Occupation Tax Return Instructions - Minnesota Department Of Revenue

Occupation Tax Return Instructions - Minnesota Department Of Revenue - 2016 Page 6

M30-I Line Instructions

(continued)

Line 20

Line 21

Line 24

Subtractions for Prior Addbacks of

Other Deductions

Net Operating Loss Deduction

Enter all allowable deductions, including

A net operating loss incurred in a prior year

Federal Bonus Depreciation and Excess

federal adjustments, not included elsewhere

and not previously used to offset net income

IRC Section 179 Expensing

on Form M30-I.

may be deducted on line 24.

If you added back 80 percent of the federal

bonus depreciation and/or the excess IRC

Examples of items to include are:

Complete and attach Schedule M30-NOL,

section 179 expensing in any of the last five

Net Operating Loss Deduction.

• amortizations of mining exploration

years, enter on line 20 one-fifth of the added

expenses, research and experimentation

back amount(s) (M.S. 290.01, subd. 19d[15]

costs; or

and [16]).

• other write-offs of capitalized expenses.

Attach a detailed schedule for line 20.

Enter the total on line 21 and attach a de-

tailed schedule.

Occupation Tax Return Instructions - Minnesota Department Of Revenue - 2016 Page 6