Minnesota HF2062 amends sales and use tax remittance requirements and introduces a vendor allowance for retailers.

Minnesota HF2062 amends the sales and use tax remittance requirements for vendors. Vendors with a sales tax liability of $250,000 or more must remit 87.5% of their estimated June net liability two business days before June 30. Vendors with a liability between $10,000 and $250,000 must remit 84.5% of their estimated June net liability. The remaining amount is due by August 20. The bill also introduces a vendor allowance for retailers to compensate for the costs of collecting and administering the tax.

Minnesota HF2062 amends sales and use tax remittance requirements and introduces a vendor allowance for retailers.

Minnesota HF2062 amends the sales and use tax remittance requirements for vendors. Vendors with a sales tax liability of $250,000 or more must remit 87.5% of their estimated June net liability two business days before June 30. Vendors with a liability between $10,000 and $250,000 must remit 84.5% of their estimated June net liability. The remaining amount is due by August 20. The bill also introduces a vendor allowance for retailers to compensate for the costs of collecting and administering the tax.