Get M1b Form

Filling out the M1b Form, which is essential for reporting business and investment credits in Minnesota, can be managed efficiently online. This guide provides a step-by-step approach to help you complete the form accurately and confidently.

Follow the steps to complete your M1b Form online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Enter your Social Security number in the designated field to identify your tax record and ensure the form is linked to your profile.
3. Fill in your first name, initial, and last name. This information needs to be accurate, as it establishes the identity of the person submitting the form.
4. Complete Line 1 by entering the amount of the Angel Investment Tax Credit you are claiming. This should match the amount on the Angel Investment Tax Credit Certificate issued by the Department of Employment and Economic Development (DEED).
5. On Line 2, if applicable, provide the amount for the Credit for Historic Structure Rehabilitation and include the National Park Service project number as required.
6. For Line 3, enter the amount of the Job Opportunity Building Zone (JOBZ) Jobs Credit received, ensuring that it corresponds to the documentation provided in Schedule JOBZ.
7. Fill Line 4 by calculating the Credit for Tuberculosis Testing on Cattle. Multiply your testing expenses by 50 percent (0.50) and input the result.
8. On Line 5, claim the Enterprise Zone Credit by entering the appropriate amount from your documents received from DEED. Make sure to include any necessary documentation with your submission.
9. Finally, add the totals of Lines 1 through 5 and record the total on Line 6. This total will also need to be reported on Line 28 of Form M1.
10. Review all entries for accuracy, then save, download, print, or share your completed M1b Form as needed.

Start completing your M1b Form online today to ensure you receive all eligible credits.