Bill > HF797

This bill modifies the tax rates and brackets for lawful gambling organizations in Minnesota by reducing tax rates and expanding the income brackets. Specifically, the bill increases the first tax bracket threshold from $87,500 to $100,000 and reduces the corresponding tax rate from 8% to 3%. The subsequent tax brackets are also adjusted, with lower tax rates and higher income thresholds. For example, the second bracket now ranges from $100,000 to $200,000 with a 10% tax rate (down from 17%), and the third bracket now covers $200,000 to $300,000 with an 18% tax rate (down from 25%). The fourth and final bracket over $300,000 now has a 26% tax rate (reduced from 33.5%). The bill also clarifies that gross receipts from sports-themed tipboards are exempt from this taxation. These changes are intended to provide tax relief for lawful gambling organizations, with the new rates and brackets becoming effective on July 1, 2025.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0797&ssn=0&y=2025