SF 5052

Summary

As amended 5/4/2026: - Amends references to the IRC such that the state conforms to 168(k), 168(n) of the Internal Revenue Code as of March 1, 2026 (Article 1) - Amends the term "sustainable aviation fuel” (Article 2, Sec. 1, Subdivision 1). - Extends the sunset for the sustainable aviation fuel credit to December 31, 2030 (Article 2, Sec. 4). - Makes technical amendments to the film production credit including increasing the credit amount from 25% to 40% of eligible production expenses (Article 2, Sec. 8 and 9). - Decouples Minnesota from section 530 of federal Public Law 95-600, which provides that employer tax liabilities resulting from classification of certain workers as nonemployees do not apply under certain circumstances (Article 2, Sec. 17). - Imposes a social media tax up to $550,000 plus $0.90 per month on the number of consumers over 1 million (Article 4, Sec. 2). - Allows a business within a tourism improvement district to collect a service charge imposed by the district (Article 4, Sec, 5). - Extends the authorization of St. Paul to impose a sales tax to December 31, 2061 (Article 4, Sec. 5). - Authorizes Little Falls to extend its food and beverage tax to July 1, 2056 (Article 5, Sec. 6). - Allows a business located in a tourism improvement district to pass on municipality-imposed tourism improvement service charges to their purchasers, and excludes the service charge from the sales tax determination if the charge is stated separately on the invoice or bill. (pg. 53) - Authorizes various cities to impose local taxes such as sales tax, taxes on food and beverages, or occupancy taxes (Article 5, Sec. 13 -55). - Note: 5/4/2026 amendment removes: - Provisions regarding firearms and ammunition. - Language expanding the sales tax base to accounting services, legal services, and banking and brokerage services. - Provisions that reduce the sales tax rate. - Provisions related to pass-through entity tax - Provisions related to Net CFC and 174A. - Amendment adjusts social media tax calculation. - Provisions concerning tobacco taxes. - Provisions concerning artificial intelligence readiness commission.

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