Chapter 290 — Disclosure of Contents of Tax Returns

15.001 Application of Laws 2005, Chapter 56, Terminology Changes When state agencies are renamed or reorganized, references to the old agency names in law automatically apply to the new … 270B.131 Disclosure of Contents of Tax Returns Tax preparers cannot share details from your tax return without your written permission. Exceptions exist for using … 270C.131 Former statute that has been repealed and is no longer in effect. 270C.20 Destruction of Returns The Commissioner of Revenue can destroy old tax returns and related documents after a period the commissioner decides. … 290.001 Former statute that has been repealed and is no longer in effect. 290.01 Definitions Defines key terms used throughout Minnesota's income tax law, including who counts as a person, corporation, resident, … 290.011 Former statute that has been repealed and is no longer in effect. 290.0111 Former statute that has been repealed and is no longer in effect. 290.012 Former statute that has been repealed and is no longer in effect. 290.0121 Dependent Exemption Allows taxpayers to claim a $4,250 exemption for each dependent on their Minnesota income tax return. The exemption … 290.0122 Itemized Deductions Lists the itemized deductions allowed on Minnesota income taxes, including deductions for property taxes, charitable … 290.0123 Standard Deduction Sets the Minnesota standard deduction amounts. Married couples filing jointly get $27,650, heads of household get … 290.013 Former statute that has been repealed and is no longer in effect. 290.0131 Individuals, Estates, and Trusts; Additions to Federal Taxable Income or Federal Adjusted Gross Income Lists amounts that individuals, estates, and trusts must add back to their federal income when calculating Minnesota net … 290.0132 Individuals, Estates, and Trusts; Subtractions From Federal Taxable Income or Federal Adjusted Gross Income Lists amounts that individuals, estates, and trusts can subtract from their federal income when calculating Minnesota … 290.0133 Corporations; Additions to Federal Taxable Income Lists amounts that corporations must add back to their federal taxable income when calculating Minnesota net income. … 290.0134 Corporations; Subtractions From Federal Taxable Income Lists amounts that corporations can subtract from their federal taxable income when calculating Minnesota net income. … 290.0135 Basis Modifications Affecting Gain or Loss on Disposition of Property Sets rules for adjusting the tax basis of property when calculating gains or losses for Minnesota purposes. Generally, … 290.0136 Certain Preferred Stock Losses Requires taxpayers to treat losses from the sale of certain preferred stock as capital losses for Minnesota tax … 290.0137 Accelerated Recognition of Certain Installment Sale Gains When a nonresident sells an interest in an S corporation or partnership that operated in Minnesota using an installment … 290.014 Jurisdiction to Tax in General Minnesota taxes all of a resident individual's income. Nonresidents are taxed only on income from Minnesota sources, … 290.015 Minimum Contacts Required for Jurisdiction to Tax Trade or Business Defines when an out-of-state business has enough contact with Minnesota to be subject to state income tax. A business … 290.02 Franchise Tax on Corporations Measured by Net Income Every corporation doing business in Minnesota must pay an annual franchise tax based on its net income from Minnesota … 290.03 Income Tax; Imposition, Classes of Taxpayers Minnesota imposes an annual income tax on individuals (both residents and nonresidents), estates of people who die in or … 290.031 Former statute that has been repealed and is no longer in effect. 290.032 Lump-sum Distribution Tax Imposes a special tax on lump-sum distributions from retirement plans for Minnesota residents. The tax is calculated … 290.033 Net Investment Income Tax Imposes an additional 1% tax on net investment income over $1,000,000 for individuals, estates, and trusts. Investment … 290.04 Liability for Tax Corporate franchise tax liability begins on the first day of the taxable year in which the corporation does business in … 290.05 Exempt Individuals, Organizations, Estates, Trusts Certain entities do not have to pay Minnesota income tax, including iron ore mining operations already paying occupation … 290.06 Rates of Tax; Credits Sets Minnesota's income tax rates for individuals, married couples, and corporations. Individuals pay between 5.35% and … 290.0601 Former statute that has been repealed and is no longer in effect. 290.0602 Former statute that has been repealed and is no longer in effect. 290.0603 Former statute that has been repealed and is no longer in effect. 290.0604 Former statute that has been repealed and is no longer in effect. 290.0605 Former statute that has been repealed and is no longer in effect. 290.0606 Former statute that has been repealed and is no longer in effect. 290.0607 Former statute that has been repealed and is no longer in effect. 290.0608 Former statute that has been repealed and is no longer in effect. 290.0609 Former statute that has been repealed and is no longer in effect. 290.061 Former statute that has been repealed and is no longer in effect. 290.0611 Former statute that has been repealed and is no longer in effect. 290.0612 Former statute that has been repealed and is no longer in effect. 290.0613 Former statute that has been repealed and is no longer in effect. 290.0614 Former statute that has been repealed and is no longer in effect. 290.0615 Former statute that has been repealed and is no longer in effect. 290.0616 Former statute that has been repealed and is no longer in effect. 290.0617 Former statute that has been repealed and is no longer in effect. 290.0618 Former statute that has been repealed and is no longer in effect. 290.062 Former statute that has been repealed and is no longer in effect. 290.063 Former statute that has been repealed and is no longer in effect. 290.064 Former statute that has been repealed and is no longer in effect. 290.065 Former statute that has been repealed and is no longer in effect. 290.066 Former statute that has been repealed and is no longer in effect. 290.0661 Minnesota Child Tax Credit Provides a refundable $1,750 per child tax credit for Minnesota residents with qualifying children under age 18. The … 290.067 Dependent Care Credit Provides a Minnesota tax credit for child care and dependent care expenses. The credit is based on federal dependent … 290.0671 Minnesota Working Family Credit Creates the Minnesota Working Family Credit, a tax credit for low- and moderate-income workers. The credit equals 4% of … 290.0672 Long-term Care Insurance Credit Provides a Minnesota tax credit of 25% of long-term care insurance premiums, up to $100 per person or $200 for married … 290.0673 Former statute that has been repealed and is no longer in effect. 290.0674 Minnesota Education Credit Provides a Minnesota tax credit equal to 75% of education expenses for children in kindergarten through 12th grade, … 290.0675 Marriage Penalty Credit Provides a tax credit for married couples filing jointly to reduce the extra tax they pay compared to what they would … 290.0676 Former statute that has been repealed and is no longer in effect. 290.0677 Military Service Credits Provides tax credits for military service members. Active duty personnel serving in combat zones or hazardous duty areas … 290.0678 Former statute that has been repealed and is no longer in effect. 290.0679 Former statute that has been repealed and is no longer in effect. 290.068 Credit for Increasing Research Activities Provides a tax credit for businesses that increase spending on research activities in Minnesota. The credit is 10% of … 290.0681 Credit for Historic Structure Rehabilitation Provides a state tax credit for rehabilitating certified historic structures in Minnesota, equal to up to 100% of the … 290.0682 Student Loan Credit Provides a tax credit for Minnesota residents making payments on student loans from undergraduate or graduate degree … 290.0683 Minnesota Housing Tax Credit Provides a tax credit equal to 85% of contributions between $1,000 and $2,000,000 to the Minnesota Housing Tax Credit … 290.0684 Section 529 Plan Credit Provides a tax credit for Minnesota residents who contribute to 529 college savings plans. The credit equals 50% of … 290.0685 Credit for Parents of Stillborn Children Provides a refundable $2,000 tax credit for parents who experience a stillbirth, available in the tax year the … 290.0686 Credit for Attaining Master's Degree in Teacher's Licensure Field Provides a tax credit of up to $2,500 for licensed Minnesota teachers who complete a master's degree in a core content … 290.0688 Credit for Sustainable Aviation Fuel Provides a refundable tax credit for selling sustainable aviation fuel used in aircraft departing from Minnesota … 290.069 Former statute that has been repealed and is no longer in effect. 290.0691 Former statute that has been repealed and is no longer in effect. 290.0692 Small Business Investment Credit Provides a refundable tax credit for investments in qualified small businesses, up to $250,000 for married couples … 290.0693 Renter's Credit Provides a refundable tax credit for Minnesota renters based on household income and rent paid. The credit helps … 290.0694 Credit for Sales of Manufactured Home Parks to Cooperatives Provides a tax credit equal to 5% of the sale price when an owner sells a manufactured home park to a cooperative, … 290.0695 Short Line Railroad Infrastructure Modernization Credit Provides a tax credit equal to 50% of qualified expenditures for maintaining, reconstructing, or replacing railroad … 290.07 Net Income; Computation, Accounting Period Sets rules for how taxpayers calculate their income for Minnesota tax purposes, including which accounting period and … 290.071 Former statute that has been repealed and is no longer in effect. 290.072 Former statute that has been repealed and is no longer in effect. 290.073 Former statute that has been repealed and is no longer in effect. 290.074 Former statute that has been repealed and is no longer in effect. 290.075 Former statute that has been repealed and is no longer in effect. 290.076 Former statute that has been repealed and is no longer in effect. 290.077 Former statute that has been repealed and is no longer in effect. 290.078 Former statute that has been repealed and is no longer in effect. 290.0781 Former statute that has been repealed and is no longer in effect. 290.079 Former statute that has been repealed and is no longer in effect. 290.08 Former statute that has been repealed and is no longer in effect. 290.0801 Former statute that has been repealed and is no longer in effect. 290.0802 Subtraction for the Elderly and Disabled Provides a subtraction from income for qualified elderly and disabled individuals when calculating Minnesota income tax. … 290.081 Income of Nonresidents, Reciprocity Allows workers who live in a neighboring state (mainly Wisconsin) to be exempt from Minnesota income tax on wages earned … 290.082 Former statute that has been repealed and is no longer in effect. 290.085 Former statute that has been repealed and is no longer in effect. 290.086 Former statute that has been repealed and is no longer in effect. 290.087 Former statute that has been repealed and is no longer in effect. 290.088 Former statute that has been repealed and is no longer in effect. 290.089 Former statute that has been repealed and is no longer in effect. 290.09 Former statute that has been repealed and is no longer in effect. 290.091 Alternative Minimum Tax on Preference Items Imposes Minnesota's alternative minimum tax (AMT) at a rate of 6.75% on individuals, estates, and trusts who use certain … 290.092 Former statute that has been repealed and is no longer in effect. 290.0921 Corporate Alternative Minimum Tax After 1989 Imposes a corporate alternative minimum tax (AMT) of 5.8% on Minnesota alternative minimum taxable income when it … 290.0922 Minimum Fee; Corporations; Partnerships Imposes a minimum fee on corporations, S corporations, and partnerships based on their combined Minnesota property, … 290.093 Tax Computation for Mutual Savings Banks Conducting Life Insurance Business Mutual savings banks that also conduct life insurance business must calculate their corporate tax by excluding income … 290.095 Operating Loss Deduction Allows corporations to carry forward net operating losses to offset taxable income in future years, up to 15 years after … 290.10 Nondeductible Items Expenses, interest, and taxes connected with producing income that is not subject to Minnesota income tax cannot be … 290.101 Former statute that has been repealed and is no longer in effect. 290.11 Former statute that has been repealed and is no longer in effect. 290.12 Former statute that has been repealed and is no longer in effect. 290.13 Former statute that has been repealed and is no longer in effect. 290.131 Former statute that has been repealed and is no longer in effect. 290.132 Former statute that has been repealed and is no longer in effect. 290.133 Former statute that has been repealed and is no longer in effect. 290.134 Former statute that has been repealed and is no longer in effect. 290.135 Former statute that has been repealed and is no longer in effect. 290.136 Former statute that has been repealed and is no longer in effect. 290.137 Former statute that has been repealed and is no longer in effect. 290.138 Former statute that has been repealed and is no longer in effect. 290.139 Former statute that has been repealed and is no longer in effect. 290.14 Former statute that has been repealed and is no longer in effect. 290.15 Former statute that has been repealed and is no longer in effect. 290.16 Former statute that has been repealed and is no longer in effect. 290.165 Former statute that has been repealed and is no longer in effect. 290.17 Gross Income, Allocation to State Determines how income is assigned to Minnesota for tax purposes. Wages are assigned to the state where the work is … 290.171 Former statute that has been repealed and is no longer in effect. 290.172 Commissioner of Revenue The Commissioner of Revenue represents Minnesota on the Multistate Tax Commission. The commissioner can designate an … 290.173 Former statute that has been repealed and is no longer in effect. 290.174 Former statute that has been repealed and is no longer in effect. 290.175 Former statute that has been repealed and is no longer in effect. 290.18 Former statute that has been repealed and is no longer in effect. 290.19 Former statute that has been repealed and is no longer in effect. 290.191 Apportionment of Net Income Sets the formula for dividing a multistate business's income between Minnesota and other states. Since 2014, … 290.20 Net Income; Allocation to State If the standard apportionment formula does not fairly reflect a taxpayer's income from Minnesota, the taxpayer can … 290.21 Deductions Allowed to Corporations Allows corporations to deduct a portion of dividends received from other corporations. The deduction is 50% for … 290.22 Estates and Trusts, Imposition of Tax Estates and trusts are taxed using the same individual income tax rates. The tax applies to income accumulated in trust, … 290.23 Former statute that has been repealed and is no longer in effect. 290.24 Former statute that has been repealed and is no longer in effect. 290.25 Former statute that has been repealed and is no longer in effect. 290.26 Exemption for Individual Retirement Account Former statute related to individual retirement account exemptions that has been largely repealed and is no longer in … 290.27 Former statute that has been repealed and is no longer in effect. 290.28 Former statute that has been repealed and is no longer in effect. 290.281 Common Trust Fund A common trust fund (a pooled investment fund maintained by a bank for trust accounts) is not subject to Minnesota … 290.29 Former statute that has been repealed and is no longer in effect. 290.30 Fiduciaries, Duty to Pay Tax When someone acts as a fiduciary (like a guardian, trustee, or receiver) for a taxpayer, the fiduciary takes on the … 290.31 Partnerships; Individual Liability of Partners Partnerships do not pay Minnesota income tax themselves, though they must pay the minimum fee. Instead, each partner is … 290.311 Partnership Gross Income Each partner must apply Minnesota income tax modifications (additions and subtractions) based on their share of … 290.32 Taxes for Part of Year, Computation When a taxpayer files a return for less than a full year (such as when changing accounting periods), the tax is … 290.33 Former statute that has been repealed and is no longer in effect. 290.34 Corporations, Special Provisions Gives the Commissioner of Revenue authority to adjust a corporation's income when related companies do business in ways … 290.35 Former statute that has been repealed and is no longer in effect. 290.36 Investment Companies; Report of Net Income; Computation of Amount of Income Allocable to State Investment companies registered under the federal Investment Company Act calculate their Minnesota taxable income by … 290.361 Former statute that has been repealed and is no longer in effect. 290.362 Former statute that has been repealed and is no longer in effect. 290.363 Former statute that has been repealed and is no longer in effect. 290.37 Former statute that has been repealed and is no longer in effect. 290.371 Notice of Business Activities Report Corporations that obtain business from Minnesota but do not have a certificate of authority to do business in the state … 290.38 Former statute that has been repealed and is no longer in effect. 290.39 Former statute that has been repealed and is no longer in effect. 290.391 Former statute that has been repealed and is no longer in effect. 290.40 Former statute that has been repealed and is no longer in effect. 290.41 Former statute that has been repealed and is no longer in effect. 290.42 Former statute that has been repealed and is no longer in effect. 290.43 Former statute that has been repealed and is no longer in effect. 290.431 Nongame Wildlife Checkoff Allows individuals to donate $1 or more to the nongame wildlife management account by checking a box on their Minnesota … 290.432 Corporate Nongame Wildlife Checkoff Allows corporations to donate $1 or more to the nongame wildlife management account by checking a box on their Minnesota … 290.433 Easy Enrollment Health Insurance Outreach Program Checkoff Allows individuals filing a Minnesota income tax return to check a box giving permission for the state to share their … 290.44 Former statute that has been repealed and is no longer in effect. 290.45 Former statute that has been repealed and is no longer in effect. 290.46 Former statute that has been repealed and is no longer in effect. 290.47 Former statute that has been repealed and is no longer in effect. 290.48 Large Amounts of Cash; Presumption of Jeopardy When someone possesses $10,000 or more in cash and does not claim it as income or file the required federal cash … 290.49 Former statute that has been repealed and is no longer in effect. 290.491 Tax on Gain; Discharge in Bankruptcy Tax owed on gains from the forced sale of farm property through foreclosure can be discharged in bankruptcy. Gains from … 290.50 Former statute that has been repealed and is no longer in effect. 290.501 Former statute that has been repealed and is no longer in effect. 290.51 Former statute that has been repealed and is no longer in effect. 290.52 Former statute that has been repealed and is no longer in effect. 290.521 Former statute that has been repealed and is no longer in effect. 290.522 Former statute that has been repealed and is no longer in effect. 290.523 Former statute that has been repealed and is no longer in effect. 290.53 Former statute that has been repealed and is no longer in effect. 290.531 Former statute that has been repealed and is no longer in effect. 290.54 Former statute that has been repealed and is no longer in effect. 290.56 Former statute that has been repealed and is no longer in effect. 290.57 Former statute that has been repealed and is no longer in effect. 290.58 Former statute that has been repealed and is no longer in effect. 290.59 Former statute that has been repealed and is no longer in effect. 290.60 Former statute that has been repealed and is no longer in effect. 290.61 Former statute that has been repealed and is no longer in effect. 290.611 Former statute that has been repealed and is no longer in effect. 290.612 Former statute that has been repealed and is no longer in effect. 290.62 Distribution of Revenues All revenue collected from Minnesota income taxes, penalties, and interest goes into the state general fund. Refunds of … 290.621 Former statute that has been repealed and is no longer in effect. 290.623 Former statute that has been repealed and is no longer in effect. 290.65 Former statute that has been repealed and is no longer in effect. 290.66 Former statute that has been repealed and is no longer in effect. 290.67 Former statute that has been repealed and is no longer in effect. 290.68 Former statute that has been repealed and is no longer in effect. 290.69 Former statute that has been repealed and is no longer in effect. 290.91 Former statute that has been repealed and is no longer in effect. 290.92 Tax Withheld at Source Upon Wages; Other Payments Requires employers to withhold Minnesota income tax from employees' wages. Defines who counts as an employer and … 290.9201 Tax on Nonresident Entertainers Nonresident entertainers, including musicians, athletes, comedians, dancers, and public speakers, who perform in … 290.921 Former statute that has been repealed and is no longer in effect. 290.922 Former statute that has been repealed and is no longer in effect. 290.923 Tax Withheld on Royalties Upon Ore Anyone who pays royalties for the right to mine ore in Minnesota must withhold income tax from those payments and remit … 290.93 Former statute that has been repealed and is no longer in effect. 290.931 Former statute that has been repealed and is no longer in effect. 290.932 Former statute that has been repealed and is no longer in effect. 290.933 Former statute that has been repealed and is no longer in effect. 290.934 Former statute that has been repealed and is no longer in effect. 290.935 Former statute that has been repealed and is no longer in effect. 290.936 Former statute that has been repealed and is no longer in effect. 290.94 Former statute that has been repealed and is no longer in effect. 290.95 Former statute that has been repealed and is no longer in effect. 290.96 Former statute that has been repealed and is no longer in effect. 290.97 Former statute that has been repealed and is no longer in effect. 290.9705 Surety Deposits Required for Construction Contracts When hiring an out-of-state contractor for construction work in Minnesota worth more than $50,000, the person making … 290.971 Former statute that has been repealed and is no longer in effect. 290.972 Former statute that has been repealed and is no longer in effect. 290.9725 S Corporation An S corporation (a corporation with a valid federal S election) is generally not subject to Minnesota corporate income … 290.9726 Corporation Taxable Income Taxed to Shareholders S corporation income is taxed to the individual shareholders, not to the corporation. Each item of income, gain, loss, … 290.9727 Tax on Certain Built-in Gains An S corporation that converted from a C corporation may owe tax on built-in gains -- appreciation in assets that … 290.9728 Tax on Capital Gains An S corporation that elected S status before 1987 may owe a corporate-level tax on net capital gains exceeding $25,000 … 290.9729 Tax on Passive Investment Income An S corporation with accumulated earnings from when it was a C corporation may owe a corporate-level tax if more than … 290.973 Former statute that has been repealed and is no longer in effect. 290.974 Former statute that has been repealed and is no longer in effect. 290.9741 Election by Remic A Real Estate Mortgage Investment Conduit (REMIC) -- an entity that holds a pool of mortgages -- is not subject to … 290.9742 Remic Income Taxable to Holders of Interests Income from a REMIC (Real Estate Mortgage Investment Conduit) is taxed to the people who hold interests in the REMIC, … 290.9743 Former statute that has been repealed and is no longer in effect. 290.9744 Former statute that has been repealed and is no longer in effect. 290.975 Former statute that has been repealed and is no longer in effect. 290.981 Former statute that has been repealed and is no longer in effect. 290.982 Former statute that has been repealed and is no longer in effect. 290.983 Former statute that has been repealed and is no longer in effect. 290.984 Former statute that has been repealed and is no longer in effect. 290.985 Former statute that has been repealed and is no longer in effect. 290.986 Former statute that has been repealed and is no longer in effect. 290.987 Former statute that has been repealed and is no longer in effect. 290.988 Former statute that has been repealed and is no longer in effect. 290.989 Former statute that has been repealed and is no longer in effect. 290.99 Former statute that has been repealed and is no longer in effect. 290.991 Former statute that has been repealed and is no longer in effect. 290.992 Former statute that has been repealed and is no longer in effect. 290.993 Special Limited Adjustment For tax years 2018 only, taxpayers could choose to itemize deductions for Minnesota purposes even if they took the …