MN SF4483

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

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

Exempts transfers funded through bank account withdrawals from regulated financial institutions or through U.S.-issued debit or credit cards

Remittance transfer providers are responsible for collecting the tax from senders and remitting it to the state following the same procedures as sales tax under Chapter 297A

Tax liability, including interest and penalties, constitutes a personal debt of the person required to file a return from the time the liability arises