Form Kpc - Partner'S Share Of Income, Credits And Modifications - 2012
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32012 KPC
(for corporate and partnership partners)
Partner’s Share of Income, Credits and Modifications 2012
Partnership: Complete and provide Schedule KPC to each corporate or partnership partner that is domiciled in another
state and to any Minnesota corporate or partnership partner who has adjustments to income . For individual, estate and trust
partners, use Schedule KPI instead .
Amended KPC:
Tax year beginning
, 2012 and ending
FEIN of partner ultimately
Partner’s federal ID number
Partnership’s federal ID number
Partnership’s Minnesota ID
taxed (see instructions):
Partner’s name
Partnership’s name
JOBZ ID number, if any
Legal address
Address
City
State
Zip code
City
State
Zip code
Entity of partner
Exempt
Partner’s distributive
S corporation
C corporation
Partnership
(check one box):
organization
share:
%
Round amounts to the nearest dollar.
Corporate and Partnership Partners
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1 Nonapportionable Minnesota source income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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2 Total nonapportionable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
3 Job Opportunity Building Zone (JOBZ) business exemption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
4 JOBZ zone investment income (partnership partner’s share) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
5 Partnership’s minimum fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
6 State income taxes deducted in arriving at partnership’s net income . . . . . . . . . . . . . . . . . . . . . .
7
7 Interest income exempt from federal tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
8 100% of partner’s distributive share of federal bonus depreciation . . . . . . . . . . . . . . . . . . . . . . . .
9
9 Federal subsidies paid to employers for providing prescription drug coverage for their retirees .
10 If the partnership elected section 179 expensing, enter the partner’s
10
flow-through section 179 expensing for Minnesota purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
11 Fines, fees and penalties deducted federally as a trade or business expense . . . . . . . . . . . . . . . .
12 Expenses deducted that are attributable to income not taxed by Minnesota
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(other than interest or mutual fund dividends from U .S . bonds) . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
13 Addition due to federal changes not adopted by Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
14 Extraterritorial income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15 Interest from U .S . government bond obligations, minus any expenses
15
deducted on the federal return that are attributable to this income . . . . . . . . . . . . . . . . . . . . . . . .
16
16 Subtraction due to federal changes not adopted by Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
17 Employer Transit Pass Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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18 Credit for increasing research activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19
19 Credit for historic structure rehabilitation and enter NPS project number:
. .
20
20 Enterprise Zone Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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21 Jobs Credit for participating in a JOBZ zone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Property
Payroll
Sales
Apportionment information (partner’s share)
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22 Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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23 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Partnership: Include this schedule and copies of federal Schedules K and K-1 with your Form M3.
Partner:
Include this schedule when you file your Form M3, M4 or M8.
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