Minnesota compliance at a glance
- Sales tax: 6.88% state rate. State 6.875%; combined 7-8.875% in metros.
- Late fees: Up to 1.5% per month. (Minn. Stat. §334.01) Default 6%/yr; contract rates up to 8%/yr without license.
- Prompt-pay law: Minnesota Prompt Payment Act (Minn. Stat. §471.425 for public; §337.10 for construction). Public: 35 days from invoice. Construction subs paid within 10 days of GC receiving payment; 1.5% per month interest if late.