Electronic Funds Transfer (Eft) Authorization - Minnesota Department Of Revenue Page 5
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15Tax payments
If your total tax for 2001 will be $500 or more, you must make regular
Calendar year 2001
tax payments during the year. Tax payments are due quarterly for
due dates
health-care providers and monthly for hospitals and surgery centers.
If your total tax for 2001 will be less than $500, you may choose to pay
Health-care providers — Your
the tax when you file your 2001 MinnesotaCare annual tax return in
quarterly tax payments are due no
2002.
later than:
April 16
October 15
Payment options
If you are making quarterly or
July 16
January 15, 2002
monthly tax payments, you may
MinnesotaCare taxes can be paid
Hospitals and surgery centers —
choose to pay:
electronically through electronic
Your monthly tax payments are
the actual tax on the receipts you
funds transfer (EFT) or by sending
due no later than:
received for the quarter (or
a check in the mail. However, you
February 15
August 15
month, if you are a hospital or
may be required to pay your taxes
March 15
September 17
surgery center), or
electronically (see Electronic
April 16
October 15
payment requirements below).
estimate the tax you owe for the
May 15
November 15
quarter (or month, if you are a
June 15
December 17
See the payment options on page 4.
hospital or surgery center). You
July 16
January 15, 2002
may be required to pay interest if
Due dates
your estimated payment is less
Interest on
than the required amount. For
Your tax payments are due no later
information on the interest on
than the 15th day of the month
underpaid tax
underpaid tax, see the section on
following the end of the quarter (or
this page.
month, if you are a hospital or
If you are required to make quar-
surgery center) in which you
terly or monthly tax payments, you
If you choose to pay the actual tax
received the receipts. If the due
may be required to pay interest on
on the receipts you received for the
date falls on a weekend or holiday,
underpaid tax if any payment was
quarter (or month), complete the
your payment is due no later than
less than the required amount or
2001 tax worksheet on page 11.
the next business day.
was not paid on time.
The instructions begin on page 6.
The interest on underpaid tax is
based on the difference between
Electronic payment requirements (EFT)
the tax you actually paid for 2001
and the lesser of:
You are required to pay your MinnesotaCare tax electronically if:
• 90 percent of your actual tax for
your MinnesotaCare tax for the entire year is $120,000 or more, or
2001, or
• your actual tax for 2000 (line 12
you are required to pay any Minnesota business tax electronically. If
of your 2000 annual tax return
so, you must pay all Minnesota taxes electronically, including your
worksheet).
MinnesotaCare taxes.
The rate of interest is 9 percent.
A penalty may be assessed if you are required to make payments by EFT
The amount of interest you must
and the payments are remitted by some other means. The penalty is 5
pay, if any, is determined after the
percent of each payment that should have been remitted electronically.
end of the calendar year when you
file your annual tax return.
To register to pay electronically, complete and return the EFT authoriza-
tion form on page 13.
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