Minnesota Amended S Corporation Return/Claim for Refund

Amended S Corporation Return/Claim for Refund
2023 M8X, Amended S Corporation Return/Claim for Refund
*238911*

2023 M8X, Amended S Corporation Return
Explain	each	change	on	page	2	of	Form	M8X.
Tax	year	beginning	(MM/DD/YYYY)			

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			and	ending	(MM/DD/YYYY)					

Do	not	use	staples	on	anyting	you	submit.

/

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Name of Corporation

Federal ID Number

Mailing Address

Check this box if the name or address has changed since
filing your original return. Fill in former information below.

City

State

ZIP Code

Minnesota Tax ID Number

Former Name or Address, if Changed
Number of Amended Schedule KS

Place an X in
all that apply:

Composite
Income Tax

Check box to indicate the
reason you are amending:

Financial Institution

QSSS

Installment Sale of
Pass-through Assets
or Interests

Number of Shareholders

Pass-through
Entity (PTE) Tax

Amended
Federal Return

Changes Affect
IRS Adjustment

Changes Affect
Schedules KS

Changes Affect M8A

Nonresident Withholding

Public Law
86-272

Tax Position
Disclosure
(Enclose Form TPD)

1	 S	corporation	taxes	(enclose computation):
Original:

Sch	D	taxes		

Passive	income	

			LIFO	recapture
Amended:

Sch	D	taxes	

Passive	income			

A–As	previously	reported	

B–Net	change	

			LIFO	recapture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

2 Minimum	fee	(from line 2 of Form M8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Pass-through	Entity	Tax	(enclose Schedule PTE). . . . . . . . . . . . . . . . . . . . . . . . 3
4 Composite	income	tax	(enclose Schedules KS). . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Nonresident	Minnesota	withholding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
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	-

9995

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Continued next page

C–Corrected	amounts

2023 M8X, page 2
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Name of Corporation

Federal ID Number

Minnesota Tax ID Number

A–As	previously	reported	

B–Net	change	

C–Corrected	amounts

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
14 Subtract	line	13	from	line	6	(if result is zero or less, leave blank) . . . . . . . . . 14
15 Enterprise	Zone	Credit	(enclose Schedule EPC) . . . . . . . . . . . . . . . . . . . . . . . . .15
16 Estimated	tax	and/or	extension	payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . .16
17 Amount	due	from	original	Form	M8,	line	20	(see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18 Total	refundable	credits	and	tax	paid	(add lines 15C, 16C, and 17) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
19 Refund	amount	from	original	Form	M8,	line	25	(see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 Subtract	line	19	from	lines	18	(if result is less than zero, enter the negative amount) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
21	 Tax	you	owe.	If	line	14C	is	more	than	line	20,	subtract	line	20	from	line	14C	
(if line 20 is a negative amount, see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
22	 If	you	failed	to	timely	report	federal	changes	or	the	IRS	assessed	a	penalty	(see instructions) . . . . . . . . . . . . . . . . . . . . . . 22
23	 Add	lines	21	and	22	 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24	 Interest (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
25 AMOUNT DUE (add lines 23 and 24).	Skip	lines	26–27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Check	payment	method:

Electronic	(see instructions),	or	

Check (see instructions)

26 REFUND.	If	line	20	is	more	than	line	14C,	22,	and	24,	subtract	lines	14C,	22,	and	24	from	20	 . . . . . . . . . . . . . . . . . . . . . . 26
27	 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)
/

Signature of Officer

/

Date (MM/DD/YYYY)

Print Name of Officer

E-mail Address for Correspondence, if Desired

Preparer’s Signature

Preparer’s PTIN

Employee Email
/

/

Date (MM/DD/YYYY)

Enclose a detailed explanation of net changes and show computations in detail.
Enclose your list of changes, amended schedules, and a complete copy of the
amended federal Form 1120s, if any.
Mail	to:	
Minnesota	S	Corporation	Tax	
Mail	Station	1770,	600	N.	Robert	St.,	St.	Paul,	MN	55146-1770

9995

Officer’s Direct Phone
Paid Preparer Email

Other

Preparer’s Direct Phone

I	authorize	the	Minnesota	Department	of	Revenue	
								to	discuss	this	tax	return	with	the	preparer.

2023 Form M8X Instructions
Before	you	can	complete	Form	M8X,	you	will	need	the	M8	instructions	for	the	year	you	are	amending.

Who Should File M8X?

This form must be filed by S corporations to correct—or amend—an original Minnesota Form M8, S Corporation Return. If you are amending a
return from a tax year other than the year listed at the top of this form, use the Form M8X for that year.
Federal Return Adjustments. If the Internal Revenue Service (IRS) changes or audits your federal return or you amend your federal return, you
have 180 days to file an amended Minnesota return. If you are filing Form M8X based on an IRS adjustment, check the box in the heading and
attach to your Form M8X a complete copy of your amended federal return or the correction notice you received from the IRS.
If you fail to report as required, a 10 percent penalty will be assessed on any additional tax. See line 19 instructions.
Claim for Refund. Use Form M8X to make a claim for refund and report changes to your Minnesota liability. If you make a claim for a refund
and we do not act on it within six months of the date filed, you may bring an action in the district court or the tax court.

Pass-through Entity Tax and Nonresident Withholding

Overpayments of nonresident withholding are limited to the amount of the overpayment that was not deducted or withheld from the
S corporation. Overpayment of the PTE tax are limited if the shareholder has claimed the pass-through entity tax credit on their return.
The S corporation should provide enough information so the shareholders may file an accurate amended income tax return. This may include
amended federal schedules K-1 and KS showing the change. The shareholders must amend their income tax return reflecting these changes to
calculate a change in tax due.

When to File
File Form M8X only after you have filed your original return. You may file Form M8X within 3½ years after the return was due or within one
year from the date of an order assessing tax, whichever is later. If you filed your original return under an extension by the extended due date, you
have up to 3½ years from the extended due date to file the amended return.

Filing Reminders

The amended return must be signed by a principal officer of the corporation.
If you pay someone to prepare your return, the preparer must sign and enter his or her PTIN number and daytime phone.
Round amounts to the nearest dollar. Decrease any amount less than 50 cents and increase any amount that is 50 cents or more to the next
higher dollar.

Completing the Form

Enter the beginning and ending dates for the tax year you are amending at the top of the form. Enclose, on a separate sheet of paper, a detailed
explanation of why the original return was incorrect. Providing this information will help us verify the amended amounts. Do not staple or tape
any enclosures to your return.
Estimated payments and refunds credited to subsequent years cannot be amended or changed after the original return is filed.
Form AWC, Alternative Withholding Certificate, can only be filed with the original return. Any Forms AWC received after the filing of the
original return will be denied.
Apportionment Factors. Minnesota uses the single sales apportionment factor.

Use of Information

All information provided on this form is private, except for your Minnesota tax ID number, which is public. Private information cannot be given
to others except as provided by state law.
The identity and income information of the shareholders are required under state law so the department can determine the shareholder’s correct
Minnesota taxable income and verify if the shareholder has filed a return and paid the tax. The Social Security number of the shareholders are
required to be reported on Schedule KS under M.S. 289A.12, subd. 13.

Lines 1–16
Columns A, B and C

Column A: Enter the amounts shown on your original return or as later adjusted by an amended return or audit report.
Column B: Enter the dollar amount of each change as an increase or decrease for each line you are changing. Show all decreases in parentheses.
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2023 Form M8X Instructions (Continued)
If the changes you are making affect the amounts on a schedule, you must complete and enclose a corrected schedule.
If you do not enter an amount when there is a change, the processing of your amended return will be delayed. You must also explain each
change in detail in the space on page 2 of Form M8X and enclose any related schedules or forms.
If you are not making a change for a given line, leave column B blank.
Column C: Enter the corrected amounts after the increases or decreases. If there are no changes, enter the amount from column A.

Line 3

The Pass-through Entity (PTE) tax election may be made on a return filed on or before the extended due date of your original return.
Complete and enclose an updated Schedule PTE if the reason you are amending caused a change in the PTE tax calculation.
Do not reduce the PTE tax by any amount that was deducted and withheld from the shareholder’s shares.

Line 17

Enter the total of the following tax amounts, whether or not paid:
• amount from line 20 of your original M8
• any additional tax due from a previously filed M8X
• additional tax due as the result of an audit or notice of change
Do not include any amounts that were paid for penalty, interest or underpayment of estimated tax.

Line 19

Enter the total of the following refund amounts:
• from line 25 of your original M8, even if you have not yet received it
• any refund amount from a previously filed form M8X
• refund or reduction in tax from a protest or other type of audit adjustment
Include any amount that was credited to estimated tax, applied to pay past due taxes or donated to the Minnesota Nongame Wildlife Fund.
Do not include any interest that may have been included in the refunds you received.

Lines 21 and 26

Lines 21 and 26 should reflect the changes to your tax and/or credits as reported on lines 1 through 18 of Form M8X. If you have unpaid
taxes on your original Form M8, Form M8X is not intended to show your corrected balance due.

Line 21

If line 20 is a negative amount, treat it as a positive amount and add it to line 14C. Enter the result on line 21. This is the amount you owe,
which is due when you file your amended return. You cannot use any funds in your estimated tax account to pay this amount. Continue with
line 22.

Line 22

If only one of the penalties below applies, you must multiply line 21 by 10 percent (.10). If both penalties apply, multiply line 21 by 20 percent
(.20). Enter the result on line 22.
• The IRS assessed a penalty for negligence or disregard of rules or regulations; and/or
• You failed to report federal changes to the department within 180 days as required.

Line 24

Interest is calculated as simple interest and accrues on unpaid tax and penalties from the regular due date until it is paid in full. Use the formula below with the appropriate interest rate:
Interest = line 20 x number of days past the due date x interest rate ÷ 365

If the days fall in more than one calendar year, you must determine the number of days separately for each year.
The interest rates for recent years are:
2024
2023
2021-22
2019-20
2017-18

8%
5%
3%
5%
4%

2010-16
2009
2007-08
2006
2004-05

3%
5%
8%
6%
4%

2003
2002
2001
1999-2000
1998

5%
7%
9%
8%
9%

Penalty will be assessed if the additional tax and interest are not paid with the amended return.

Line 25

Pay Electronically. Go to www.revenue.state.mn.us and log in to e-Services. When paying electronically, you cannot use a foreign bank
account.
Continued

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2023 Form M8X Instructions (Continued)
Pay by Check. Go to www.revenue.state.mn.us and select Make a Payment. Select Check. Use the Payment Voucher System to create a
voucher.
Your check authorizes us to make a one-time electronic fund transfer from your account. You will not receive your canceled check.

Line 26

If you want your refund to be directly deposited into your bank account, complete line 27. Your bank statement will indicate when your
refund was deposited to your account. Otherwise, skip line 27 and your refund will be sent to you in the mail.
This refund cannot be applied to your estimated tax account.

Line 27

If you want your refund to be directly deposited into your checking or savings account, enter the routing and account numbers. You must use
an account not associated with any foreign banks.
The routing number must have nine digits.
The account number may contain up to 17 digits (both numbers and letters). Enter the number
and leave out any hyphens, spaces and symbols.

You	can	find	your	bank’s	routing	number	and	
account	number	on	the	bottom	of	your	check.

If the routing or account number is incorrect or is not accepted by your financial institution,
your refund will be sent to you in the form of a paper check.
By completing line 27, you are authorizing the department and your financial institution to initiate electronic credit entries, and if necessary,
debit entries and adjustments for any credits made in error.

Signature

The return must be signed by the principal officer of the organization receiving, controlling or managing the income of the S corporation. The
person must also include his or her ID number.
If someone other than the principal officer prepared the return, the preparer must also sign. The preparer’s PTIN and phone number should
also be included.
Check the box to authorize the department to discuss this return with the preparer. This authority allows us to discuss with your preparer
these items from this return: line item details; tax due on original and adjustments made during processing; penalty or interest due; documents
received or sent like a tax order or bill; and dates and amounts of payments, credits, or refunds. The authority also allows your preparer to
cancel direct deposit or debit payments and submit an abatement request.
The authority granted by a marked return checkbox is valid for one year after the due date for current original returns, or one year from the
date the form was submitted for amended and noncurrent original returns.
Checking the box does not give your preparer the authority to sign any tax documents on your behalf, represent you at any audit or appeals
conference, or discuss abatement progress. For these types of authorities, you must file Form REV184b, Business Power of Attorney, with the
department.

Email Address

If the department has questions regarding your return and you want to receive correspondence electronically, indicate the email address below
your signature. Check a box to indicate if the email address belongs to an employee of the S corporation, the paid preparer or other contact
person.
By providing an email address, you are authorizing the department to correspond with you or the designated person over the Internet and you
understand that the entity’s nonpublic tax data may be transmitted over the Internet.
You also accept the risk that the data may be accessed by someone other than the intended recipient. The department is not liable for any
damages that the entity may incur as a result of an interception.

Information and Assistance
Website: www.revenue.state.mn.us
Email:

[email protected]

Phone:

651-556-3075

This material is available in alternate formats.

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