Section 1 strikes due date requirements for accelerated payments required under section 2.

Section 2 strikes language requiring accelerated remittance for vendors with annual sales tax collections of at least $120,000 for all payments.  Because the cash flow and budget reserve accounts have reached the minimum statutory amounts, accelerated remittance under this section is no longer required and the language is obsolete.          

Section 3 strikes the requirement that cigarette distributors subject to accelerated tax payments must remit their June payments early.

Section 4 strikes the requirement that tobacco distributors subject to accelerated tax payments must remit their June payments early.

Section 5 strikes the cross-reference to accelerated remittance of the June liability for cigarette and tobacco distributors.

Section 6 repeals the subdivision (289.60, subd. 15) relating to the safe harbor and penalty provisions that apply to any accelerated payment requirements.  Repeals the subdivision (297F.09, subd. 10) requiring accelerated payments for cigarette or tobacco products distributors having an annual liability of $120,000 or more.  Repeals the subdivision (297G.09, subd. 9) requiring accelerated payments for liquor distributors having an annual liability of $120,000 or more.

This bill is effective beginning with the June 2013 tax liabilities.

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