Minnesota SF3065 proposes an excise tax on social media platform businesses based on the number of Minnesota consumers.

Minnesota SF3065 introduces an excise tax on social media platform businesses that collect consumer data from more than 100,000 Minnesota consumers monthly. The tax rate varies from $0.10 to $0.50 per consumer, depending on the number of consumers. Businesses can claim a credit if another state imposes an identical tax. The tax applies to consumer data collected after December 31, 2025. The revenues will be deposited into the state's general fund.

Minnesota SF3065 proposes an excise tax on social media platform businesses based on the number of Minnesota consumers.

Minnesota SF3065 introduces an excise tax on social media platform businesses that collect consumer data from more than 100,000 Minnesota consumers monthly. The tax rate varies from $0.10 to $0.50 per consumer, depending on the number of consumers. Businesses can claim a credit if another state imposes an identical tax. The tax applies to consumer data collected after December 31, 2025. The revenues will be deposited into the state's general fund.