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SF 4522

as introduced - 92nd Legislature (2021 - 2022) Posted on 04/22/2022 10:33am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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Current Version - as introduced

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A bill for an act
 relating to taxation; lawful gambling; modifying the combined net receipts tax;
amending Minnesota Statutes 2020, section 297E.02, subdivision 6.

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

Section 1.

Minnesota Statutes 2020, section 297E.02, subdivision 6, is amended to read:


Subd. 6.

Combined net receipts tax.

(a) In addition to the taxes imposed under
subdivision 1, a tax is imposed on the combined net receipts of the organization. As used
in this section, "combined net receipts" is the sum of the organization's gross receipts from
lawful gambling less gross receipts directly derived from the conduct of paper bingo, raffles,
and paddlewheels, as defined in section 297E.01, subdivision 8, and less the net prizes
actually paid, other than prizes actually paid for paper bingo, raffles, and paddlewheels, for
the fiscal year. The combined net receipts of an organization are subject to a tax computed
according to the following schedule:

If the combined net receipts
for the fiscal year are:
 The tax is:
Not over $87,500
 deleted text begin ninedeleted text end new text begin sevennew text end percent
Over $87,500, but not over
$122,500
 deleted text begin $7,875deleted text end new text begin $6,125new text end plus deleted text begin 18deleted text end new text begin 15new text end percent of
the amount over $87,500, but not over
$122,500
Over $122,500, but not
over $157,500
 deleted text begin $14,175deleted text end new text begin $11,375new text end plus deleted text begin 27deleted text end new text begin 23new text end percent
of the amount over $122,500, but not
over $157,500
Over $157,500
 deleted text begin $23,625deleted text end new text begin $19,425new text end plus deleted text begin 36deleted text end new text begin 31new text end percent
of the amount over $157,500

(b) Gross receipts derived from sports-themed tipboards are exempt from taxation under
this section. For purposes of this paragraph, a sports-themed tipboard means a sports-themed
tipboard as defined in section 349.12, subdivision 34, under which the winning numbers
are determined by the numerical outcome of a professional sporting event.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2022.
 new text end