Minnesota

Corporate income tax

Corporation Franchise Tax (Minnesota's corporate income tax) return, Form M4, must be filed by the due date for filing the federal corporate income tax return, i.e. the 15th day of the fourth month after the tax year ends (cooperatives: 15th day of the ninth month).

Extension. All corporations are granted an automatic seven-month extension to file Form M4; no form is required

Partnerships and S corporations

Partnerships and S corporations owe the Minnesota minimum fee with their M3/M8 (see other_business_taxes). Elective Pass-Through Entity (PTE) tax at 9.85% (highest individual rate) on qualifying owners' income, elected on Schedule PTE filed with Form M3/M8 by the extended due date; allowed through taxable years beginning before Jan 1, 2028; late elections not accepted.

Sales and use tax

Due date. Monthly and quarterly returns and payments are due on the 20th day of the month following the period; annual returns are due February 5 of the following year. Next business day if the due date falls on a weekend or holiday.

Filing frequency. DOR assigns filing frequency based on average monthly sales and use tax liability (including DOR-administered local taxes).

Thresholds. Annual: less than $100 per month average liability. Quarterly: $100 to $500 per month. Monthly: more than $500 per month.

Prepayments. None currently. The former June accelerated payment for sales and use tax ended due to a 2021 law change (last applied for June 2021).

Notes

Minnesota calls its corporate income tax the 'Corporation Franchise Tax' (9.8% rate); there is no separate capital-based franchise tax. The 7-month corporate extension is longer than the federal 6 months. The annual business renewal is a Secretary of State filing and is not covered here.