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

STATE OF MINNESOTA TAX REQUIREMENTS

YOU MAY BE LIABLE FOR

IF YOU ARE TAXED AS*

USE FORM

DUE ON OR BEFORE

Tax Identification Number

Making taxable sales or withholding taxes; Partnership, Corporation

Business Tax Registration or file form Application for Business Registration (ABR)

See information at Minnesota Department of Revenue, Businesses or call 651-282-5225

Income Tax

Sole Proprietor

M1, Individual Income Tax Return April 15, or the 15th day of 4th month after the end of the tax year

Individual who is a partner or S corporation shareholder

M1, Individual Income Tax Return Same as above

Partnership

M3, Partnership Return

Same as federal

M4, Corporation Franchise Tax Return

C Corporation

Same as federal

M11, Insurance Premium Tax Return for Property and Casualty Companies

March 1

S corporation

M8, S Corporation Return

Same as federal

Sales and Use Tax (sales tax returns must be filed using the e-Services Minnesota electronic filing system)

Filing of Sales and Use Tax return must be done online through MN e-Services system

Due date is based on filing cycle assigned by Department of Revenue – see instructions.

Organization that makes retail sales or provides taxable services

Business that purchases taxable property for use in Minnesota without paying sales tax Consumer who purchases taxable property without paying sales tax Sole proprietor or individual who is a partner or S corporation shareholder

Same as above

Included on Sales and Use Tax Return

UT1, Individual Use Tax Return April 15th of following year

Estimated Tax

-Pay through MN e-Services - See Make a Payment for other types of payment methods

15th day of 4th, 6th, and 9th months of tax year; and 15th day of 1st month after end of tax year

Corporation

Payment Voucher System

15th day of 3rd, 6th, 9th, and 12th months of tax year

*Note that generally speaking, single-member LLCs may choose to be taxed as a sole proprietorship or a corporation. LLCs with at least two members may choose to be taxed either as a corporation or as a partnership. For Minnesota unemployment insurance purposes, all LLCs are treated as corporations.

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