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MN SF2661
Bill
Status
Introduced
3/7/2023
Primary Sponsor
Jordan Rasmusson
Click for details
AI Summary
- Eliminates accelerated June tax payment requirements for mortgage registry tax, deed tax, cigarette tax, tobacco products tax, and alcohol excise tax
- Removes the requirement for counties and distributors to remit estimated June tax receipts two business days before June 30, with remaining amounts due August 20
- Repeals penalty provisions (10 percent) that applied when accelerated June payments fell below 84.5 to 87.5 percent thresholds of estimated or actual June liability
- Returns mortgage registry tax and deed tax to standard monthly payment schedule by the 20th of each month for the preceding month's receipts
- Effective the day following final enactment
Legislative Description
June accelerated liability repeal for the mortgage registry tax, deed tax, cigarette and tobacco taxes and alcohol excise taxes
Last Action
Referred to Taxes
3/7/2023
Committee Referrals
Taxes3/7/2023
Full Bill Text
No bill text available