MN HF4341

Imposes a 1% tax on remittance transfers (money transfers to foreign countries) sent from Minnesota, effective for transfers made after June 30, 2026

Tax applies only to cash-based transfers where the sender provides cash, money orders, cashier's checks, or similar physical instruments to the transfer provider

Exempts transfers funded by withdrawals from U.S. financial institution accounts or by U.S.-issued debit or credit cards

Remittance transfer providers are responsible for collecting the tax from senders and remitting it to the state using existing sales tax filing procedures and schedules

Tax liability becomes a personal debt of the remittance transfer provider, with standard audit, penalty, interest, and enforcement provisions applying