Legend Drug Use Tax - Minnesota Department Of Revenue

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MinnesotaCare Estimated Tax Instructions
Legend Drug Use Tax
Electronic Payment
Estimated Tax Payment
Credit or Debit Card
For a fee, you may charge your payments to
Requirements
Requirements
your Visa, MasterCard, American Express,
You are required to pay electronically if
If you expect your total annual Minneso-
or Discover credit or debit card. To do
your tax liability was more than $10,000
taCare tax liability to be more than $500,
so, have your card ready and go to www.
for any one Minnesota business tax during
you must make quarterly estimated tax
or call 1-855-947-2966.
the previous fiscal year (July 1–June 30).
payments based on your required annual
ACH Credit
estimated tax payment.
If you are required to pay any Minnesota
ACH credit payments are initiated by you
business tax electronically for one year,
Required Annual Estimated Tax Payment.
through your bank. You authorize your
you must pay all Minnesota business taxes
The required annual estimated tax payment
bank to transfer funds to the state’s bank
is the lesser of 90 percent of your actual tax
electronically for all future years.
account. The bank must use ACH file for-
for the current year or 100 percent of your
A 5 percent penalty will be assessed if you
mats, which are available on our website.
actual tax for the previous year.
fail to pay electronically when required,
Your bank may charge you a fee for these
To determine your required annual estimat-
even if a check payment is received on
payments.
ed tax payment and the minimum amount
time.
Bank Wire
you must pay each quarter, complete the
Electronic Payment Options
You can authorize a direct transfer from
worksheet on page 2.
your bank account to the Minnesota Depart-
e-Services
Additional Charge for Underpayment of
ment of Revenue. For information on how
Estimated Tax. If any payment is paid late
You can make payments online using our
to make a bank wire transfer, call us at 651-
or is less than the required amount, an ad-
e-Services system. If you choose this op-
556-3003 or 1-800-657-3909.
ditional tax charge (ATC) for underpayment
tion, you’ll be able to view a record of your
Information and Assistance
of estimated tax will be assessed.
payments online once the payments are
processed.
Website:
The department’s e-Services system will
calculate the additional charge, if any, when
Go to our website at
Email:
MinnesotaCare.tax@state.mn.us
you file your annual MinnesotaCare tax
mn.us and log in to e-Services. You’ll need
Phone: 651-282-5533
return.
your bank’s routing number and your ac-
Weekdays, 8 a.m. – 4:30 p.m.
count number.
Due Dates
This information is available in alternate
To be timely, you must submit your transac-
Quarterly estimated tax payments are due
formats.
tion and receive a confirmation number
by the 15th day of April, July, and October
on or before the payment due date. When
of the current year and January 15 of the
paying electronically, you may not use an
following year.
account associated with a foreign bank.
If the due date falls on a weekend or legal
holiday, payments electronically made or
postmarked the next business day are con-
sidered timely.
Continued
1
(Rev. 1/18)

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