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Minnesota Monthly Accelerated Sales Tax Payments Suspended

  • Jun 15, 2012 | Susan McLain

The Minnesota Department of Revenue has announced that “Effective July 1, 2012, monthly accelerated payments will be suspended, with the exception of the June estimated payment.”

Currently, businesses with a sales tax liability of $120,000 or more in the previous fiscal year, are required to make accelerated payments. This policy was effective September 1, 2010. However, beginning with the July 2012 payment, this practice is discontinued.

Why? “Pursuant to Minnesota Statutes 289A.20, the cash flow and budget reserve accounts have reached their statutory amounts” and the program can now be suspended.

The June 2012 payment will still be expected on June 28 with the final return and payment due August 20, 2012.

To view the accelerated payment schedule, click here.

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Sales tax rates, rules, and regulations change frequently. Although we hope you'll find this information helpful, this blog is for informational purposes only and does not provide legal or tax advice.
Avalara Author
Susan McLain
Avalara Author Susan McLain
Susan McLain began her career as a technical writer in technology industries such as satellite networking and medical devices. Her skills encompass technical and marketing writing, usability engineering, verification and validation testing and protocol writing, requirements development, business analysis, technical illustration/graphic design and marketing. She has owned her own business providing service to small to medium sized business and in other positions, she has been in project management, documentation and marketing. She is currently the content specialist for Avalara helping to “make sales tax less taxing.”