MN SF3425

Imposes a monthly excise tax on social media platforms that collect data from more than 100,000 Minnesota users, with tiered rates: $0.10 per user for 100,001-500,000 users; $40,000 plus $0.25 per user for 500,001-1,000,000 users; $165,000 plus $0.50 per user over 1,000,000 users

Defines "social media platform business" as a for-profit entity operating a social media platform that collects, maintains, uses, processes, sells, or shares consumer data on more than 100,000 Minnesota consumers monthly

Presumes users are Minnesota consumers based on Minnesota home address, mailing address, or IP address connected to a Minnesota location, with the burden of proof on the platform to demonstrate otherwise

Allows a tax credit if another state imposes an identical excise tax on the same consumer to avoid double taxation

Effective for consumer data collected after December 31, 2025, with revenues deposited into the general fund