This bill proposes the introduction of a gross receipts tax on various business-to-business services in Minnesota, codified under a new section in chapter 295 of the Minnesota Statutes. The tax will be set at two percent of gross receipts from retail sales of specified taxable services, which include legal, accounting, engineering, consulting, and various repair and maintenance services. The bill outlines the definitions of key terms, the responsibilities of trade or business entities regarding tax collection, and the conditions under which the tax applies. It also establishes provisions for tax credits for taxes paid to other states and details the administrative processes for tax reporting and payment.

Additionally, the bill mandates that the revenues generated from this tax, including any penalties and interest, be deposited into the general fund. It specifies that the tax liability arises when taxable services are received, and it includes provisions for personal liability regarding unpaid taxes. The effective date for this tax is set for services received after December 31, 2025.