2022.

Lowers the tax rate from 9 percent to 7 percent on combined net receipts not over $87,500.

Reduces tax rates by 3-5 percentage points on higher income brackets: from 18 to 15 percent (over $87,500 to $122,500), from 27 to 23 percent (over $122,500 to $157,500), and from 36 to 31 percent (over $157,500).

Exempts gross receipts from sports-themed tipboards from taxation under this section, where winning numbers are determined by professional sporting event outcomes.