Minnesota’s online sales tax plan due next week

Minnesota's tax agency will provide answers next week about how and when online retailers will be required to collect sales taxes. .

Officials at the Department of Revenue have been analyzing a June decision from the U.S. Supreme Court. The ruling allowed states to require sales taxes on transactions even if the seller has no physical presence in the state.

The agency plans to announce compliance plans on July 25.

On Thursday, the Streamlined Sales Tax Governing Board will hold an emergency meeting to give individuals and businesses a chance to discuss the court decision and Minnesota's plans.

One federal estimate showed that Minnesota stood to gain at least $130 million and as much as $200 million in additional sales tax revenue per year under the ruling.

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