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SF 866

as introduced - 90th Legislature (2017 - 2018) Posted on 02/15/2017 10:20am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15
1.16

A bill for an act
relating to taxation; liquor; providing a credit for small wineries; amending
Minnesota Statutes 2016, section 297G.03, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2016, section 297G.03, is amended by adding a subdivision
to read:


new text begin Subd. 6. new text end

new text begin Small winery credit. new text end

new text begin (a) A qualified winery producing wine or cider is entitled
to a tax credit equal to the excise tax due under subdivision 1, paragraphs (b) to (g), on the
wine or cider sold in any fiscal year beginning July 1. A qualified winery may take the credit
on the 18th day of each month, but the total credit allowed may not exceed, in any fiscal
year, the lesser of:
new text end

new text begin (1) the liability for tax; or
new text end

new text begin (2) $136,275.
new text end

new text begin (b) For purposes of this subdivision, "qualified winery" means a winery, whether or not
located in this state, manufacturing fewer than 75,000 gallons of wine and cider annually.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2017.
new text end