Schedule Kpc - Partner'S Share Of Income, Credits And Modifications - 2015 Page 4
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42015 Schedule KPC Instructions
(continued)
Apportionment Factors
Line 18—Employer Transit Pass
Line 11—Fines, Fees and Penalties
C corporations: Include this amount on
C corporations: Include this amount on
Line 21 - Minnesota Sourced Gross
Form M4T, line 21. Be sure to enclose a
Form M4I, line 2j. Enclose a copy of this
Income
copy of this schedule with Form M4.
schedule with Form M4.
Minnesota source gross income is used to
determine whether an eventual nonresident
S corporations: Schedule KS, line 14. You
S corporations: Pass this information
partners has a filing requirement with the
must enclose a copy of this schedule even if
through, pro rata, to shareholders on Sched-
state of Minnesota. This line will help tiered
you are passing the credit through to your
ule KS, line 7.
partnerships determine their Minnesota
shareholders.
Partnerships: Schedule KPI, line 6, or KPC,
source gross income.
Partnerships: Schedule KPI, line 14 or KPC,
line 11.
Minnesota sourced gross income is the total
line 17. Be sure to enclose a copy of this
Line 13—Net Interests on U.S. Bonds
of the amounts apportioned to Minnesota
schedule even if you are passing the credit
C corporations: Not applicable
that are included on lines 3, 4, 6 and 7 (other
through to your partners.
than losses) of federal Form 1065; lines
S corporations: Pass this information
Line 19—Enterprise Zone Credit
18a, 19 and 20 (other than losses) of federal
through, pro rata, to shareholders on Sched-
C corporations: Include this amount on
Form 8825; line 9 of Schedule F; lines 3a, 5,
ule KS, line 9.
Form M4, line 4. Be sure to enclose a copy
6a, 7, 8, 9a, 10 and 11 of Schedule K (Form
of this schedule with Form M4.
Partnerships: Schedule KPI, line 8, or KPC,
1065); plus Minnesota sourced gross income
line 13.
from other partnerships which the entity
S corporations: Schedule KS, line 15. You
may be a partner. The apportionment factors
must enclose a copy of this schedule even if
Line 15—Research Credit
are used to determine the Minnesota ap-
you are passing the credit through to your
C corporations: Include this amount on
portioned income.
shareholders.
Schedule RD, line 30. Enclose a copy of this
schedule with Form M4.
If the partnership and partner are con-
Partnerships: Schedule KPI, line 15 or KPC,
sidered unitary under Minnesota Statutes
line 19. You must enclose a copy of this
S corporations: Schedule KS, line 11.
290.17, subd. 4, [disregarding paragraph
schedule even if you are passing the credit
Partnerships: Schedule KPI, line 11, or KPC,
(e) (50 percent indirect or direct ownership
through to your partners.
15.
needed for unity of ownership)] these fac-
Lines 20—Jobs Credit for Participating
tors are included with the partners’ own fac-
Line 16—Greater Minnesota Internship
in a JOBZ Zone
tors in determining the income apportioned
Credit
C corporations: Include this amount on
to Minnesota on the partner’s supplemental
C corporations: Include this amount on
Form M4, line 5, and enclose a copy of this
schedule. (The supplemental schedule is
Form M4, line 7. Be sure to enclose a copy
schedule when you file your return.
Form M4A for corporate partners or M3A
of this schedule with Form M4.
for partnership partners.) The partner’s
S corporations: Include this amount on
S corporations: Pass this information
entire income is then multiplied by the part-
Form M8, line 11, or if you are passing it
through, pro rata, to shareholders on Sched-
ner’s apportionment ratio to determine the
through to your shareholders, enter the
ule KS, line 12.
Minnesota portion of its income.
shareholder’s pro rata share on Schedule
KS, line 16. You must enclose a copy of
Partnerships: Pass this information through,
If the partner is not unitary with the
this schedule with your Form M8, even if
pro rata, to partners on Schedule KPI, line
partnership, it will use only these factors
you are passing the credit through to your
12, or KPC, line 16.
to calculate the Minnesota apportionment
shareholders.
ratio to be used in determining the Minne-
Line 17—Historic Structure Rehabilita-
sota source income from that K-1. It will be
Partnerships: Schedule KPI, line 16 or KPC,
tion Credit
the same ratio as the partnership’s Min-
line 20. Be sure to enclose a copy of this
C corporations: Include this amount and the
nesota apportionment ratio, and it will be
schedule when you file your return even if
NPS project number on Form M4, line 6. Be
multiplied by the K-1 income to determine
you are passing the credit through to your
sure to enclose a copy of this schedule with
the Minnesota portion of income from that
partners.
Form M4.
partnership.
S corporations: Schedule KS, line 13 and
include the NPS project number.
Partnerships: Schedule KPI, line 13 or KPC,
line 17 and include the NPS project number.
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