Occupation Tax Return Instructions - Minnesota Department Of Revenue

Occupation Tax Return Instructions - Minnesota Department Of Revenue - 2016 Page 3

M30 Line Instructions

Complete Forms M30-I, M30-G

Late Filing. If you file after the extended

Signatures

due date and owe tax, you must pay an ad-

The return must be signed by a person

and applicable schedules before

ditional penalty for filing late. The late-filing

authorized by the mining company.

completing Form M30.

penalty is 5 percent of the unpaid tax on

If you paid someone to prepare your return,

line 7.

the preparer must also sign and provide

Line 2

Balance Not Paid. An additional penalty

his or her PTIN number. Check the box

Minnesota Nongame Wildlife Fund

of 5 percent of the unpaid tax is due if the

after the preparer’s signature if you want

You can help preserve Minnesota’s rare and

return is filed after the regular due date with

to authorize the department to discuss this

endangered animals and plants by donating

a balance due, and that balance is not paid

return with the preparer.

to this fund. Your donation will be added to

at the time of filing.

your total tax and will decrease your refund

or increase your balance due.

Payment Method. If you are required to

pay electronically and do not, an additional

For more information about the fund, go

5 percent penalty applies to payments not

to the Minnesota Department of Natural

made electronically, even if a paper check is

Resources website at

sent on time.

Line 4

Line 9

Amount Credited From 2015 Return

Interest

If your 2015 return showed an overpayment

You must pay interest on the unpaid tax

that was to be credited to your 2016 tax,

plus penalty from the regular due date until

enter that amount on line 4.

the total is paid. To determine interest, use

Line 8

the formula below with the appropriate

interest rate (the rate for 2016 is 3 percent):

Penalty

Penalties are collected as part of the tax.

Interest =

Late Payment. A penalty is due if you don’t

(tax + penalty) × # of days late × interest rate ÷ 365

pay at least 90 percent of your total tax by

Rates for years after 2016 will be available

the regular due date. The penalty is 6 per-

on our website.

cent of the unpaid tax on line 7.

There is no penalty if at least 90 percent

of your total tax is paid by the regular due

date, and any remaining balance is paid by

the extended due date. You must calculate

interest, however, on the remaining balance.

Occupation Tax Return Instructions - Minnesota Department Of Revenue - 2016 Page 3

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