Minnesota HF5055 modifies individual income, corporate franchise, sales and use, and gross receipts taxes, and imposes new taxes on firearms and.

Minnesota HF5055 modifies various tax provisions, including individual income, corporate franchise, sales and use, and gross receipts taxes. It also imposes a 10% tax on gross receipts from retail sales of firearms and ammunition, collected by firearm retailers. Additionally, the bill imposes a tax on social media platform businesses based on the number of Minnesota consumers from whom they collect data. The bill includes provisions for federal conformity, modifies the sustainable aviation fuel credit, and adjusts the dependent care credit.

Minnesota HF5055 modifies individual income, corporate franchise, sales and use, and gross receipts taxes, and imposes new taxes on firearms and.

Minnesota HF5055 modifies various tax provisions, including individual income, corporate franchise, sales and use, and gross receipts taxes. It also imposes a 10% tax on gross receipts from retail sales of firearms and ammunition, collected by firearm retailers. Additionally, the bill imposes a tax on social media platform businesses based on the number of Minnesota consumers from whom they collect data. The bill includes provisions for federal conformity, modifies the sustainable aviation fuel credit, and adjusts the dependent care credit.