SF937 (Legislative Session 94 (2025-2026))
Rates reduction and corresponding changes enactment to brackets for the combined net receipts tax
Related bill: HF172
AI Generated Summary
This bill is about changing the way taxes are calculated on the money made from charitable gambling activities in Minnesota. The main points are:
- It proposes new, lower tax rates on the money groups earn from gambling activities after paying out prizes.
- It introduces different tax brackets, each with a new tax rate, for different amounts of net receipts an organization receives in a fiscal year.
- The bill specifies the exact percentages and tax amounts for each bracket.
- Additionally, it makes sports-themed tipboards exempt from these taxes. A tipboard is a type of gambling where winners are determined by the outcome of a sports game.
The goal is to reduce the tax rates and adjust the tax brackets accordingly, which could potentially help charitable organizations retain more from their gambling proceeds.
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 03, 2025 | Senate | Action | Introduction and first reading | ||
| February 03, 2025 | Senate | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Tax rates are reduced across multiple brackets."
],
"removed": [],
"summary": "This bill addresses amendments to the combined net receipts tax under Minnesota Statutes section 297E.02.",
"modified": [
"Adjusts tax brackets and percentages for combined net receipts tax, reducing rates."
]
},
"citation": "297E.02"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References the definition of terms used in section 297E.02 for lawful gambling activities.",
"modified": [
"Clarifies definitions for terms used within the tax calculation section."
]
},
"citation": "297E.01"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References the definition of sportsthemed tipboards for tax exemption purposes in section 297E.02.",
"modified": [
"Clarifies the exemption of taxation for sportsthemed tipboards by referencing their definition."
]
},
"citation": "349.12"
}
]Progress through the legislative process
In Committee