Excise tax on certain social media platform businesses establishment

Minnesota Senate Bill 3065 would impose a monthly tax on social media companies based on the number of Minnesota users whose data they collect. It targets for-profit social media platforms with more than 100,000 Minnesota users per month, charging tiered rates: $0.10 per user for 100,001-500,000 users, $0.25 for 500,001-1,000,000 users, and $0.50 for over 1 million users. The tax applies to data collection (not just user count), with "Minnesota consumer" defined as residents based on address or IP. The bill would take effect for data collected after December 31, 2025.