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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:

  1. It proposes new, lower tax rates on the money groups earn from gambling activities after paying out prizes.
  2. It introduces different tax brackets, each with a new tax rate, for different amounts of net receipts an organization receives in a fiscal year.
  3. The bill specifies the exact percentages and tax amounts for each bracket.
  4. 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.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 02, 2025SenateFloorActionIntroduction and first reading
February 02, 2025SenateFloorActionReferred toTaxes

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"
  }
]

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