Minnesota HF3117 imposes an excise tax on social media platform businesses based on the number of Minnesota consumers.

Minnesota HF3117 establishes an excise tax on social media platform businesses that collect consumer data from Minnesota residents. The tax rate varies based on the number of Minnesota consumers: $0.10 per month for 100,000 to 500,000 consumers, $40,000 plus $0.25 per month for 500,000 to 1,000,000 consumers, and $165,000 plus $0.50 per month for over 1,000,000 consumers. Businesses must report and pay the tax using prescribed forms and due dates, and maintain required records. The tax applies to consumer data collected after December 31, 2025.

Minnesota HF3117 imposes an excise tax on social media platform businesses based on the number of Minnesota consumers.

Minnesota HF3117 establishes an excise tax on social media platform businesses that collect consumer data from Minnesota residents. The tax rate varies based on the number of Minnesota consumers: $0.10 per month for 100,000 to 500,000 consumers, $40,000 plus $0.25 per month for 500,000 to 1,000,000 consumers, and $165,000 plus $0.50 per month for over 1,000,000 consumers. Businesses must report and pay the tax using prescribed forms and due dates, and maintain required records. The tax applies to consumer data collected after December 31, 2025.