Minnesota SF5193 establishes a tax on amounts obtained through fraud by certain individuals and organizations.

Minnesota SF5193 creates a tax on amounts obtained through fraud by individuals and organizations convicted of fraud, those benefiting from fraud, and those receiving compensation for participating in fraudulent activities. The tax is equal to 100 percent of the amount obtained by fraud. The commissioner of revenue must investigate and establish the tax, which applies retroactively to determinations of fraud made after December 31, 2019. The collected tax money must be deposited into the tax relief account for income or property tax relief.

Minnesota SF5193 establishes a tax on amounts obtained through fraud by certain individuals and organizations.

Minnesota SF5193 creates a tax on amounts obtained through fraud by individuals and organizations convicted of fraud, those benefiting from fraud, and those receiving compensation for participating in fraudulent activities. The tax is equal to 100 percent of the amount obtained by fraud. The commissioner of revenue must investigate and establish the tax, which applies retroactively to determinations of fraud made after December 31, 2019. The collected tax money must be deposited into the tax relief account for income or property tax relief.