Minnesota SF3197 establishes an excise tax on social media businesses based on the number of Minnesota consumers.

Minnesota SF3197 introduces an excise tax on social media businesses that collect consumer data. The tax rate varies based on the number of Minnesota consumers: $0.10 per month for fewer than or equal to 100,000 consumers, $40,000 plus $0.25 per month for 100,000 to 500,000 consumers, and $165,000 plus $0.50 per month for over 500,000 consumers. Social media platform businesses must report and remit the tax, with revenues deposited into the general fund. The tax applies to consumer data collected after December 31, 2025.

Minnesota SF3197 establishes an excise tax on social media businesses based on the number of Minnesota consumers.

Minnesota SF3197 introduces an excise tax on social media businesses that collect consumer data. The tax rate varies based on the number of Minnesota consumers: $0.10 per month for fewer than or equal to 100,000 consumers, $40,000 plus $0.25 per month for 100,000 to 500,000 consumers, and $165,000 plus $0.50 per month for over 500,000 consumers. Social media platform businesses must report and remit the tax, with revenues deposited into the general fund. The tax applies to consumer data collected after December 31, 2025.