Bill Text: MN HF2424 | 2013-2014 | 88th Legislature | Introduced

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Bill Title: Aircraft taxation rates clarified.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2014-03-03 - Author added Lohmer [HF2424 Detail]

Download: Minnesota-2013-HF2424-Introduced.html

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A bill for an act

relating to taxation; aircraft; clarifying rates;amending Minnesota Statutes 2013
Supplement, section 360.531, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

    Section 1. Minnesota Statutes 2013 Supplement, section 360.531, subdivision 2,
is amended to read:
    Subd. 2. Rate. The tax shall be as follows:

	Base Price		Tax
	Under $499,999 Not over $500,000		$100
	over $500,000 to $999,999 but not over $1,000,000		$200
	over $1,000,000 to $2,499,999 but not over $2,500,000		$2,000
	over $2,500,000 to $4,999,999 but not over $5,000,000		$4,000
	over $5,000,000 to $7,499,999 but not over $7,500,000		$7,500
	over $7,500,000 to $9,999,999 but not over $10,000,000		$10,000
	over $10,000,000 to $12,499,999 but not over $12,500,000		$12,500
	over $12,500,000 to $14,999,999 but not over $15,000,000		$15,000
	over $15,000,000 to $17,499,999 but not over $17,500,000		$17,500
	over $17,500,000 to $19,999,999 but not over $20,000,000		$20,000
	over $20,000,000 to $22,499,999 but not over $22,500,000		$22,500
	over $22,500,000 to $24,999,999 but not over $25,000,000		$25,000
	over $25,000,000 to $27,499,999 but not over $27,500,000		$27,500
	over $27,500,000 to $29,999,999 but not over $30,000,000		$30,000
	over $30,000,000 to $39,999,999 but not over $40,000,000		$50,000
	over $40,000,000 and over		$75,000

EFFECTIVE DATE.This section is effective July 1, 2014, and applies to aircraft
tax due on or after that date.