Bill > SF2692

This bill modifies the tax rates applied to charitable gambling organizations in Minnesota, specifically reducing the tax percentages applied to different levels of combined net receipts. Under the proposed changes, the tax rates would be lowered at each income tier: for organizations with net receipts not over $87,500, the tax rate would decrease from eight percent to four percent; for organizations earning between $87,500 and $122,500, the rate would drop from 17 percent to eight and one-half percent; for organizations with net receipts between $122,500 and $157,500, the rate would be reduced from 25 percent to 12.5 percent; and for organizations earning over $157,500, the rate would decrease from 33.5 percent to 16.75 percent. The bill also maintains an existing exemption for gross receipts derived from sports-themed tipboards and specifies that these tax rate changes will become effective on July 1, 2025. The purpose appears to be reducing the tax burden on charitable organizations that conduct lawful gambling activities, potentially making such fundraising efforts more financially viable for these groups.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2692&ssn=0&y=2025