Excise tax on certain social media platform businesses established.

HF 3117 imposes a tiered excise tax on social media businesses that collect consumer data from Minnesota residents. It directly affects for-profit social media platforms with over 100,000 Minnesota users monthly, requiring them to pay tax based on user volume: no tax for under 100,000 users, $0.10 per user for 100,001-500,000 users, and escalating rates for larger user bases. The tax is calculated using Minnesota residents' data, defined as individuals with a Minnesota address, mailing address, or IP location tied to Minnesota. Businesses must report and pay the tax quarterly to Minnesota’s revenue commissioner, with revenues deposited into the state general fund.