Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corp Status For Llc In Hennepin
State:
Multi-State
County:
Hennepin
Control #:
US-0046-CR
Format:
Word;
Rich Text
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FAQ
Minnesota's income tax is a graduated tax, with four rates: 5.35 percent, 7.05 percent, 7.85 percent, and 9.85 percent. The rates are applied to income brackets that vary by filing status.
FL, SD and WY are typically the best for no personal/business taxes. Nexus rules still apply to other states.
S Corporation Tax applies to companies or organizations that file an annual federal income tax return as an S Corporation and meets at least one of the following: Located in Minnesota. Have a business presence in Minnesota.
Minnesota has a 9.8 percent corporate income tax rate. Minnesota also has a 6.875 percent state sales tax rate and an average combined state and local sales tax rate of 8.04 percent.