• Minnesota’s taxpayer rights outline similar protections when dealing with the Minnesota Department of Revenue, including rights related to audits, appeals, and collection actions. Taxpayer rights information is available on the Department of Revenue’s website or by contacting the department. Both the United States Congress and the Minnesota Legislature have enacted a Taxpayer Bill of Rights that governs many taxpayer relationships with the Internal Revenue Service and the Minnesota Department of Revenue. These laws formalize and standardize many audit, appeal, and collection procedures and clarify rights and protections available to taxpayers.
ELECTRONIC FILING AND PAYMENT - FEDERAL For Federal Taxes:
• Many businesses must make federal tax deposits electronically through the Electronic Federal Tax Payment System (EFTPS). Details are in the “Business Taxes – Income Tax Withholding – Withholding Tax Deposit and Filing Requirements” section of this Guide and at EFTPS.gov. • Certain corporations are required to e‑file their federal income tax returns (Forms 1120 or 1120‑S) if they have assets above specified thresholds and file a high volume of federal returns, including employment, excise, and information returns. • More information about who must e‑file is available on the IRS E‑file for Business and Self‑Employed Taxpayers pages. ELECTRONIC FILING AND PAYMENT - MINNESOTA Minnesota law requires certain businesses to pay state taxes electronically once they reach specified thresholds. • If, during the 12‑month period from July 1 through June 30 , your business meets an electronic payment threshold for any listed tax or fee, you must pay all Minnesota business taxes electronically starting the following January 1. • Once you are required to pay electronically, you must continue to do so in later years. • If you are required to pay electronically and do not, the Department of Revenue may assess a 5 percent penalty for each payment that should have been remitted electronically. The following table summarizes when the electronic payment requirement first applies: Electronic payments required if business had at least: Alcoholic beverage tax $10,000 in tax Cigarette and tobacco tax $10,000 in tax Corporation franchise tax $10,000 in estimated tax payments Corporation franchise - nonprofits $10,000 in tax Fiduciary income tax 100 trusts Insurance premium taxes $10,000 in tax Lawful gambling tax $10,000 in tax Metropolitan landfill fee $10,000 in tax
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