Minnesota Legislature
HF 1310
as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am
Current Version - as introduced
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A bill for an act
relating to taxation; providing a temporary reduction in lawful gambling tax rates;
amending Minnesota Statutes 2006, section 297E.02, by adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2006, section 297E.02, is amended by adding a
subdivision to read:
new text begin Subd. 12. new text end
new text begin Tax rates for fiscal years 2008 to 2010. new text end
new text begin
(a) Notwithstanding the
provisions of subdivisions 1, 4, and 6, the tax rates under this subdivision apply in lieu of
the rates in those subdivisions for the periods specified.
new text end
new text begin
(b) For purposes of subdivision 1, a rate of 6.4 percent must be used for gross
receipts received after June 30, 2007, and before July 1, 2010.
new text end
new text begin
(c) For purposes of subdivision 4, paragraph (a), a tax rate of 1.3 percent applies
from July 1, 2007, through June 30, 2010, and a refund or credit rate of 1.5 percent applies
for the February 2008 and February 2011 monthly returns and a refund or credit rate of 1.3
percent applies for the February 2009 and February 2010 monthly returns.
new text end
new text begin
(d) For purposes of subdivision 6, the following combined receipts tax rates apply
for fiscal years 2008, 2009, and 2010:
new text end
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new text begin
If combined receipts for the fiscal year are: new text end |
new text begin
The tax is: new text end |
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new text begin
Not over $500,000 new text end |
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zero new text end |
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Over $500,000, but not over $700,000 new text end |
new text begin
1.3 percent of the amount over $500,000, but not over $700,000 new text end |
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new text begin
Over $700,000, but not over $900,000 new text end |
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$2,600 plus 2.6 percent of the amount over $700,000, but not over $900,000 new text end |
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new text begin
Over $900,000 new text end |
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$7,800 plus 3.8 percent of the amount over $900,000 new text end |
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective on July 1, 2007.
new text end