summary
Introduced
04/09/2026
04/09/2026
In Committee
04/09/2026
04/09/2026
Crossed Over
Passed
Dead
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to taxation; modifying individual income, corporate franchise, sales and use, and gross receipts taxes and other various taxes and tax-related provisions; providing appointments; providing for certain federal conformity; modifying pass-through entity tax provisions; modifying the sustainable aviation fuel credit; modifying the dependent care credit; modifying the historic structure rehabilitation credit; imposing a gross receipts tax on firearms; lowering the statewide sales and use tax rate and expanding the base; imposing a social media tax and dedicating receipts; making changes to the cannabis gross receipts tax; creating a commission on artificial intelligence; providing for appointments; requiring reports; appropriating money; amending Minnesota Statutes 2024, sections 41A.30, subdivisions 1, 2, 7; 270C.726, subdivisions 2, 3; 289A.02, subdivision 7; 289A.08, subdivision 7a; 289A.12, subdivisions 4, 12, by adding a subdivision; 289A.60, subdivision 8; 290.01, subdivisions 19, 31; 290.0122, subdivision 4; 290.0131, subdivision 9, by adding subdivisions; 290.0132, by adding subdivisions; 290.0133, subdivision 11, by adding subdivisions; 290.0134, by adding subdivisions; 290.033; 290.06, subdivision 40; 290.067; 290.0921, subdivision 3; 290.21, subdivision 10; 290.92, subdivision 26; 290A.03, subdivision 15; 291.005, subdivision 1; 295.81, subdivisions 1, 3, 4, 6, 9; 297A.61, subdivision 3; 297A.62, subdivision 1; 297F.25, subdivision 1; Minnesota Statutes 2025 Supplement, sections 41A.30, subdivision 5; 290.06, subdivisions 2c, 23a; 290.091, subdivision 2; proposing coding for new law in Minnesota Statutes, chapters 116J; 290; 295.
AI Summary
This bill makes numerous modifications to Minnesota's taxation policies, including changes to individual income, corporate franchise, sales and use, and gross receipts taxes. It updates the state's conformity with the Internal Revenue Code to March 1, 2026, impacting various tax calculations and credits. The bill also modifies provisions related to pass-through entity taxes, introduces a gross receipts tax on firearms and ammunition, and lowers the statewide sales and use tax rate while expanding its base. Additionally, it imposes a new tax on social media companies based on the number of Minnesota consumers whose data they collect, with receipts dedicated to a new Artificial Intelligence Readiness Account. The bill also adjusts taxes on cannabis products, modifies credits for sustainable aviation fuel, dependent care, and historic structure rehabilitation, and establishes a Council on Artificial Intelligence Readiness.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Taxes (08:30:00 4/14/2026 ) (on 04/14/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/94/2026/0/SF/5052/ |
| BillText | https://www.revisor.mn.gov/bills/94/2026/0/SF/5052/versions/0/pdf/ |
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