Minnesota Unrelated Business Income Tax (Ubit) Instructions - Minnesota Department Of Revenue - 2017 Page 7
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7Schedule M4NPA
(continued)
Unitary Businesses Only
Line 11
Sales of Non-filing Entities
Minnesota Nonapportionable Income
All sales of a unitary business attributable to
Enter the income included on line 2 of
Minnesota must be included on the group’s
Schedule M4NPA that is assigned to
combined return. On line 7 of the Form
Minnesota.
M4NPA, enter all sales of the unitary busi-
ness attributable to Minnesota that are not
included on line 6. (M.S. 290.17, subd. 4[h])
Line 9
Minnesota Apportionment Factor
Divide column 8a by column 8b and carry
the result to six decimal places. Enter the
result on line 9. This is your sales factor.
The sales factor includes all sales, rents,
gross earnings or receipts received in the
ordinary course of your business, except:
• interest
• dividends
• sales of capital assets under IRC section
1221
• sales of property used in the business,
except sales of leased property that is
regularly sold as well as leased
• sales of stock or sales of debt instruments
under IRC section 1275(a)(1).
Apportionment for Financial Institutions
In general, a financial institution is any
The following is considered Minnesota
• receipts for regulated financial institu-
national or state bank, bank holding
income:
tions from securities, based on the ratio
company, savings and loan, or any other
• interest income from loans secured by
of total deposits from Minnesota to total
corporation that does business that a bank
real or tangible personal property located
deposits in and outside Minnesota;
or other financial institution would be
in Minnesota;
• receipts for nonregulated financial
authorized to do.
• interest on consumer loans not secured
institutions from securities, based on
by real or tangible personal property if
the ratio of gross business income
Financial institutions complete Form
the borrower is a Minnesota resident;
from Minnesota to total gross business
M4NPA the same way that other nonprofit
income;
• interest on commercial loans not secured
organizations would, with the exception
by real or tangible personal property if
• receipts from secondary market assets
of sales.
the proceeds are applied in Minnesota;
treated in the same way as securities;
Line 6
• merchant discount income if the mer-
• receipts from the performance of ser-
Sales or Receipts Factor
chant is located in Minnesota;
vices received in Minnesota.
Financial institutions use a receipts factor
• receipts from travelers checks if pur-
instead of a sales factor.
chased in Minnesota;
• receipts from credit cards if regularly
Include the gross income from activities
billed in Minnesota;
in the ordinary course of business, includ-
ing income from securities and money
market instruments.
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