|
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. 578 - Combined net receipts tax rate modification
|
|
Author:
|
Senator Rich Draheim
|
|
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. The tax is imposed at graduated rates to corresponding net receipt amounts. This bill reduces the tax rates:
- from 9% to 6% in the first bracket;
- from 18% to 12% in the second bracket;
- from 27% to 18% in the third bracket; and
- from 36% to 27% in the fourth bracket.
The bill reduces the base amounts that are added to each bracket before applying the corresponding reduced rate. Finally, the bill 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
|