Minnesota SF2692 modifies charitable gambling tax rates and exempts sports-themed tipboard receipts.
Minnesota SF2692 amends the tax rates on charitable gambling, applying a tiered tax on combined net receipts from lawful gambling. Exemptions include sports-themed tipboard receipts. The tax rates vary based on the amount of combined net receipts, with higher rates for larger amounts. The bill also defines "combined net receipts" as gross gambling receipts minus certain expenses and prizes. Effective July 1, 2025.
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