Hospital And Surgical Center Taxes - Minnesota Department Of Revenue (Page 2 of 2) in pdf

MinnesotaCare Estimated Tax Instructions

(continued)

Estimated Tax for Calendar Year

Refer to the MinnesotaCare Provider, Hospital, and Surgical Center Taxes Instructions.

1 Estimate your total gross receipts for the current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

2 Estimate your total exemptions for the current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Estimated taxable receipts for the current year (subtract step 2 from step 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4 Estimated MinnesotaCare tax liability for the current year [multiply step 3 by 2% (0.02)] . . . . . . . . . . . . . . . . . . . . . . . 4

5 Multiply step 4 by 90% (0.90) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

6 Enter 100% of your actual MinnesotaCare tax for the prior year (from last year’s annual return) . . . . . . . . . . . . . . . . . . 6

7 Required Annual Estimated Tax Payment. Enter the amount from step 5 or step 6, whichever is less . . . . . . . . . . . . 7

8 Divide step 7 by 12. This is the minimum estimated tax payment you must pay each month . . . . . . . . . . . . . . . . . . . . 8

Record of Estimated Tax Payments Made

Record the estimated tax payments you make during the year. You will need this information when you file your annual MinnesotaCare tax

return.

Date Paid

Confirmation Number

Amount Paid

January payment (due February 15) . . . . . . . . . . . . . . . . . .

February payment (due March 15) . . . . . . . . . . . . . . . . . . .

March payment (due April 15) . . . . . . . . . . . . . . . . . . . . . . .