S Corporation Form In Hennepin
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If you are waiting for a refund and want to know its status: Use our Where's My Refund? system. Call our automated phone system (available 24/7) at 651-296-4444 or 1-800-657-3676.
To form an S Corporation in Minnesota, you'll need to file Articles of Incorporation with the Secretary of State. Once the corporation is established, you'll need to file IRS Form 2553 to elect S Corporation status.
If you need Minnesota income tax forms: Download forms from the Minnesota Department of Revenue. Photocopy the forms you need at a library. Call 800-657-3676 or 651-296-4444 to place an order.
We can provide copies of returns received and processed within the last six years. To request copies of previously filed Minnesota tax returns, you may: Complete and send Form M100, Request for Copy of Tax Return.
Minnesota State Income Tax Forms If you need Minnesota income tax forms: Download forms from the Minnesota Department of Revenue. Photocopy the forms you need at a library. Call 800-657-3676 or 651-296-4444 to place an order.
Choose a business name for your S corp. File articles of incorporation. Issue stock for your S corp. Elect a board of directors and appoint officers. Meet other S corp eligibility requirements. Obtain an employer identification number. Elect S corp status. Apply for state and local S corp business licenses.
Tax rate is 9.8 percent A flat tax rate of 9.8 percent applies to Minnesota taxable income.
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.
Starting in tax year 2023, partnerships must also complete Schedule PTE-RP, Pass-Through Entity Tax for Resident Partners, if any partners are Minnesota residents. PTE tax is calculated by multiplying the entity's PTE taxable income by the highest Minnesota individual income tax rate, which is currently 9.85%.
