Title Minnesota Statutes, Minnesota Statutes

290.0131 INDIVIDUALS, ESTATES, AND TRUSTS; ADDITIONS TO FEDERAL TAXABLE INCOME OR FEDERAL ADJUSTED GROSS INCOME. § Subdivision 1.Definition; scope. (a) For the purposes of this section, "addition" means an amount that must be added to federal taxable income for a trust or an esta…

290.0132 INDIVIDUALS, ESTATES, AND TRUSTS; SUBTRACTIONS FROM FEDERAL TAXABLE INCOME OR FEDERAL ADJUSTED GROSS INCOME. § Subdivision 1.Definition; scope. (a) For the purposes of this section, "subtraction" means an amount that shall be subtracted from federal taxable income for a …

290.0133 CORPORATIONS; ADDITIONS TO FEDERAL TAXABLE INCOME. § Subdivision 1.Definition; scope. (a) For the purposes of this section, "addition" means an amount that must be added to federal taxable income in computing net income for the taxable year to which the amount relates. (…

290.0134 CORPORATIONS; SUBTRACTIONS FROM FEDERAL TAXABLE INCOME. § Subdivision 1.Definition; scope. (a) For the purposes of this section, "subtraction" means an amount that shall be subtracted from federal taxable income in computing net income for the taxable year to which the a…

290.0135 BASIS MODIFICATIONS AFFECTING GAIN OR LOSS ON DISPOSITION OF PROPERTY. (a) For individuals, estates, and trusts, the basis of property is its adjusted basis for federal income tax purposes except as set forth in paragraphs (e) and (f). For corporations, the basis of prop…

290.0136 CERTAIN PREFERRED STOCK LOSSES. A taxpayer must compute net income by treating losses from the sale or transfer of certain preferred stock, which the taxpayer treated as ordinary losses pursuant to Division A, title III, section 301 of Public Law 110-343, as capital loss…

290.0137 ACCELERATED RECOGNITION OF CERTAIN INSTALLMENT SALE GAINS. (a) In the case of a nonresident individual or a person who becomes a nonresident individual during the tax year, taxable net income shall include the amount realized upon a sale of the assets of, or any interest…

290.014 JURISDICTION TO TAX IN GENERAL. § Subdivision 1.Resident individuals. All net income of a resident individual is subject to tax under this chapter. § Subd. 2.Nonresident individuals. Except as provided in section 290.015, a nonresident individual is subject to the return …

290.015 MINIMUM CONTACTS REQUIRED FOR JURISDICTION TO TAX TRADE OR BUSINESS. § Subdivision 1.General rule. (a) Except as provided in subdivision 3, a person that conducts a trade or business that has a place of business in this state, regularly has employees or independent contra…

290.02 FRANCHISE TAX ON CORPORATIONS MEASURED BY NET INCOME. An annual franchise tax on the exercise of the corporate franchise to engage in contacts with this state that produce gross income attributable to sources within this state is imposed upon every corporation that so exer…

290.03 INCOME TAX; IMPOSITION, CLASSES OF TAXPAYERS. An annual tax for each taxable year, computed in the manner and at the rates hereinafter provided, is hereby imposed upon the taxable income for such year of the following classes of taxpayers: (1) Resident and nonresident indi…

290.032 LUMP-SUM DISTRIBUTION TAX. § Subdivision 1.Imposition. There is hereby imposed as an addition to the annual income tax for a taxable year of a taxpayer in the classes described in section 290.03 a tax with respect to any distribution received by such taxpayer that is trea…

290.033 NET INVESTMENT INCOME TAX. (a) For purposes of this section, "net investment income" has the meaning given in section 1411(c) of the Internal Revenue Code, excluding the net gain attributable to the disposition of property classified as class 2a under section 273.13, subd…

290.04 LIABILITY FOR TAX. § Subdivision 1.Accrual. The liability for the tax imposed by section 290.02 shall arise upon the first day of the taxable year upon which a domestic corporation exercises any of the privileges specified in section 290.02 or exists as a corporation, or o…

290.05 EXEMPT INDIVIDUALS, ORGANIZATIONS, ESTATES, TRUSTS. § Subdivision 1.Exempt entities. The following corporations, individuals, estates, trusts, and organizations shall be exempted from taxation under this chapter, provided that every such person or corporation claiming exem…

290.06 RATES OF TAX; CREDITS. § Subdivision 1.Computation, corporations. The franchise tax imposed upon corporations shall be computed by applying to their taxable income the rate of 9.8 percent. § Subd. 1a. [Repealed, 1990 c 604 art 2 s 21] § Subd. 2. [Repealed, Ex1971 c 31 art …

290.0661 MINNESOTA CHILD TAX CREDIT. § Subdivision 1.Definitions. For the purposes of this section, "qualifying child" has the meaning given in section 32(c) of the Internal Revenue Code, except: (1) excluding individuals who attained the age of 18 or greater in the taxable year;…

290.067 DEPENDENT CARE CREDIT. § Subdivision 1.Amount of credit. (a) A taxpayer may take as a credit against the tax due from the taxpayer and a spouse, if any, under this chapter an amount equal to the dependent care credit for which the taxpayer is eligible pursuant to the prov…

290.0671 MINNESOTA WORKING FAMILY CREDIT. § Subdivision 1.Credit allowed. (a) An individual who is a resident of Minnesota is allowed a credit against the tax imposed by this chapter equal to a percentage of earned income. To receive a credit, a taxpayer must be eligible for a cr…

290.0672 LONG-TERM CARE INSURANCE CREDIT. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Long-term care insurance" means a policy that: (1) qualifies for a deduction under section 213 of the Internal Revenue Code, …

290.0674 MINNESOTA EDUCATION CREDIT. § Subdivision 1.Credit allowed. An individual is allowed a credit against the tax imposed by this chapter in an amount equal to 75 percent of the amount paid for education-related expenses for a qualifying child in kindergarten through grade 1…

290.0675 MARRIAGE PENALTY CREDIT. § Subdivision 1.Definitions. (a) For purposes of this section the following terms have the meanings given. (b) "Earned income" means the sum of the following, to the extent included in Minnesota taxable income: (1) earned income as defined in sec…

290.0677 MILITARY SERVICE CREDITS. § Subdivision 1.Credit allowed; current military service. (a) An individual is allowed a credit against the tax due under this chapter equal to $120 for each month or portion thereof that the individual was in active military service in a design…

290.0679 MS 2024 [Repealed, 1Sp2025 c 13 art 1 s 20] NOTE: This section was repealed effective for assignments after December 31, 2025. Laws 2025, First Special Session chapter 13, article 1, section 20, the effective date.

290.068 CREDIT FOR INCREASING RESEARCH ACTIVITIES. § Subdivision 1.Credit allowed. A corporation, partners in a partnership, or shareholders in a corporation treated as an S corporation under section 290.9725 are allowed a credit against the tax computed under this chapter for th…

290.0681 CREDIT FOR HISTORIC STRUCTURE REHABILITATION. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Account" means the historic credit administration account in the special revenue fund. (c) "Office" means the St…

290.0682 STUDENT LOAN CREDIT. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Adjusted gross income" means federal adjusted gross income as defined in section 62 of the Internal Revenue Code. (c) "Earned income" has…

290.0683 MINNESOTA HOUSING TAX CREDIT. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Agency" means the Minnesota Housing Finance Agency. (c) "Minnesota housing tax credit contribution account" or "account" means t…

290.0684 SECTION 529 PLAN CREDIT. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given them. (b) "Contribution" means the amount contributed to one or more qualified accounts except that the amount: (1) is reduced by any withd…

290.0685 CREDIT FOR PARENTS OF STILLBORN CHILDREN. § Subdivision 1.Credit allowed. (a) An individual is allowed a credit against the tax imposed by this chapter equal to $2,000 for each birth for which a certificate of birth resulting in stillbirth has been issued under section 1…

290.0686 CREDIT FOR ATTAINING MASTER'S DEGREE IN TEACHER'S LICENSURE FIELD. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given them. (b) "Master's degree program" means a graduate-level program at an accredited university le…

290.0688 CREDIT FOR SUSTAINABLE AVIATION FUEL. § Subdivision 1.Definitions. For purposes of this section, the terms defined in section 41A.30, subdivision 1, have the meanings given, except that "commissioner" means the commissioner of revenue. § Subd. 2.Credit allowed. A qualify…

290.0692 SMALL BUSINESS INVESTMENT CREDIT. § Subdivision 1.Definitions. For purposes of this section, terms defined in section 116J.8737 have the meaning given in that section. § Subd. 2.Credit allowed. A qualified investor is allowed a credit against the tax imposed under this c…

290.0693 RENTER'S CREDIT. § Subdivision 1.Definitions. (a) For the purposes of this section, the following terms have the meanings given. (b) "Dependent" means any individual who is considered a dependent under sections 151 and 152 of the Internal Revenue Code and was claimed by …

290.0694 CREDIT FOR SALES OF MANUFACTURED HOME PARKS TO COOPERATIVES. § Subdivision 1.Definitions. (a) For purposes of this section, the following definitions have the meanings given. (b) "Qualified property" means a manufactured home park in Minnesota classified as 4c(5)(i) or 4…

290.0695 SHORT LINE RAILROAD INFRASTRUCTURE MODERNIZATION CREDIT. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given them. (b) "Credit certificate" means the certificate issued by the commissioner of transportation under sub…

290.07 NET INCOME; COMPUTATION, ACCOUNTING PERIOD. § Subdivision 1.Annual accounting period. Net income and taxable net income shall be computed upon the basis of the taxpayer's annual accounting period. If a taxpayer has no annual accounting period, or has one other than a fisca…

290.0802 SUBTRACTION FOR THE ELDERLY AND DISABLED. § Subdivision 1.Definitions. For purposes of this section, the following terms have the meanings given. (a) "Adjusted gross income" means federal adjusted gross income as used in section 22(d) of the Internal Revenue Code for the…

290.081 INCOME OF NONRESIDENTS, RECIPROCITY. (a) The compensation received for the performance of personal or professional services within this state by an individual whose residence, place of abode, and place customarily returned to at least once a month is in another state, sha…

290.091 ALTERNATIVE MINIMUM TAX ON PREFERENCE ITEMS. § Subdivision 1.Imposition of tax. In addition to all other taxes imposed by this chapter a tax is imposed on individuals, estates, and trusts equal to the excess (if any) of (a) an amount equal to 6.75 percent of alternative m…

290.0921 CORPORATE ALTERNATIVE MINIMUM TAX AFTER 1989. § Subdivision 1.Tax imposed. In addition to the taxes computed under this chapter without regard to this section, the franchise tax imposed on corporations includes a tax equal to the excess, if any, for the taxable year of: …

290.0922 MINIMUM FEE; CORPORATIONS; PARTNERSHIPS. § Subdivision 1.Imposition. (a) In addition to the tax imposed by this chapter without regard to this section, the franchise tax imposed on a corporation required to file under section 289A.08, subdivision 3, other than a corporat…

290.093 TAX COMPUTATION FOR MUTUAL SAVINGS BANKS CONDUCTING LIFE INSURANCE BUSINESS. Mutual savings banks as defined in section 594 of the Internal Revenue Code are subject to a tax computed on the taxable income determined without regard to any items of gross income or deduction…

290.095 OPERATING LOSS DEDUCTION. § Subdivision 1.Allowance of deduction. (a) There shall be allowed as a deduction for the taxable year the amount of any net operating loss deduction as provided in section 172 of the Internal Revenue Code, subject to the limitations and modifica…

290.10 NONDEDUCTIBLE ITEMS. § Subdivision 1.Expenses, interest, and taxes. In computing the net income of a taxpayer no deduction shall in any case be allowed for expenses, interest and taxes connected with or allocable against the production or receipt of all income not included…

290.17 GROSS INCOME, ALLOCATION TO STATE. § Subdivision 1.Scope of allocation rules. (a) The income of resident individuals is not subject to allocation outside this state. The allocation rules apply to nonresident individuals, estates, trusts, nonresident partners of partnership…