Minnesota Department of Revenue · [email protected]

June 4, 2024 at 3:33 PM

C corporation Quarterly Estimated Payment Due June 17

C corporation Quarterly Estimated Payment Due June 17 Reminder C corporations must make quarterly estimated tax payments if their Corporation Franchise Tax liability exceeds $500 for the year. C corporation estimated payments are due: March 15 June 15 September 15 December 15 How ca…

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  Minnesota Department of Revenue · [email protected]

June 4, 2024 at 3:32 PM

Fiduciary Estimated Payments Due June 17

Fiduciary Estimated Payments Due June 17 Reminder A fiduciary must make quarterly estimated tax payments if the sum of these estimated taxes, less any credits allowed against the tax, is $500 or more: Fiduciary income tax Composite income tax Quarterly estimated payments are due for…

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  Minnesota Department of Revenue · [email protected]

June 4, 2024 at 3:31 PM

Partnership and S Corporation Estimated Payments Due June 17

Partnership and S Corporation Estimated Payments Due June 17 Reminder A partnership or S corporation must make quarterly estimated tax payments if the sum of these estimated taxes, less any credits allowed against the tax, is $500 or more: Minimum fee Nonresident withholding Composit…

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  Minnesota Department of Revenue · [email protected]

May 29, 2024 at 6:54 PM

Military Appreciation Month – Watch Our Military Tax Tips Video

Military Appreciation Month ? Watch Our Military Tax Tips Video If you are a U.S. military member or veteran, you may qualify for special tax benefits. These benefits may save you money and help reduce your Minnesota tax owed. For details, check out the Minnesota Department of Revenue…

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  Minnesota Department of Revenue · [email protected]

May 29, 2024 at 6:04 PM

2024 legislative session update

2024 legislative session update The Minnesota Department of Revenue is reviewing legislation recently signed into law and will begin working to update the state tax filing systems to reflect changes made to Minnesota?s tax laws. More information will be posted on our Tax Law Changes we…

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  Minnesota Department of Revenue · [email protected]

May 23, 2024 at 1:27 PM

Military Appreciation Month – Property Tax Exclusion for Veterans with Disabilities

Military Appreciation Month ? Property Tax Exclusion for Veterans with Disabilities You may qualify for a property tax exclusion on your home. The exclusion may lower the amount of property taxes you pay. This program is administered by Minnesota counties. Do I qualify for this exclus…

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  Minnesota Department of Revenue · [email protected]

May 21, 2024 at 5:07 PM

Register for our 2024 in-person employment tax seminars

Register for our 2024 in-person employment tax seminars Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representatives with experts from these a…

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  Minnesota Department of Revenue · [email protected]

May 16, 2024 at 3:07 PM

Military Appreciation Month – Claim a Subtraction for Military Pensions

Military Appreciation Month ? Claim a Subtraction for Military Pensions You may be able to subtract certain military retirement pay, including pensions, from your Minnesota taxable income and alternative minimum taxable income. Do I qualify? You may qualify if your retirement pay is t…

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  Minnesota Department of Revenue · [email protected]

May 16, 2024 at 1:17 PM

Tax Professional Tip #20 – 2024 filing season update

Tax Professional Tip #20 ? 2024 filing season update Congratulations on completing another successful filing season! As professional preparers, you filed almost 55% of all returns received by the Department and refunds grew substantially due to the new Child Tax Credit. ? Filing S…

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  Minnesota Department of Revenue · [email protected]

May 13, 2024 at 2:07 PM

Distributor Cigarette Tax and Tobacco Tax Returns Due May 20

Distributor Cigarette Tax and Tobacco Tax Returns Due May 20 Distributor Returns due May 20 Your April return and payment for Cigarette Tax or Tobacco Tax are due May 20.? Remember that you can file your return and pay any tax due electronically through e-Services. Requirements for Ju…

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  Minnesota Department of Revenue · [email protected]

May 9, 2024 at 3:05 PM

Tax Professional Tip #19 – What to do when a letter arrives

Tax Professional Tip #19 ? What to do when a letter arrives Getting a letter from the Minnesota Department of Revenue can be stressful. If your clients receive a letter from us: Read the entire letter carefully. Most letters deal with a specific issue and provide instructions on wha…

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  Minnesota Department of Revenue · [email protected]

May 9, 2024 at 1:21 PM

Military Appreciation Month – Claim your combat zone tax credit

Military Appreciation Month ? Claim your combat zone tax credit The Minnesota Department of Revenue reminds Minnesota service members to take advantage of the refundable Credit for Military Service in a Combat Zone. The 2020 credit expires for most qualifying service members on Octobe…

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  Minnesota Department of Revenue · [email protected]

May 6, 2024 at 1:57 PM

Openings available for Pass-Through Entity Tax webinars

Openings available for Pass-Through Entity Tax webinars The Minnesota Department of Revenue is offering an updated webinar on Pass-Through Entity Tax (PTE) for business owners and tax professionals. What does this webinar cover? This webinar will cover the PTE election and related top…

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  Minnesota Department of Revenue · [email protected]

May 2, 2024 at 4:07 PM

Tax Professional Tip #18 – Filing amended returns

Tax Professional Tip #18 ? Filing amended returns You must file an amended Minnesota return on Form M1X if any of these apply: You or your client discover an error on their Minnesota return The IRS made changes to your client?s federal return You amend your client?s federal return W…

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  Minnesota Department of Revenue · [email protected]

May 2, 2024 at 1:33 PM

May is National Military Appreciation Month!

May is National Military Appreciation Month! In honor of National Military Appreciation Month, the Minnesota Department of Revenue reminds military members and their families about Minnesota?s valuable military-related tax benefits. We will send weekly messages throughout the month to…

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  Minnesota Department of Revenue · [email protected]

April 26, 2024 at 3:03 PM

Notification of Local Sales and Use Tax Changes for Third Quarter 2024

Notification of Local Sales and Use Tax Changes for Third Quarter 2024 Beginning July 1, 2024, the following new local taxes are administered by the Department of Revenue:   Beltrami County Sales and Use Tax 0.625% Beginning July 1, 2024, the following special local tax is now admin…

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  Minnesota Department of Revenue · [email protected]

April 25, 2024 at 2:59 PM

Tax Professional Tip #17 – Missing returns and Commissioner Filed Returns

Tax Professional Tip #17 ? Missing returns and Commissioner Filed Returns If your client gets a letter from the Minnesota Department of Revenue requesting a missing tax return, they have 30 days to respond in one of three ways: File the missing return Prove they already filed the ret…

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  Minnesota Department of Revenue · [email protected]

April 18, 2024 at 2:42 PM

Tax Professional Tip #16 – Understanding income tax penalties and interest rates

Tax Professional Tip #16 ? Understanding income tax penalties and interest rates The Minnesota Department of Revenue assesses penalties and interest on income tax returns. It?s important to understand these penalties and when we may impose them.? Type of Penalty When It Applies …

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  Minnesota Department of Revenue · [email protected]

April 17, 2024 at 4:51 PM

We still have room - register for our 2024 in-person employment tax seminars

We still have room - register for our 2024 in-person employment tax seminars Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representatives with…

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  Minnesota Department of Revenue · [email protected]

April 11, 2024 at 2:06 PM

Distributor Cigarette Tax and Tobacco Tax Returns Due April 18

Distributor Cigarette Tax and Tobacco Tax Returns Due April 18 Distributor Returns Due April 18 Your March return and payment for Cigarette Tax or Tobacco Tax are due April 18. You can file your return and pay any tax due electronically through e-Services. Questions? Contact us at cig…

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  Minnesota Department of Revenue · [email protected]

April 11, 2024 at 1:13 PM

Tax Professional Tip #15 – Last minute suggestions

Tax Professional Tip #15 ? Last minute suggestions The April 15 filing deadline is fast approaching. In Minnesota, there is no filing extension form for returns. The late filing penalty will not apply for returns filed by October 15, 2024. The late payment penalty and interest will ap…

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  Minnesota Department of Revenue · [email protected]

April 10, 2024 at 7:12 PM

We still have openings for our Withholding Tax Employer Responsibilities webinar next week

We still have openings for our Withholding Tax Employer Responsibilities webinar next week Want to learn more about Minnesota Withholding Tax and your responsibilities as an employer? The Minnesota Department of?Revenue is holding free webinars designed?for business owners, tax and…

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  Minnesota Department of Revenue · [email protected]

April 10, 2024 at 6:02 PM

Sales and Use Tax Webinars!

Sales and Use Tax Webinars! The Minnesota Department of Revenue is offering the following webinars in April and May. Introduction to Sales and Use Tax Wednesday, April 17, 2024, 9 to 11:30 a.m. Central Time This course is an introduction to sales and use taxes in Minnesota. The purpose o…

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  Minnesota Department of Revenue · [email protected]

April 8, 2024 at 6:35 PM

Corporate Net Operating Loss Law Change

Corporate Net Operating Loss Law Change Legislation signed into law on April 8, 2024, retroactively changed the effective date to reduce the Net Operating Loss (NOL) deduction limitation. The Corporate NOL deduction limitations are: For tax years beginning after December 31, 2017, an…

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  Minnesota Department of Revenue · [email protected]

April 5, 2024 at 3:17 PM

Soo Line Railroad Court Case

Soo Line Railroad Court Case On February 7, 2024, the Minnesota Tax Court determined in Soo Line Railroad Company v. Commissioner of Revenue that, beginning in tax year 2013, the Minnesota railroad track maintenance subtraction can be used for expenses that were disallowed as a deduct…

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  Minnesota Department of Revenue · [email protected]

April 5, 2024 at 1:59 PM

Minnesota first quarter withholding tax returns due April 30, 2024

Minnesota first quarter withholding tax returns due April 30, 2024 Withholding Tax Quarterly Return and Deposit Due Dates The first quarter (January - March 2024) Minnesota Withholding Tax return is due April 30. Deposits were due according to your semiweekly or monthly deposit sch…

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  Minnesota Department of Revenue · [email protected]

April 4, 2024 at 7:41 PM

– Tax Professional Tip #14 – Qualified Retirement Benefit Subtraction

? Tax Professional Tip #14 ? Qualified Retirement Benefit Subtraction We recently updated our page for the public pension subtraction, also known as the qualified retirement benefit subtraction. We added: More detail on pension plans that may qualify More Information on determining b…

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  Minnesota Department of Revenue · [email protected]

April 3, 2024 at 4:12 PM

Register for our 2024 in-person employment tax seminars

Register for our 2024 in-person employment tax seminars Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representatives with experts from these a…

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  Minnesota Department of Revenue · [email protected]

March 28, 2024 at 2:17 PM

Tax Professional Tip #13 – Preparer data breaches

Tax Professional Tip #13 ? Preparer data breaches We are all responsible for protecting customer data from theft. To provide guidance on data security, the IRS updated the Identity Theft for Tax Professionals webpage. For details, see our ?Protecting You and Your Clients from Fraud? a…

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  Minnesota Department of Revenue · [email protected]

March 26, 2024 at 5:23 PM

The Minnesota Department of Revenue has tips for those who still need to file their taxes

The Minnesota Department of Revenue has tips for those who still need to file their taxes More than 1.4 million taxpayers have already filed their taxes and over 970,000 refunds have already been sent out. The Minnesota Department of Revenue has tips for those who still need t…

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  Minnesota Department of Revenue · [email protected]

March 22, 2024 at 2:25 PM

Tax Professional Tip #12 – Retirees and senior citizens

Tax Professional Tip #12 ? Retirees and senior citizens If your client is 65 or older, their income and lifestyle changes may affect their Minnesota income taxes. Check out our Senior Citizens page for information on part-year residents, Social Security and pension income, and tax rel…

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  Minnesota Department of Revenue · [email protected]

March 21, 2024 at 1:56 PM

Online Filing Open for Homestead Credit Refunds

Online Filing Open for Homestead Credit Refunds The Minnesota Department of Revenue has reopened the online filing system for Form M1PR, Homestead Credit Refund (for Homeowners) and Renter?s Property Tax Refund. Your clients can again use our free system to electronically file if they…

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  Minnesota Department of Revenue · [email protected]

March 19, 2024 at 3:32 PM

Sales and Use Tax Webinars!

Sales and Use Tax Webinars! The Minnesota Department of Revenue is offering the following webinars in April and May. Sales and Use Tax for Local Governments Wednesday, April 10, 2024, 1:30 to 3:30 p.m. Central Time This webinar is designed for local government administration. We will pro…

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  Minnesota Department of Revenue · [email protected]

March 14, 2024 at 2:54 PM

Tax Professional Tip #11 – Education-related credits and subtractions

Tax Professional Tip #11 ? Education-related credits and subtractions Minnesota has many education-related tax credits and subtractions available. Here is a comprehensive list of tax savings your clients may qualify for. Tax benefit name Description Tax form to claim it K-…

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  Minnesota Department of Revenue · [email protected]

March 11, 2024 at 2:06 PM

Distributor Cigarette Tax and Tobacco Tax Returns Due March 18

Distributor Cigarette Tax and Tobacco Tax Returns Due March 18 Distributor Returns Due March 18 Your February return and payment for Cigarette Tax or Tobacco Tax are due March 18. You can file your return and pay any tax due electronically through e-Services. Revised Forms for 2024 Sa…

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  Minnesota Department of Revenue · [email protected]

March 8, 2024 at 3:03 PM

Reminder: e-Services and other online services unavailable TODAY

Reminder: e-Services and other online services unavailable TODAY Regular deadlines for filing and paying taxes still apply. e-Services and other online services unavailable TODAY Due to scheduled maintenance, our e-Services system and other online services will be unavailable …

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  Minnesota Department of Revenue · [email protected]

March 7, 2024 at 5:42 PM

Tax Professional Tip #10 – Filing for deceased taxpayers

Tax Professional Tip #10 ? Filing for deceased taxpayers When a client or their family member passes away, it can change their tax filing situation and needs. The Minnesota Department of Revenue has valuable and comprehensive resources to help you file for deceased taxpayers. Take a m…

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  Minnesota Department of Revenue · [email protected]

March 5, 2024 at 7:56 PM

Verify your clients’ Direct Tax Rebate subtraction

Verify your clients? Direct Tax Rebate subtraction The Minnesota Department of Revenue has been receiving returns filed by tax professionals claiming the Direct Tax Rebate subtraction on Schedule M1M, Income Additions and Subtractions, when their clients did not qualify for or receive…

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  Minnesota Department of Revenue · [email protected]

March 4, 2024 at 5:44 PM

Register for our 2024 in-person employment tax seminars

Register for our 2024 in-person employment tax seminars Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representatives with experts from these a…

See More from Minnesota Department of Revenue

  Minnesota Department of Revenue · [email protected]

March 1, 2024 at 4:03 PM

Reminder: e-Services and other online services unavailable Friday, March 8

Reminder: e-Services and other online services unavailable Friday, March 8 Regular deadlines for filing and paying taxes still apply. e-Services and other online services unavailable Friday, March 8 Due to scheduled maintenance, our e-Services system and other online services …

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  Minnesota Department of Revenue · [email protected]

March 1, 2024 at 12:43 PM

C corporation Quarterly Estimated Payment Due March 15

C corporation Quarterly Estimated Payment Due March 15 Reminder C corporations must make quarterly estimated tax payments if their Corporation Franchise Tax liability exceeds $500 for the year. C corporation estimated payments are due: March 15 June 15 September 15 December 15 How c…

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  Minnesota Department of Revenue · [email protected]

March 1, 2024 at 12:42 PM

Partnership and S Corporation Returns Due March 15 for Calendar Filers

Partnership and S Corporation Returns Due March 15 for Calendar Filers Reminder 2023 tax returns for partnership and S corporation calendar year filers are due March 15, 2024. You must file a return even if you report no tax due. If you have already filed your return, please disregard…

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  Minnesota Department of Revenue · [email protected]

February 29, 2024 at 4:02 PM

Tax Professional Tip #9 – Returns for Tribal Members in Minnesota

Tax Professional Tip #9 ? Returns for Tribal Members in Minnesota There may be different rules to follow when preparing returns for members of Minnesota Indian tribes. Be aware of these differences so you can better serve your clients and prepare these returns accurately. Check out th…

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  Minnesota Department of Revenue · [email protected]

February 22, 2024 at 2:20 PM

Return Verification and Identity Verification Letters

Return Verification and Identity Verification Letters The Minnesota Department of Revenue takes extra steps to protect your clients? identity. If your client receives either of the following letters, ask them to complete the steps requested in the letter as soon as possible. Their tax…

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  Minnesota Department of Revenue · [email protected]

February 21, 2024 at 8:02 PM

Retail Delivery Fee

Retail Delivery Fee Starting July 1, 2024, there will be a Retail Delivery Fee of 50 cents that applies to certain transactions involving retail delivery in Minnesota. Visit our website:www.revenue.state.mn.us STAY CONNECTED: SUBSCRIBER SERV…

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  Minnesota Department of Revenue · [email protected]

February 21, 2024 at 6:31 PM

We still have openings for our Withholding Tax Employer Responsibilities webinar next week

We still have openings for our Withholding Tax Employer Responsibilities webinar next week Want to learn more about Minnesota Withholding Tax and your responsibilities as an employer? The Minnesota Department of?Revenue is holding free webinars designed?for business owners, tax and…

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  Minnesota Department of Revenue · [email protected]

February 21, 2024 at 4:24 PM

Openings still available for Pass-Through Entity Tax webinars

Openings still available for Pass-Through Entity Tax webinars The Minnesota Department of Revenue is offering an updated webinar on Pass-Through Entity Tax (PTE) for business owners and tax professionals. What does this webinar cover? This webinar will cover the PTE election and relat…

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  Minnesota Department of Revenue · [email protected]

February 16, 2024 at 5:25 PM

e-Services and other online services unavailable Friday, March 8

e-Services and other online services unavailable Friday, March 8 Regular deadlines for filing and paying taxes still apply. e-Services and other online services unavailable Friday, March 8 Due to scheduled maintenance, our e-Services system and other online services will be un…

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  Minnesota Department of Revenue · [email protected]

February 16, 2024 at 3:12 PM

Tax Professional Tip #7 – Tax Planning for your Clients

Tax Professional Tip #7 ? Tax Planning for your Clients Helping your clients plan for the next tax year is just as important as preparing their tax return for this year. Net Investment Tax Starting in 2024, Minnesota?s net investment tax takes effect. Net investment income exceeding $…

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  Minnesota Department of Revenue · [email protected]

February 15, 2024 at 5:07 PM

Department of Revenue will start reissuing over 128,000 expired one-time tax rebate checks next week

Department of Revenue will start reissuing over 128,000 expired one-time tax rebate checks next week The mailing of reissued checks should be completed by mid-March. Department of Revenue will start reissuing over 128,000 expired one-time tax rebate checks next week ST. PAUL, …

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