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Schedule M4NPI

Subtractions

b. SEED Capital Investment Credit

b. Historic Structure Rehabilitation Credit

If you invest in a qualified business in

To qualify for this credit, you must be

Include any subtractions you may have

Breckenridge, Dilworth, East Grand Forks,

eligible for the federal Historic Rehabilita-

received as a partner in a partnership (in-

Moorhead or Ortonville, and the business

tion Credit for improving a certified historic

clude Schedule KPC with your return).

has been certified by the Minnesota Depart-

structure located in Minnesota and have

ment of Employment and Economic Devel-

your application approved by the State

Line 1

opment as qualifying for the SEED capital

Historic Preservation Office (SHPO) of the

a. Advertising

investment program, you may qualify for

Minnesota Historical Society. For details,

Enter revenues from a newspaper published

this credit.

go to

by a section 501(c)(4) organization.

The credit is equal to 45 percent of the

On line 4b, enter the NPS project number

b. Lawful Gambling Expenditures

amount invested in a qualified business,

and credit amount from the credit certificate

Certain lawful gambling expenditures are

up to $112,500 per year. The credit may be

you received from SHPO. Include the credit

not allowed on the federal return. Enter the

carried forward for up to four years.

certificate when you file your return.

amount of expenditures noted in Minnesota

Statutes 349 that are not claimed on your

c. Other Credits Against Tax

c. Other Refundable Credits

federal return.

If other credits against tax enacted into

If other refundable credits enacted into

law apply to you for the tax year, enter the

c. Other Subtractions

amount on line 3c. Be sure to provide an

amount on line 4c. Be sure to provide an

If other subtractions enacted into law apply

explanation on the space provided.

to you for the tax year, enter the amount on

line 1c. Be sure to provide an explanation

Refundable Credits

on the space provided.

Include any credits you may have received

Deductions

as a partner in a partnership (include

Schedule KPC with your return).

Include any deductions you may have

received as a partner in a partnership (in-

Line 4

clude Schedule KPC with your return).

a. Greater Minnesota Internship Credit

Line 2

For each intern hired through the Greater

a. Other Deductions

Minnesota Internship Program make the

If other deductions enacted into law apply

following calculation:

to you for the tax year, enter the amount on

1 Wages paid to the intern

line 2a. Be sure to provide an explanation

during the tax year

1__________

on the space provided.

2 Multiply line 1 by 0.4

2__________

Credits Against Tax

3 Enter the amount on

Credits against tax are nonrefundable and

line 2 or $2,000,

are limited to your tax liability.

Include any

whichever is less

3__________

credits you may have received as a partner

Add the amounts for all interns and enter

in a partnership (include Schedule KPC

the total on Form M4NPI, line 4a. Attach to

with your return).

your return a copy of the Greater Minnesota

Internship Tax Credit 2017 Internship Pro-

Line 3

vider/Employer Agreement for each intern

a. Employer Transit Pass Credit

and a copy of the annual report regard-

If you purchase transit passes to sell or give

ing student interns/employees that you’re

to your employees, you may be eligible for

required to file with the Minnesota Office of

this credit. The credit is 30 percent of the

Higher Education.

difference between the price you paid for

the passes and the price charged employ-

ees. Complete and attach Schedule ETP,

Employer Transit Pass Credit.

Minnesota Unrelated Business Income Tax (Ubit) Instructions - Minnesota Department Of Revenue - 2017 Page 5

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