Worksheet Rc - Minnesota Care Research Credit - 2014

ADVERTISEMENT

Worksheet RC
2014 MinnesotaCare Research Credit
Include this worksheet with your MinnesotaCare tax return.
Business Name
Minnesota Tax ID Number
Address
City
State
Zip Code
Round amounts to the
nearest whole dollar.
1 2014 MinnesotaCare tax liability (from line 11 of your 2014 Worksheet C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Qualifying receipts subject to MinnesotaCare tax that were used to fund qualifying research in 2014 . . . . . . . . . . . 2
3 Multiply line 2 by 1 .5% ( .015) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 MinnesotaCare Research Credit. Enter the amount from line 1 or line 3, whichever is less . . . . . . . . . . . . . . . . . . 4
Instructions
Who is Eligible
Calculating the Credit
—a peer review process, if the research is
basic research in the fields of biochem-
Health care providers and hospitals may be
The credit is equal to a percentage of the
istry, molecular biology or physiology.
eligible for a credit against their Minneso-
expenditures used to fund the qualifying
taCare tax liability if they used their health
research and cannot exceed the amount of
• Be subject to review by individuals who
care receipts to fund qualifying health care
your MinnesotaCare tax liability for the
have expertise in the subject matter but
research.
year. The percentage is determined annually.
no financial interest in the research and
For 2014, the percentage is 1.5 percent.
no involvement in conducting it.
To qualify, the entity conducting the re-
search must be:
How to File
Qualifying research does not include:
If you qualify for the MinnesotaCare tax
• Exempt from federal income tax under
• Clinical research activities paid directly
research credit, you will not be able to file
IRC section 501c(3), OR
for the benefit of an individual patient, or
your 2014 return electronically in e-Services.
• Owned and operated under the authority
• Routine evaluations for health care
Instead, complete this worksheet in addition
of a unit of government.
methods or products conducted for the
to Worksheet C. Forms are available on our
purpose of making a management deci-
Qualifying research must:
website.
sion.
• Be part of a formal program of medical
Mail both forms by March 16, 2015 to:
Qualifying Receipts
and health care research.
MinnesotaCare Tax
To claim the credit, the health care receipts
• Be approved in writing by the govern-
Mail Station 6100
used to fund the research must be subject to
ing body of the health care provider or
St. Paul, MN 55146-6100
the MinnesotaCare tax.
hospital claiming the credit.
Or fax to: 651-556-5233
Receipts that are exempt from tax cannot
• Have as its purpose the development of
be used to calculate the credit, including
new knowledge in basic or applied sci-
Information and Assistance
exempt receipts under Minnesota Statutes,
ence relating to the diagnosis and treat-
Additional information about the research
section 295.53, subd. 1; any amounts re-
ment of conditions affecting the human
credit, including how it differs from the
ported on lines 2 – 8 of your MinnesotaCare
body.
MinnesotaCare tax research exemption, can
tax return; and any grants, gifts or other
be found in Revenue Notice #06-07, which
• Conform with federal regulations and be
funds on which MinnesotaCare tax is not
is available on our website.
subject to review and supervision by:
imposed.
— an institutional review board, if the
If you have questions about the research
research involves human subjects;
credit or need help filing your return, please
contact us.
— an institutional animal care and use
committee, if the research involves
• Email: MinnesotaCare.tax@state.mn.us
animals subjects; or
• Phone: 651-282-5533
(12/14)

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Go