MN SF187

Reduces the combined net receipts tax rates for lawful gambling organizations across all income brackets, lowering rates from 9% to 7% for receipts not over $87,500, from 18% to 15% for receipts $87,500-$122,500, from 27% to 23% for receipts $122,500-$157,500, and from 36% to 31% for receipts over $157,500.

Adjusts the base tax amounts for each income bracket: $87,500 and below from $7,875 to $6,125, $122,500 bracket from $14,175 to $11,375, and $157,500 bracket from $23,625 to $19,425.

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

Effective date is July 1, 2023.