Charitable Gambling Tax Rates have now been reduced by 15% in
the last
3 years for each and every Charitable Gambling Organization in the
state. Because of ACM's efforts Minnesota's 1500+ licensed Charitable
Gambling Organizations now have approximately $9.6 million dollars
more
to spend annually on the many worthwhile programs and projects they
support in their communities. If you add in the approximately $6 million
dollars per year from ACM's succesful 1996 Unsold Ticket Tax Refund
initiative Minnesota's licensed Charitable Gambling Organizations are
paying about 22% less on average in Minnesota Charitable Gambling Taxes.
Sections 3, 5, & 6 of Article 10 (Special Taxes) of H.F. No.
4127
change Minnesota's Charitable Gambling Taxes effective July 1, 2000
as
follows:
• Net Receipts Tax on bingo, paddlewheels, & raffles reduced from
9.0%
to 8.5%
• Ideal Gross Tax on pull-tabs & tipboards reduced from 1.8% to 1.7%
• Combined Receipts Tax on pull-tabs & tipboards reduced from
1.8%-3.6%-5.4% to 1.7%-3.4%-5.1%
For fiscal year 2001 (July 1, 2000 - June 30, 2001) the 5.6% Charitable
Gambling Tax Reduction will provide an additional $3,100,000 to licensed
Charitable Gambling Organizations to spend in their communities for
lawful purpose contributions. The 5.6% Charitable Gambling Tax Reduction
will be around $3,250,000 for each subsequent fiscal year.
Sections 3, 4, 5, & 6 of Article 10 (Special Taxes) of Chapter
No. H.F.
No. 4127 are printed on pages 15, 16, & 17 of this newsletter.