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Minnesota Income Tax Computation for S Portion of ESBT
Extracted from PDF file 2024-minnesota-form-m2sb.pdf, last modified October 2023Income Tax Computation for S Portion of ESBT
2024 Schedule M2SB, Income Tax Computation for S Portion of ESBT *242311* Name of Trust Federal ID Number Minnesota ID Number Name of S-Corporation S Portion of ESBT Holds Stock In Federal ID Number of S-Corporation Additional S-Corporation S Portion of ESBT Holds Stock In Federal ID Number of Additional S-Corporation 1 Federal taxable income of S portion (enclose federal computation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Fiduciary’s deductions and losses not allowed by Minnesota (enclose Schedule M2NM) . . . . . . . . . . . . . . . . 2 3 Additions (from line 27, on page 2 of this schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Add lines 1 through 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Subtractions (from line 43, on page 3 of this schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Fiduciary’s income from non-Minnesota sources (enclose Schedule M2NM) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Add lines 5 and 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Minnesota taxable net income. Subtract line 7 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Tax from table in Form M2 instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Total of tax from Schedule M2MT (enclose Schedule M2MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Total of 2024 tax for S portion. Add lines 9 and 10 and include amount on line 11 of Form M2 . . . . . . . . . 11 You must include this schedule and a copy of federal computations for the S portion of the ESBT when you file Form M2. 9995 2024 M2SB, page 2 *242321* Additions to Income 12 State and municipal bond interest from outside Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 13 State taxes deducted in arriving at net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 3 14 Expenses deducted on your federal return that are attributable to income not taxed by Minnesota (other than interest or mutual fund dividends from U.S. bonds) . . . . . . . . . . . . . . . . . . . . . . . . . . 1 4 15 80 percent of the suspended loss from 2001–2005 or 2008–2023 on your federal return that was generated by bonus depreciation (see Form M2 instructions) . . . . . . . . . . . . . . . . . . . . 1 5 16 80 percent of federal bonus depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 6 17 Section 199A qualified business income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 7 18 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 8 19 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 9 20 Foreign derived intangible income (FDII) deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 0 21 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 1 22 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 23 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 24 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 25 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 5 26 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 6 27 Add lines 12 through 26. Enter the result here and on line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 7 Subtractions from Income 28 Interest on U.S. government bond obligations, minus any expenses deducted on your federal return that are attributable to this income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 8 29 State income tax refund included on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 9 30 Federal bonus depreciation subtraction (see Form M2 instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 0 31 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 1 32 Subtraction for railroad maintenance expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 33 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 34 Deferred foreign income (section 965) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 35 Disallowed section 280E expenses of a licensed cannabis or hemp business . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5 36 Delayed business interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 6 9995 2024 M2SB, page 3 *242331* 37 Delayed net operating loss deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 7 38 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8 39 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 9 40 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 0 41 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 1 42 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 43 Add lines 28 through 42. Enter the result here and on line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3 9995 2024 Schedule M2SB Instructions Who Must File Schedule M2SB If a trust is filing as an Electing Small Business Trust (ESBT), you must file Schedule M2SB to report all items relating to the S Portion of the trust. Report all the income from the S Portion of an ESBT on Schedule M2SB and include a copy of Schedule KS. Enter the name and federal tax ID of each S-Corporation on the Form M2SB. If you have to enter more than two entities and need additional spaces, include them on an attached statement. Apportion all income, deductions and modifications based upon the S-corporation’s Minnesota apportionment factor reported on Schedule KS, line 50. Include an attachment detailing the calculation. Line Instructions Round amounts to the nearest whole dollar. Line 1 Enter the federal taxable income of the S Portion that you calculated on your federal schedule. Be sure to include a copy of the federal schedule when you file Form M2 and Schedule M2SB. Line 2 Use Schedule M2NM, Non-Minnesota Source Income and Related Expenses, to determine the amount to include on line 2. Line 6 Use Schedule M2NM to determine the amount to include on line 6. Line 10 Complete a separate Schedule M2MT for the S Portion of the trust. See the instructions for Schedule M2MT for details on completing this schedule for the S Portion of the ESBT. Lines 12 - 43 To complete lines 12 through 43, see instructions for Form M2 lines 43 through 73.
2024 M2SB, Income Tax Computation for S Portion of ESBT
More about the Minnesota Form M2SB Estate Tax TY 2024
We last updated the Income Tax Computation for S Portion of ESBT in February 2025, so this is the latest version of Form M2SB, fully updated for tax year 2024. You can download or print current or past-year PDFs of Form M2SB directly from TaxFormFinder. You can print other Minnesota tax forms here.
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TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Minnesota Form M2SB.
| Form Code | Form Name |
|---|---|
| Form M2SBNC | Federal Adjustments (Trust) |
View all 96 Minnesota Income Tax Forms
Form Sources:
Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form M2SB from the Department of Revenue in February 2025.
About the Estate Tax
The IRS, and many states, impose an estate tax on the transfer of cash and property between a decedent and their beneficiaries. These taxes generally only apply to estates over a certain size threshold, generally several million dollars, and therefore only affects the largest few percent of estates in the United States.
Historical Past-Year Versions of Minnesota Form M2SB
We have a total of fourteen past-year versions of Form M2SB in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2024 Form M2SB
2024 M2SB, Income Tax Computation for S Portion of ESBT
2023 Form M2SB
2023 M2SB, Income Tax Computation for S Portion of ESBT
2022 Form M2SB
2022 M2SB, Income Tax Computation for S Portion of ESBT
2021 Form M2SB
2021 M2SB, Income Tax Computation for S Portion of ESBT
2020 Form M2SB
2020 M2SB, Income Tax Computation for S Portion of ESBT
2019 Form M2SB
2019 M2SB, Income Tax Computation for S Portion of ESBT
2018 Form M2SB
2018 Schedule M2SB, Income Tax Computation for S Portion of ESBT
2017 Form M2SB
2016 Schedule M2SB, Income Tax Computation for S Portion of ESBT
2016 Form M2SB
2016 Schedule M2SB, Income Tax Computation for S Portion of ESBT
2015 Form M2SB
2008 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2014 Form M2SB
2008 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2013 Form M2SB
2008 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2012 Form M2SB
2008 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2011 Form M2SB
2008 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
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