Repeals taxes on lawful gambling receipts and makes technical changes to gambling regulations.
The bill repeals taxes on lawful gambling receipts in Minnesota, including gross receipts tax and combined net receipts tax. It also makes technical changes to gambling regulations, such as altering definitions and modifying reporting requirements. The changes affect organizations licensed to conduct lawful gambling, distributors, and manufacturers. The bill specifies new criteria for annual audits, including the need for a reconciliation of gambling operations bank accounts and a report on internal controls.
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