Minnesota SF4483 creates a tax on certain remittance transfers sent from the state.

Minnesota SF4483 introduces a tax on remittance transfers sent from the state, equal to one percent of the transfer amount. This tax applies only to transfers involving cash, money orders, cashier's checks, or similar instruments. Remittance transfer providers must collect and remit the tax to the commissioner. The tax does not apply to transfers funded with debit or credit cards issued in the United States. The tax becomes effective for transfers made after June 30, 2026.

Minnesota SF4483 creates a tax on certain remittance transfers sent from the state.

Minnesota SF4483 introduces a tax on remittance transfers sent from the state, equal to one percent of the transfer amount. This tax applies only to transfers involving cash, money orders, cashier's checks, or similar instruments. Remittance transfer providers must collect and remit the tax to the commissioner. The tax does not apply to transfers funded with debit or credit cards issued in the United States. The tax becomes effective for transfers made after June 30, 2026.