Certain social media businesses excise tax establishment provision

Minnesota Senate Bill 3197 establishes a tax on large social media platforms that collect consumer data from Minnesota residents. It directly affects for-profit social media businesses with more than 100,000 Minnesota users monthly, imposing a tiered tax based on user volume: $0 for ≤100,000 users, $0.10 per user over 100,000 for 100k-500k users, $40,000 plus $0.25 per user over 500k for 500k-1 million users, and $165,000 plus $0.50 per user over 1 million users. The tax applies to data collection (not just user count), with platforms required to verify Minnesota residency and pay quarterly. Revenues fund the state general fund, and businesses can claim credits for similar taxes paid to other states.