Schedule Kpc - Partner'S Share Of Income, Credits And Modifications - 2014 Page 3
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3Schedule KPC Instructions 2014
(continued)
Line 18—Employer Transit Pass
Lines 22 and 23—Apportionment
Line 11—Fines, Fees and Penalties
C corporations: Include this amount on
Factors
C corporations: Include this amount on
Form M4T, line 21. Be sure to enclose a
The apportionment factors are used to deter-
Form M4I, line 2j. Enclose a copy of this
copy of this schedule with Form M4.
mine the Minnesota apportioned income.
schedule with Form M4.
S corporations: Schedule KS, line 14. You
If the partnership and partner are con-
S corporations: Pass this information
must enclose a copy of this schedule even if
sidered unitary under Minnesota Statutes
through, pro rata, to shareholders on Sched-
you are passing the credit through to your
290.17, subd. 4, [disregarding paragraph
ule KS, line 7.
shareholders.
(e) (50 percent indirect or direct ownership
Partnerships: Schedule KPI, line 6, or KPC,
needed for unity of ownership)] these fac-
Partnerships: Schedule KPI, line 14 or KPC,
line 11.
tors are included with the partners’ own fac-
line 17. Be sure to enclose a copy of this
tors in determining the income apportioned
Line 13—Net Interests on U.S. Bonds
schedule even if you are passing the credit
to Minnesota on the partner’s supplemental
C corporations: Not applicable
through to your partners.
schedule. (The supplemental schedule is
S corporations: Pass this information
Form M4A for corporate partners or M3A
Line 19—Enterprise Zone Credit
through, pro rata, to shareholders on Sched-
C corporations: Include this amount on
for partnership partners.) The partner’s
ule KS, line 9.
Form M4, line 4. Be sure to enclose a copy
entire income is then multiplied by the part-
of this schedule with Form M4.
ner’s apportionment ratio to determine the
Partnerships: Schedule KPI, line 8, or KPC,
Minnesota portion of its income.
line 13.
S corporations: Schedule KS, line 15. You
must enclose a copy of this schedule even if
If the partner is not unitary with the
Line 15—Research Credit
you are passing the credit through to your
partnership, it will use only these factors
C corporations: Include this amount on
shareholders.
to calculate the Minnesota apportionment
Schedule RD, line 30. Enclose a copy of this
ratio to be used in determining the Minne-
schedule with Form M4.
Partnerships: Schedule KPI, line 15 or KPC,
sota source income from that K-1. It will be
line 19. You must enclose a copy of this
S corporations: Schedule KS, line 11.
the same ratio as the partnership’s Min-
schedule even if you are passing the credit
nesota apportionment ratio, and it will be
Partnerships: Schedule KPI, line 11, or KPC,
through to your partners.
multiplied by the K-1 income to determine
15.
the Minnesota portion of income from that
Lines 20—Jobs Credit for Participating
Line 16—Greater Minnesota Internship
partnership.
in a JOBZ Zone
Credit
C corporations: Include this amount on
C corporations: Include this amount on
Form M4, line 5, and enclose a copy of this
Form M4, line 7. Be sure to enclose a copy
schedule when you file your return.
of this schedule with Form M4.
S corporations: Include this amount on
S corporations: Pass this information
Form M8, line 11, or if you are passing it
through, pro rata, to shareholders on Sched-
through to your shareholders, enter the
ule KS, line 12.
shareholder’s pro rata share on Schedule
KS, line 16. You must enclose a copy of
Partnerships: Pass this information through,
this schedule with your Form M8, even if
pro rata, to partners on Schedule KPI, line
you are passing the credit through to your
12, or KPC, line 16.
shareholders.
Line 17—Historic Structure Rehabilita-
Partnerships: Schedule KPI, line 16 or KPC,
tion Credit
line 20. Be sure to enclose a copy of this
C corporations: Include this amount and the
schedule when you file your return even if
NPS project number on Form M4, line 6. Be
you are passing the credit through to your
sure to enclose a copy of this schedule with
partners.
Form M4.
S corporations: Schedule KS, line 13 and
include the NPS project number.
Partnerships: Schedule KPI, line 13 or KPC,
line 17 and include the NPS project number.
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