Corporation Estimated Tax Instructions - Minnesota Department Of Revenue

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Corporation Estimated Tax Instructions
Filing Requirements
current year Form M4 as a worksheet to
cancel a payment up to one business day be-
determine your Minnesota estimated tax.
fore the scheduled payment date, if needed.
A corporation with an estimated tax of more
than $500 must make quarterly payments
To change your tax-year end, go to our
Credit card. For a fee, you can use your
based on its required annual payment. A
website at , login
credit or debit card to make a payment
corporation is not required to pay estimated
and update your business information. Or,
through Value Payment Systems, a national
taxes the first year it is subject to tax in
call our Business Registration office at 651-
company that partners with federal, state and
Minnesota.
282-5225 or 1-800-657-3605.
local governments to provide credit and debit
Required annual payment. The required
card payment services.
Unitary Businesses
annual payment is the lesser of 100 percent
Unitary businesses must select one member
To do so:
of the prior year’s tax liability or 100 per-
to make estimated tax payments and repre-
• Go to payMNtax.com; or
cent of the current year’s tax liability. The
sent the other members of the group in tax
• Call 1-855-9-IPAY-MN.
required annual payment must be paid in
matters. This member is the “designated
equal installments unless certain excep-
The Department of Revenue does not have
filer.” Estimated tax payments made for
tions apply (see instructions for Schedule
any financial agreement with Value Payment
unitary returns are kept in the account of
M15C).
Systems and does not receive any of its fees.
the designated filer on behalf of the compa-
For a large corporation, the required annual
nies included in the return. When the return
ACH credit method and Fed Wire. If you use
payment is 100 percent of the current year’s
is filed, these payments will be claimed
other electronic payment methods, such as
tax liability. A large corporation is one
against the combined tax liability of the
ACH credit method or Fed Wire, be sure to
that had Minnesota taxable net income of
unitary business.
check with your bank or Fed Wire representa-
$1 million or more in any of the three prior
tive to find out when to initiate the payment
Any overpayment of estimated tax will be
tax years. For the first quarter only, a large
in order for it to be received on time. Some
refunded to the designated filer or credited
corporation may base its installment on
banks require up to three business days to
to the designated filer’s estimated tax ac-
100 percent of the prior year’s tax liability.
transfer funds.
count.
Any reduction in the installment because
Check Payment Option
of using this method must be added to the
Electronic Payment
second installment. For making a large cor-
If you’re not required to pay electronically
Requirements
poration determination, a unitary business
and are paying by check, visit our website
If your estimated tax payments during the
is considered one corporation.
at and click on
last 12-month period ending June 30 was
“Make a Payment” and then “By check” to
Due dates. Quarterly installments are due
$10,000 or more, you are required to pay
create a voucher. Print and mail the voucher
by the 15th day of the third, sixth, ninth and
your tax electronically starting January 1 of
with your check payable to Minnesota Rev-
12th months of your tax year.
the following year. Also, if you’re required
enue.
Installments for a short tax year are due in
to pay any Minnesota business tax elec-
When you pay by check, your check autho-
equal payments on the 15th day of the third,
tronically, such as sales and withholding
rizes us to make a one-time electronic fund
sixth, ninth and final months of the tax year
tax, you’re required to pay all Minnesota
transfer from your account. You may not
depending on the number of months in the
taxes electronically—including corporation
receive your cancelled check.
short tax year. No installments are required
franchise estimated tax.
for a short tax year of fewer than four
Note for unitary businesses. Enter the infor-
Failure to pay electronically when required
months.
mation for the group’s designated filer.
may result in a penalty being assessed. The
If the due date falls on a weekend or legal
penalty is 5 percent of each payment that
For the tax-year ending date, enter the
holiday, payments electronically made or
should have been remitted electronically,
ending date of the tax year for which the
postmarked the next business day are con-
but was remitted by some other means.
estimated tax payments are being made. The
sidered timely.
same date is used for all four quarterly pay-
Electronic Payment Options
Underpaying installments. If you under-
ments. For example, if your tax year ends on
• Go to and
pay any installment or did not pay by the
Dec. 31, 2018, enter December 2018 for all
login; or
four payments.
due dates, an additional charge for under-
• Call 1-800-570-3329 to pay by phone.
payment will be added to your tax (see
If your income is reported using a 52-53 week
For both methods, follow the prompts for
Schedule M15C).
year, enter the month that ends nearest the
a business to make a corporation fran-
Minnesota tax ID number. If you don’t
last day of your taxable year. For example, if
chise estimated tax payment. You’ll need
your taxable year goes from July 29, 2018 to
have a Minnesota tax ID number, you must
your Minnesota tax ID number, password
August 3, 2019 (53 weeks), enter July 2019
apply for one. You can apply online at
and banking information. When paying
on all four payment vouchers.
or by calling 651-
electronically, you must use an account not
282-5225 or 1-800-657-3605.
associated with any foreign banks.
Information and Assistance
Determining your estimated tax. Deter-
Website:
Note: If you’re using the system for the first
mine your federal estimated tax by filling
Email:
BusinessIncome.tax@state.mn.us
time and you need a temporary password,
out the federal corporation estimated tax
Phone: 651-556-3075
call 651-282-5225 or 1-800-657-3605.
worksheet (Form 1120-W). Then use the
This material is available in alternate formats.
After you authorize the payment, you’ll
receive a confirmation number. You can
(Rev. 6/17)

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