Minnesota S Corporation Return (M8 and M8A)

S Corporation Return (M8 and M8A)
2023 M8, S Corporation Return
*238011*

2023 M8, S Corporation Return
Tax year beginning (MM/DD/YYYY)

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Do not use staples on anyting you submit.

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Name of Corporation
Mailing Address

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and ending (MM/DD/YYYY)

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Federal ID Number

Minnesota Tax ID

Former name, if changed since 2022 return:

Check if New Address

City

State

ZIP Code

Number of Schedule KS

Number of Shareholders

Place an X in all that apply:
Qualified Subchapter
S Subsidiary

Initial
Return

Composite
Income Tax

Financial
Institution

Public
Law
86-272

Pass-through
Entity (PTE) Tax

Tax Position Disclosure
(Enclose Form TPD)

Final Return

Installment Sale of Passthrough Assets or Interests

1 S corporation taxes (place an X in all that apply):
Federal Schedule D taxes

Passive income

Round amounts to nearest whole dollar

(enclose computation)

LIFO recapture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Minimum fee from M8A, line 9 (see M8A instructions, pg. 9) . . . . . . . . . . . . . . 2

(enclose M8A)

3 Pass-through Entity Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

(enclose Schedule PTE)

4 Composite income tax for nonresident shareholders . . . . . . . . . . . . . . . . . . . . 4
5 Minnesota income tax withheld for nonresident shareholders.
If you received Form AWC from a shareholder, check box:
5

(enclose Schedules KS)
(enclose Forms AWC)

6 Add lines 1 through 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
7 Employer Transit Pass Credit not passed through to shareholders
(enclose Schedule ETP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 Film Production Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Enter the credit certificate number: TAXC 9 Tax Credit for Owners of Agricultural Assets not passed through to shareholders
.............................................................................................9
Enter the certificate number from the certificate you received from the
Rural Finance Authority:
AO
10 Housing Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Enter the credit certificate number from Minnesota Housing: SHTC -

-

11 Short Line Railroad Infrastructure Modernization Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
12 Credit for Sales of Manufactured Home Parks to Cooperatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
13 Add lines 7 through 12, limited to the sum of lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

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Continued next page

2023 M8, page 2
*238021*
Name of Corporation

Federal ID Number

Minnesota Tax ID

Round amounts to nearest whole dollar

14 Subtract line 13 from line 6 (if result is zero or less, leave blank) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
15 Minnesota Nongame Wildlife Fund donation (see instructions, pg. 6).
This will reduce your refund or increase your tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15

16 Add lines 14 and 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Enterprise Zone Credit not passed through
to shareholders (enclose Schedule EPC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18 Estimated tax and/or extension payments made for 2023 . . . . . . . . . . . . . . . 18
19 Add lines 17 and 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 Tax due. If line 16 is more than line 19, subtract line 19 from line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
21 Penalty (see instructions, pg. 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
22 Interest (see instructions, pg. 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
23 Additional charge for underpayment of estimated tax (attach Schedule EST) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24 AMOUNT DUE. If you entered an amount on line 20, add lines 20 through 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Payment method:

Electronic (see inst., pg. 2), or

Check (see inst., pg. 2)

25 Overpayment. If line 19 is more than the sum of lines 16 and 21
through 23, subtract lines 16 and 21 through 23 from line 19 . . . . . . . . . . . . 25
26 Amount of line 25 to be credited to your 2024 estimated tax . . . . . . . . . . . . . 26
27 REFUND. Subtract line 26 from line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
28 To have your refund direct deposited, enter the following. Otherwise, you will receive a check.
Checking

Savings

Routing number

Account number (use an account not associated with any foreign banks)
/
/
Date (MM/DD/YYYY)

Signature of Officer
Print Name of Officer

Email Address for Correspondence, if Desired

This Email Address belongs to:
Employee

Paid Preparer’s Signature

/
/
Date (MM/DD/YYYY)

Preparer’s PTIN

Include a complete copy of federal Form 1120S, Schedules K and K-1,
and other federal schedules
Mail to: Minnesota S Corporation Income Tax
Mail Station 1770
600 N. Robert St.
St. Paul, MN 55146-1770

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Officer’s Direct Phone

Paid Preparer

Other:

Preparer’s Direct Phone

I authorize the Minnesota Department of Revenue to discuss
this tax return with the preparer.
I do not want my paid preparer to file my return electronically.

*238111*

2023 M8A, Apportionment and Minimum Fee
All S corporations must complete M8A to determine its Minnesota source income and minimum fee. See M8A instructions
beginning on page 9. Enclose a copy of your balance sheet.
A

In Minn.

B

Total

(carry to 5 decimal places)

C

Factors (A ÷ B)

Property

1 a Average value of inventory . . . . . . . . . . 1a
b Average value of buildings, machinery
and other tangible property owned . . . 1b
c Average value of land owned . . . . . . . . 1c
Total average value of tangible property
owned at original cost (add lines 1a-1c) . . . . . . 1
2 Capitalized rents paid by S corporation
(gross rents paid x 8) . . . . . . . . . . . . . . . . . . . 2
3 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . 3

Payroll

4 Total payroll, including officers’
compensation. . . . . . . . . . . . . . . . . . . . . . . . . . 4

Sales

5 Sales (including rents received) . . . . . . . . . . . 5
(If line 5, column B is zero, see instructions, page 9.)

Minimum Fee Calculation
6 Total of lines 3, 4 and 5 in column A . . . . . . . 6
7 Adjustments (see instructions, page 10) . . . . 7

(Identify pass-through entity and enclose schedule.)

8 Combine lines 6 and 7 . . . . . . . . . . . . . . . . . . 8
9 Minimum fee (determine using the amount
on line 8 and the table below) . . . . . . . . . . . . 9

Enter this amount on line 2 of your Form M8.

Minimum Fee Table
If line 8 of M8A is:
your minimum fee is:
Less than $1,160,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$0
$1,160,000 to $2,309,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $240
$2,310,000 to $11,569,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $690
$11,570,000 to $23,139,999 . . . . . . . . . . . . . . . . . . . . . . . . . . $2,310
$23,140,000 to $46,279,999 . . . . . . . . . . . . . . . . . . . . . . . . . . $4,640
$46,280,000 or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $11,570

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