S Corporation Without Payroll In Minnesota
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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.
All S corporations are granted an automatic six-month extension to file Form M8, S Corporation Return. If the IRS grants an extension of time to file your federal return that is longer than Minnesota's six-month extension, your state filing due date is extended to the federal due date.
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.
Minnesota residents who are unable to file their tax return by the due date may file a form M13 along with payment for an extension to do so. There is no extension available concerning the actual payment of taxes. This document should be completed on a computer and printed out.
Tax rate is 9.8 percent A flat tax rate of 9.8 percent applies to Minnesota taxable income.
If you're unable to file your Minnesota income tax return by April 15, 2025, you may file under extension. This means you'll have extra time to file your return - it'll need to be filed by October 15, 2025. You don't have to submit an extension request to Minnesota to file under an extension.
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%.
