Employer Transit Pass Credit - Minnesota Department Of Revenue printable pdf download

Employer Transit Pass Credit - Minnesota Department Of Revenue

MINNESOTA Department of Revenue

ETP

Employer Transit Pass Credit

For C corporations, S corporations, partnerships, sole proprietors, insurance companies,

fiduciaries and nonprofit organizations.

Name of employer

Minnesota ID number

FEIN

—

1 Original cost to employer of passes sold or given to employees . . . . . . . . . . . . . . . . . . . . . . . 1

2 Total charged employees for passes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4 Multiply line 3 by 30% (.30). This is the amount of your credit . . . . . . . . . . . . . . . . . . . . . . . . 4

If you’re a:

Fill in amount of credit on:

C corporation

Form M4-T, line 21

S corporation

Form M-3S-4, line 6**

Partnership

Form M-3, line 5**

Sole proprietor

Form M-1, line 44

Insurance companies

See Form M-7 instructions for line 22.

Fiduciary

Call (651) 296-3475 or 1-800-657-3871 for instructions.

Nonprofit organization

Call (651) 297-5199 or 1-800-657-3619 for instructions.

**Remaining credit may be passed through to partners and shareholders.

Instructions

If you purchase transit passes to resell or give to your employees, you may be eligible for this

credit.

To qualify:

1. The transit pass must be a pass, token, farecard, voucher or similar item entitling a person to

transportation at regular or reduced prices.

2. The transportation must be provided by either a:

• Public or privately-owned mass transit facility; or

• A person in the business of transporting people for compensation or hire. The vehicle must

have seating capacity for at least six adults, not including the driver.

3. The passes must be used in Minnesota.

The credit is equal to 30 percent of the difference between the price you pay for the passes and the

price you charge employees. It is not refundable and can only be applied to your current tax

liability.

Stock No. 1000200

(10/00)

Employer Transit Pass Credit - Minnesota Department Of Revenue

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