MN SF2692

Reduces combined net receipts tax rates for charitable gambling organizations by approximately 50% across all brackets, effective July 1, 2025

Lowers the base tax rate from 8% to 4% for organizations with combined net receipts not exceeding $87,500

Reduces marginal tax rates at higher income brackets: from 17% to 8.5% ($87,500-$122,500), from 25% to 12.5% ($122,500-$157,500), and from 33.5% to 16.75% (over $157,500)

Maintains existing exemption for gross receipts from sports-themed tipboards where winning numbers are determined by professional sporting event outcomes

Amends Minnesota Statutes 2024, section 297E.02, subdivision 6