Schedule Kpc - Partner'S Share Of Income, Credits And Modifications - 20166 Page 4
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4Schedule KPC Instructions 2016
(continued)
Line 17—Enterprise Zone Credit
If the partnership and partner are con-
Line 13—Research Credit
C corporations: Include this amount on
sidered unitary under Minnesota Statutes
C corporations: Include this amount on
Form M4, line 4. Be sure to enclose a copy
290.17, subd. 4, [disregarding paragraph
Schedule RD, line 30. Enclose a copy of this
of this schedule with Form M4.
(e) (50 percent indirect or direct ownership
schedule with Form M4.
needed for unity of ownership)] these fac-
S corporations: Schedule KS, line 14. You
S corporations: Schedule KS, line 10.
tors are included with the partners’ own fac-
must enclose a copy of this schedule even if
tors in determining the income apportioned
Partnerships: Schedule KPI, line 10, or KPC,
you are passing the credit through to your
to Minnesota on the partner’s supplemental
13.
shareholders.
schedule. (The supplemental schedule is
Line 14—Greater Minnesota Internship
Partnerships: Schedule KPI, line 14 or KPC,
Form M4A for corporate partners or M3A
Credit
line 17. You must enclose a copy of this
for partnership partners.) The partner’s
C corporations: Include this amount on
schedule even if you are passing the credit
entire income is then multiplied by the part-
Form M4, line 6. Be sure to enclose a copy
through to your partners.
ner’s apportionment ratio to determine the
of this schedule with Form M4.
Minnesota portion of its income.
S corporations: Pass this information
Apportionment Factors
If the partner is not unitary with the
through, pro rata, to shareholders on Sched-
partnership, it will use only these factors
Line 18 - Minnesota Source Gross
ule KS, line 11.
to calculate the Minnesota apportionment
Income
ratio to be used in determining the Minne-
Partnerships: Pass this information through,
Minnesota source gross income is used to
sota source income from that K-1. It will be
pro rata, to partners on Schedule KPI, line
determine whether an eventual nonresident
the same ratio as the partnership’s Min-
11, or KPC, line 14.
partner has a filing requirement with the
nesota apportionment ratio, and it will be
state of Minnesota. This line will help tiered
Line 15—Historic Structure Rehabilita-
multiplied by the K-1 income to determine
partnerships determine their Minnesota
tion Credit
the Minnesota portion of income from that
source gross income.
C corporations: Include this amount and the
partnership.
NPS project number on Form M4, line 5. Be
Minnesota source gross income is the total
sure to enclose a copy of this schedule with
of the amounts apportioned to Minnesota
Form M4.
that are included on lines 3, 4, 6 and 7 (other
than losses) of federal Form 1065; lines
S corporations: Schedule KS, line 12 and
18a, 19 and 20 (other than losses) of federal
include the NPS project number.
Form 8825; line 9 of Schedule F; lines 3a, 5,
Partnerships: Schedule KPI, line 12 or KPC,
6a, 7, 8, 9a, 10 and 11 of Schedule K (Form
line 15 and include the NPS project number.
1065); plus Minnesota source gross income
from other partnerships which the entity
Line 16—Employer Transit Pass
may be a partner. The apportionment factors
C corporations: Include this amount on
are used to determine the Minnesota ap-
Form M4T, line 19. Be sure to enclose a
portioned income.
copy of this schedule with Form M4.
S corporations: Schedule KS, line 13. You
must enclose a copy of this schedule even if
you are passing the credit through to your
shareholders.
Partnerships: Schedule KPI, line 13 or KPC,
line 16. Be sure to enclose a copy of this
schedule even if you are passing the credit
through to your partners.
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