A Guide To STARTING A BUSINESS IN MINNESOTA 42nd Ed 2024

• M4, Corporate Franchise Tax Return • M8, S Corporation Return • M4R Minnesota Business Activity Report • Withholding of Employee Minnesota Income Tax A Minnesota Tax ID may be obtained online, by phone, or by mailing Form ABR, Application for Business Registration.

If you are filing online, go to Business Tax Registration. You will need: • Your Federal Employer Identification Number (FEIN), if applicable;

• The legal name or sole proprietor name and business address • The business name (Certificate of Assumed Name) if applicable • North American Industry Classification (NAICS) code available from the U.S. Census Bureau’s website • Names and Social Security numbers of the sole proprietor, officers, partners or representatives • Address and name of a contact person If you do not have Internet access, call 651-282-5225 or 800-657-3605 to speak to a business registration representative. If you already have a Minnesota Tax ID Number, you may need to apply for a new one if the business changes its legal organization, or you are required to apply for a new federal ID number. If a business has a Minnesota Tax ID Number and is registered to collect sales tax, the Minnesota Department of Revenue will send a confirmation letter that will serve as a sales tax permit. It is not required that this letter be displayed, but suppliers may require a copy for their records. A copy of the registration confirmation may be printed by using e-Services and select Update business information. The Minnesota Tax ID Number is called other things, such as “sales tax exempt number”, “resale exemption number”, or “seller’s permit”. This is merely a difference in terminology, often encountered in dealing with suppliers from other states. If a business has a Minnesota Tax ID Number and is registered for the tax types that it needs to collect and submit, then it does not need to apply for any additional numbers from the Minnesota Department of Revenue. If a business is registered to collect income tax withholding, the Minnesota Tax ID Number also serves as its Minnesota Employer ID for Minnesota individual income tax withholding purposes. This number does not serve as the Unemployment Insurance Employer Account Number.

213

Made with FlippingBook - Online Brochure Maker