Form M4x - Amended Franchise Tax Return/claim For Refund - 2016 Page 7
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7Form M4X Instructions 2016
(continued)
Line 36
Line 31
Electronic Payment Options
If you are expecting a refund, you must
If line 29 is a negative amount, treat it as a
• To pay over the Internet, go to our
provide the requested banking information
positive amount and add it to line 30. Enter
website at and
to have the full amount deposited directly
the result on line 31. This is the amount
login.
into your bank account. You must use an ac-
you owe, which is due when you file your
• If you don’t have Internet access, call
count not associated with any foreign banks.
amended return. You cannot use any funds
1-800-570-3329 to pay by phone.
in your estimated tax account to pay this
Your bank statement will indicate when
For both methods,
follow the prompts for
amount. Continue with line 32.
your refund was deposited to your account.
a business to make a corporation franchise
tax payment.
You’ll
need your Minnesota
Line 32
This refund cannot be applied to your esti-
tax ID number, password and banking in-
mated tax account.
If only one of the penalties below applies,
formation. When paying electronically, you
you must multiply line 31 by 10 percent
must use an account not associated with any
(.10). If both penalties apply, multiply line
Signature
foreign banks.
31 by 20 percent (.20). Enter the result on
The return must be signed by a person
line 32.
Note: If you’re using the system for the first
authorized by the corporation.
time and you need a temporary password,
• The IRS assessed a penalty for negli-
call 651-282-5225 or 1-800-657-3605.
Preparer information
gence or disregard of rules or regula-
tions, and/or
If you pay someone to prepare your return,
After you authorize the payment, you’ll re-
• You failed to report federal changes
the preparer must sign the return and
ceive a confirmation number. You can can-
to the department within 180 days as
enter his or her PTIN number and daytime
cel a payment up to one business day before
required.
phone number. If you check the box after
the scheduled payment date, if needed.
the preparer’s signature, you authorize the
Line 34
Credit or debit card. For a fee, you can use
department to discuss the return with the
Interest is calculated as simple interest and
your credit or debit card to make a payment
preparer.
through Value Payment Systems, a national
accrues on unpaid tax and penalties from
company that partners with federal, state
the regular due date until it is paid in full.
For additional information
and local governments to provide credit and
Use the formula below with the appropriate
Website:
debit card payment services.
interest rate:
Email:
BusinessIncome.Tax@state.mn.us
To do so:
Interest = line 33 x number of days past
the due date x interest rate ÷ 365
• Go to payMNtax.com; or
Phone: 651-556-3075
The interest rate is determined each Octo-
• Call 1-855-9-IPAY-MN.
This material is available in alternate
ber for the following calendar year. The rate
The Department of Revenue does not have
formats.
for 2017 is 4 percent. Rates for years after
any financial agreement with Value Pay-
2017 will be available on our website.
ment Systems and does not receive any of
If the days fall in more than one calendar
its fees.
year, you must determine the number of
ACH credit method and Fed Wire. If you
days separately for each year.
use other electronic payment methods,
Penalty will be assessed if the additional tax
such as ACH credit method or Fed Wire, be
and interest are not paid with the amended
sure to check with your bank or Fed Wire
return.
representative to find out when to initiate
the payment in order for it to be received on
Line 35
time. Some banks require up to three busi-
If your estimated tax payments during the
ness days to transfer funds.
last 12-month period ending June 30 totaled
Paying by Check
$10,000 or more, you are required to make
If you’re not required to pay electronically
all tax payments electronically starting
and are paying by check, visit our website
January 1 of the following year. Once you
at and click on
meet the electronic payment threshold, you
“Make a Payment” and then “By check” to
are required to pay electronically for all
create a voucher. Print and mail the voucher
future periods.
with your check payable to Minnesota
You must also pay electronically if you’re
Revenue.
required to pay any Minnesota business
tax electronically, such as sales or withhold-
Your check authorizes us to make a one-time
electronic fund transfer from your account.
ing tax. See Payment Method under line 12
You may not receive your cancelled check.
Penalty on page 5.
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