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Minnesota Free Printable 2023 M2MT, Alternative Minimum Tax for estates and trusts for 2024 Minnesota Alternative Minimum Tax

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Alternative Minimum Tax
2023 M2MT, Alternative Minimum Tax for estates and trusts

*232211* 2023 Schedule M2MT, Alternative Minimum Tax for Estates and Trusts Name of Estate or Trust Federal ID Number Minnesota ID Number Check if you are using this schedule to determine Minnesota AMT for Schedule M2SB, Income Tax Computation for S Portion of ESBT (see instructions) A B Amount allocated Total amount to Minnesota (round amounts to the nearest whole dollar) 1 Federal alternative minimum taxable income (from line 27 of federal Schedule I) . . 1 2 Fiduciary’s deductions and losses not allowed by Minnesota (see instructions) . . . . 2 3 Portion of additions from line 74, column E, of Form M2 (see instructions) . . . . . . . 3 4 Foreign-derived intangible income (FDII) deduction not included in federal AMTI . . 4 5 Add line 1 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Portion of subtractions from line 74, column E of Form M2 (see instructions) . . . . . 6 7 Subtract line 6 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 If line 7, column A is $43,990 or less, stop here . Skip the rest of this schedule, but include with Form M2. 8 Divide line 7, column B by line 7, column A (round the result to five decimal places) 8 9 Maximum exemption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Phaseout amount exemption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 $43,990 $75,000 11 Subtract line 10 from line 7, column A (if result is zero or less, leave blank) . . . . . . 1 1 12 Multiply line 11 by 25% (.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 13 Subtract line 12 from line 9 (if result is zero or less, leave blank) . . . . . . . . . . . . . . . 1 3 14 Multiply line 13 by line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 4 15 Subtract line 14 from line 7, column B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 5 16 Multiply line 15 by 6.75% (.0675) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 6 17 Tax from line 10 of Form M2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 7 18 Subtract line 17 from line 16 (if result is zero or less, leave blank) . Also enter the result on line 12 of Form M2 and check the box for M2MT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 8 You must include this schedule and a copy of federal Schedule I when you file your Form M2. 9995 2023 Schedule M2MT Instructions Who Must File Schedule M2MT If you were required to complete federal Schedule I, Alternative Minimum Tax, or if the income shown on line 5, column A of this schedule is more than $43,990, you must complete Schedule M2MT and include it when you file your Minnesota Form M2, Income Tax Return for Estates and Trusts. Line Instructions For lines 1 through 6, column A, enter the total amounts allocated to the fiduciary. In column B, enter the portion of column A that are income amounts from Minnesota sources. Line 1 Under column A, enter the amount from line 27 of federal Schedule I. Under column B, enter the amount allocated to Minnesota. Line 2 Allocate direct expenses to the income to which they are associated. Allocate indirect expenses to each class of income in the proportion that each class of income bears to the total income. Add back on line 2 only the expenses that relate to the non-Minnesota income not included in column B. See Schedule M2NM instructions for additional information regarding expenses and losses from non-Minnesota sources. Line 3 Of the total amount of additions allocated to the fiduciary (line 4 of Form M2), determine the portion that is from lines 41 and 44 through 48 of Form M2. Subtract any private activity bond interest shown as a tax preference item on federal Schedule I, but only to the extent the interest was from nonMinnesota source bonds. Enter the result of these additions under column A. Enter the amount allocated to Minnesota in column B. Line 4 Include on line 4 the amount of foreign-derived intangible income (FDII) deducted under section 250 of the Internal Revenue Code to the extent the amount is not included in federal alternative minimum taxable income. Line 6 Of the total amount of subtractions allocated to the fiduciary (line 6 of Form M2), determine the portion that is from lines 57 through 64 of Form M2. Enter the result in column A. Enter the amount allocated to Minnesota in column B. Line 8 This ratio gives you the percentage of all sources of alternative minimum taxable income that is allocated to Minnesota. Line 9 This is the statutory maximum exemption that is allowed for estates and trusts. Line 10 This is the statutory base income amount that is allowed for estates and trusts to limit or reduce the exemption. Electing Small Business Trust (ESBT) Alternate Instructions (using Schedule M2SB) If you are completing Schedule M2MT for the S Portion of an Electing Small Business Trust (ESBT), check the box at the top of Schedule M2MT and use these alternate instructions for the referenced lines: Line 1 Under column A, enter the Federal alternative minimum taxable income determined for the S Portion of the ESBT. Include the federal computation when you file Form M2 and Schedules M2SB and M2MT. Under column B, enter the amount allocated to Minnesota. Line 3 Enter the total of lines 12 and 15 through 19 of Schedule M2SB. Subtract any private activity bond interest used in the determination of the S Portion’s federal alternative minimum taxable income, but only to the extent the interest was from non-Minnesota source bonds. Enter the result of these additions under column A. Enter the amount allocated to Minnesota in column B. Line 6 Enter the total of lines 28 through 35 of Schedule M2SB. Enter the result in column A. Enter the amount allocated to Minnesota in column B. Line 17 Enter the total tax from line 9 of Schedule M2SB. Line 18 Subtract line 17 from line 16 (if result is zero or less, leave blank). Also enter the result on line 10 of Schedule M2SB.
Extracted from PDF file 2023-minnesota-form-m2mt.pdf, last modified October 2023

More about the Minnesota Form M2MT Corporate Income Tax TY 2023

We last updated the Alternative Minimum Tax in February 2024, so this is the latest version of Form M2MT, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form M2MT directly from TaxFormFinder. You can print other Minnesota tax forms here.


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Other Minnesota Corporate Income Tax Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form M8 S Corporation Return (M8 and M8A)
Form M4NP Unrelated Business Income Tax (UBIT) Return
Form KS Shareholder's Share of Income, Credits and Modifications
Form M3-M3A Partnership Return
Form M4 Corporation Franchise Tax Return (Forms M4, M4I, M4A and M4T)

Download all MN tax forms View all 96 Minnesota Income Tax Forms


Form Sources:

Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form M2MT from the Department of Revenue in February 2024.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Minnesota Form M2MT

We have a total of thirteen past-year versions of Form M2MT in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form M2MT

2023 M2MT, Alternative Minimum Tax for estates and trusts

2022 Form M2MT

2022 M2MT, Alternative Minimum Tax for estates and trusts

2021 Form M2MT

2021 M2MT, Alternative Minimum Tax for estates and trusts

2020 Form M2MT

2020 M2MT, Alternative Minimum Tax for estates and trusts

2019 Form M2MT

2019 M2MT, Alternative Minimum Tax for estates and trusts

2018 Form M2MT

2018 M2MT, Alternative Minimum Tax for estates and trusts

2017 Form M2MT

2016 M2MT, Alternative Minimum Tax for estates and trusts

2016 Form M2MT

2016 M2MT, Alternative Minimum Tax for estates and trusts

2015 Form M2MT

2008 M2MT, Alternative Minimum Tax for estates and trusts

Alternative Minimum Tax 2014 Form M2MT

2008 M2MT, Alternative Minimum Tax for estates and trusts

2013 Alternative Minimum Tax 2013 Form M2MT

2008 M2MT, Alternative Minimum Tax for estates and trusts

2012 Form M2MT

2008 M2MT, Alternative Minimum Tax for estates and trusts

2011 Form M2MT

2011 M2MT, Alternative Minimum Tax for estates and trusts


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