SF 1983

as introduced - 88th Legislature (2013 - 2014) Posted on 03/11/2014 10:09am

A bill for an act
relating to taxation; aircraft; clarifying rates; amending Minnesota Statutes 2013
Supplement, section 360.531, subdivision 2.

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

Section 1.

Minnesota Statutes 2013 Supplement, section 360.531, subdivision 2,
is amended to read:

Subd. 2.

Rate.

The tax shall be as follows:

Base Price		Tax
Under $499,999 Not over $500,000		$100
over $500,000 to $999,999 but not over $1,000,000		$200
over $1,000,000 to $2,499,999 but not over $2,500,000		$2,000
over $2,500,000 to $4,999,999 but not over $5,000,000		$4,000
over $5,000,000 to $7,499,999 but not over $7,500,000		$7,500
over $7,500,000 to $9,999,999 but not over $10,000,000		$10,000
over $10,000,000 to $12,499,999 but not over $12,500,000		$12,500
over $12,500,000 to $14,999,999 but not over $15,000,000		$15,000
over $15,000,000 to $17,499,999 but not over $17,500,000		$17,500
over $17,500,000 to $19,999,999 but not over $20,000,000		$20,000
over $20,000,000 to $22,499,999 but not over $22,500,000		$22,500
over $22,500,000 to $24,999,999 but not over $25,000,000		$25,000
over $25,000,000 to $27,499,999 but not over $27,500,000		$27,500
over $27,500,000 to $29,999,999 but not over $30,000,000		$30,000
over $30,000,000 to $39,999,999 but not over $40,000,000		$50,000
over $40,000,000 and over		$75,000

EFFECTIVE DATE.

This section is effective July 1, 2014, and applies to aircraft
tax due on or after that date.