|
Senate Counsel, Research and Fiscal Analysis
|
Minnesota Senate Bldg.
|
95 University Avenue W. Suite 3300
|
St. Paul, MN 55155
|
(651) 296-4791
|
Alexis C. Stangl
|
Director
|
|
|
Senate
|
State of Minnesota
|
|
|
|
|
|
|
|
S.F. No. 414 - Combined net receipts tax subtraction for lawful purpose expenditures
|
|
Author:
|
Senator Justin D. Eichorn
|
|
Prepared By:
|
Nora Pollock, Senate Counsel (651/297-8066)
|
|
Date:
|
February 5, 2019
|
|
|
|
|
The combined net receipts tax is imposed on the net receipts from the conduct of paper or electronic pull-tabs, tipboards, and electronic linked bingo. This bill allows a lawful gambling organization to subtract its lawful purpose expenditures as defined under current law (except for lawful gambling taxes) before calculating its tax liability. Lawful purpose expenditures include charitable contributions, expenditures for youth recreational and athletic activities, expenditures for acquisition, repair, or improvement of real property and assets owned by a charitable gambling organization, expenditures for specified natural resources projects or activities, and expenditures for organizations that recognize military service. The bill also strikes obsolete language pertaining to modifying the tax rates for the combined net receipts tax based on estimated revenue for fiscal year 2016.
Effective July 1, 2019.
|
|
|
Check on the status of this bill
|
|
Back to Senate Counsel and Research Bill Summaries page
|
|
|
|
This page is maintained by the Office of Senate Counsel, Research, and Fiscal Analysis for the Minnesota Senate.
|
|
Last review or update: 02/05/2019
|
|
If you see any errors on this page, please e-mail us at
webmaster@senate.mn
|