as introduced - 91st Legislature (2019 - 2020) Posted on 03/07/2019 02:46pm
Engrossments | ||
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Introduction | Posted on 03/07/2019 |
A bill for an act
relating to taxation; sales and use; providing for a vendor allowance; amending
Minnesota Statutes 2018, section 297A.77, subdivision 3; proposing coding for
new law in Minnesota Statutes, chapter 297A.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2018, section 297A.77, subdivision 3, is amended to read:
The tax collected by a retailer under this section, except
for the amount allowed to be retained by the seller under section 297A.816, must be remitted
to the commissioner as provided in chapter 289A and this chapter.
This section is effective for sales taxes remitted after June 30,
2019.
A retailer may retain a portion of sales tax collected as a
vendor allowance in compensation for the costs of collecting and administering the tax
under this chapter. This section applies only if the tax minus the vendor allowance is both
reported and remitted to the commissioner in a timely fashion as required under chapter
289A.
Use taxes paid by the retailer on the retailer's
own purchases and local sales and use taxes collected by the retailer are not included in
calculating the vendor allowance under this section.
The amount of the vendor
allowance is equal to the sum of one-quarter of one percent of the tax collected in the
reporting period, up to $250. The vendor allowance must not reduce the tax owed in the
reporting period to less than zero.
This section is effective for sales taxes remitted after June 30,
2019.