Minnesota Corporation Franchise Tax Return (Forms M4, M4I, M4A and M4T)

Corporation Franchise Tax Return (Forms M4, M4I, M4A and M4T)
2025 M4, Corporation Franchise Tax Return
*254011*

2025 M4, Corporation Franchise Tax Return
/

Tax year beginning (MM/DD/YYYY)

/

and ending (MM/DD/YYYY)

Name of Corporation/Designated Filer

Do not use staples on anything you submit.

/

/

FEIN

Mailing Address

Check if new address

Minnesota Tax ID Number

Business Activity Code (from federal)

City

State

Former Name (if changed since previous year return)

Federal Consolidated Common Parent Name (if different) FEIN

Check if filing a combined income return

Check if reporting Tax Position Disclosure (Enclose Form TPD)

Is this your final C corporation return? If yes, indicate if:
Withdrawn

Dissolved

Merged

ZIP Code

Check if a member of the group (place an X in the boxes that apply):
is claiming
Public Law
86-272

S corp election

is a Co-op

is in Bankruptcy

Has a federal examination been finalized? (list years)

owns a captive
insurance
company

Is a federal examination now in progress? (list years)

Report changes to federal income tax
within 180 days of final determination.
If there is a change in tax, you must report
it on Form M4X.

Tax years and expiration date(s) of federal waivers:

You must round amounts
to nearest whole dollar

1 Minnesota tax liability (from M4T, line 28). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Minnesota Nongame Wildlife Fund donation (see instructions, pg. 6) . . . . . . . . . . . . . . . .

2

3 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Enterprise Zone Credit (attach Enterprise Zone Credit Form). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Credit for Historic Structure Rehabilitation (attach credit certificate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Enter National Park Service (NPS) project number:
6 Credit for Sustainable Aviation Fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Enter certificate number from the Department of Agriculture:
7 Minnesota refundable credit for increasing research activities (from RD, line 37). . . . . . . . . . . . . . . . . . . . . 7
8 Minnesota backup withholding. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
9 Amount credited from your 2024 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Total corporate estimated tax payments made for 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
11 2025 extension payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
12 Add lines 4 through 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
13 Tax due. If line 3 is more than line 12, subtract line 12 from line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

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Continued next page

2025 M4, Page 2
*254021*
Name of Corporation/Designated Filer

FEIN

Minnesota Tax ID

14 Penalty (see instructions, pg. 6 and 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
15 Interest (see instructions, pg. 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
16 Additional charge for underpayment of estimated tax (attach Schedule M15C) . . . . . . . . . . . . . . . . . . . . . 16
17 AMOUNT DUE. If you entered an amount on line 13, add lines 13 through 16
Payment Method:

Electronic (see inst., pg. 3), or

Check (see inst., pg. 3) . . . . . . . . . . . . . . . . . 17

18 Overpayment. If line 12 is more than the sum of lines 3 and 14 through 16, subtract line 3
and 14 through line 16 from line 12. If line 12 is less than the sum of lines 3 and 14 through 16,
see instructions, pg. 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
19 Amount of line 18 to be credited to your 2026 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 REFUND. Subtract line 19 from line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
If you have a refund, you must enter your banking information below.
Account Type:
Checking

Savings

Routing Number

Account Number (use an account not associated with any foreign banks)

I declare that this return is correct and complete to the best of my knowledge and belief.

Authorized Signature
Signature of Preparer

Title

/
/
Date (MM/DD/YYYY)

Direct Phone

PTIN

/
/
Date (MM/DD/YYYY)

Preparer’s Direct Phone

Title

Direct Phone

Print name of person to contact within corporation to discuss this return

Include a complete copy of your federal return including schedules as filed with the IRS.
If you’re paying by check, see instructions, page 3.
Mail to: Minnesota Department of Revenue
Mail Station 1250
600 N. Robert St.
St. Paul, MN 55146-1250

9995

I authorize the Minnesota Department of Revenue
to discuss this tax return with the preparer.
I do not want my paid preparer to file my return
electronically.

*254111*

2025 M4I, Income Calculation
See instructions beginning on page 8.
Name of Corporation/Designated Filer

FEIN

Minnesota Tax ID

You must round amounts
to nearest whole dollar

1 a. Federal taxable income before net operating loss deduction and special deductions
(from federal Form 1120, line 28, or see inst., pg. 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a
b. Interest expense limitation for combined reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b
2 Additions to income
a. Federal deduction taken for taxes based on net income and minimum fee. . . . .2a
b. Federal deduction for capital losses (IRC sections 1211 and 1212) . . . . . . . . . . . .2b
c. Interest income exempt from federal income tax. . . . . . . . . . . . . . . . . . . . . . . . . . 2c
d. Exempt interest dividends (IRC section 852[b][5]) . . . . . . . . . . . . . . . . . . . . . . . . .2d
e. Losses from mining operations subject to occupation tax . . . . . . . . . . . . . . . . . . .2e
f. Federal deduction for percentage depletion (IRC sections 611-614 and 291) . . . 2f
g. Federal bonus depreciation and suspended loss (IRC section 168[k]). . . . . . . . . .2g
h. Addition due to federal changes not adopted by Minnesota
(Schedule M4NC, line 31) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2h
i. This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2i
j. This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2j
k. This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2k
Total additions (add lines 2a through 2k) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Total (add lines 1a, 1b, and 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

9995

2025 M4I, Page 2
*254121*

See instructions beginning on page 9.
Name of Corporation/Designated Filer

FEIN

4 Subtractions from income
a. Refund of taxes based on net income included in federal
taxable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a
b. Minnesota deduction for capital losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b
c. Certain federal credit expenses (see instructions, pg. 10; attach schedule) . . . . 4c
d. Gross-up for foreign taxes deemed paid under IRC section 78 . . . . . . . . . . . . . . 4d
e. Expenses relating to income taxable by Minnesota, but federally exempt . . . . . 4e
f. Dividends paid by a bank to the U.S. government on preferred stock . . . . . . . . .4f
g. Income/gains from mining operations subject to the occupation tax . . . . . . . . 4g
h. Deduction for cost depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4h
i. Subtraction for prior bonus depreciation addback . . . . . . . . . . . . . . . . . . . . . . . .4i
j. This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4j
k. Delayed business interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4k
l. Deferred foreign income (Section 965) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4l
m. Disallowed section 280E expenses of a licensed cannabis or hemp business . .4m
n. Employee Retention Credit subtraction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4n
o. Subtraction due to federal changes not adopted by Minnesota
(Schedule M4NC, line 31, as a positive number) . . . . . . . . . . . . . . . . . . . . . . . . . . 4o
p. This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4p
q. This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4q
r. This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4r
Total subtractions (add lines 4a through 4r). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Intercompany eliminations (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
6 Add lines 4 and 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6
7 Minnesota net income (subtract line 6 from line 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 Total nonapportionable income (see instructions, pg. 11; attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . 8
9 Minnesota apportionable income (subtract line 8 from line 7). Enter on Form M4T, line 1 . . . . . . . . . . . . 9

9995

Minnesota Tax ID

*254211*

2025 M4A, Apportionment/Fee Calculation
B1

B2

B3

Single/Designated Filer

Corporation Name
FEIN
Minnesota Tax ID

A

Total in and
outside Minnesota

In Minnesota

In Minnesota

In Minnesota

1 Average inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a1
2 Average tangible property and
land owned/used (at original cost) . . . . . . . . . . . . . . . . . . . . . . . a2

b1

c1

b2

c2

3 Capitalized rents (gross rents x 8). . . . . . . . . . . . . . . . . . . . . . . . . a3

b3

c3

4 Total property (add lines 1, 2 and 3) . . . . . . . . . . . . . . . . . . . . . . a4

b4

c4

5 Payroll/officer’s compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . a5

b5

c5

6 MN sales or receipts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a6

b6

c6

7 MN sales of non-filing entities (see instructions pg. 12). . . . . . . a7

b7

c7

b8

c8

b9

c9

MINIMUM FEE CALCULATION (see inst., pg. 13)
10 Adjustments (see inst., pg. 13 and 14; attach schedule) . . . .a10

b10

c10

11 Add lines 4, 5, 8 and 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a11

b11

c11

12 Minimum fee (see table below) . . . . . . . . . . . . . . . . . . . . . . . .a12
Enter amounts on Form M4T, line 16.

b12

c12

8 Sales or receipts (add lines 6 and 7)
(Financial institutions: see inst., pg. 14) . 8
a8
9 Minnesota apportionment factor (divide each
line 8B amount by line 8A; carry to six decimal places) . . . . . . . a9
Enter amounts on Form M4T, line 2.

Minimum Fee Table
If the amount
Enter this amount
on line 11 is:
on line 12:
less than $1,250,000 .................................................
$0
1,250,000 to $2,509,999 ...........................................
$260
$2,510,000 to $12,539,999 .......................................
$750
$12,540,000 to $25,069,999 ..................................... $2,510
$25,070,000 to $50,139,999 ..................................... $5,020
$50,140,000 or more ................................................. $12,540

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*254311*

2025 M4T, Tax Calculation

B1

B2

Single/designated filer

B3

Corporation Name
FEIN
Minnesota Tax ID
1 Minnesota apportionable income
(enter amount from M4I, line 9, in each column) . . . . . . . . . . a1

b1

c1

b2

c2

b3

c3

2 Apportionment factor (from M4A, line 9) . . . . . . . . . . . . . . . . a2
3 Net income apportioned to Minnesota
(multiply line 1 by line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a3
4a Minnesota nonapportionable income
(see inst., pg. 15; attach schedule) . . . . . . . . . . . . . . . . . . . . . a4a
4b Minnesota nonunitary partnership income
(see inst., pg. 15; attach schedule) . . . . . . . . . . . . . . . . . . . . . a4b

b4a

c4a

b4b

c4b

5 Taxable net income (add lines 3, 4a, and 4b). . . . . . . . . . . . . . a5

b5

c5

6 Net operating loss deduction (from NOL) . . . . . . . . . . . . . . . . a6

b6

c6

7 Subtract line 6 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . a7

b7

c7

8 Deduction for dividends received (see inst., pg. 15). . . . . . . . . a8

b8

c8

9 Taxable income (subtract line 8 from line 7) . . . . . . . . . . . . . . a9
10 Regular tax (multiply line 9 by 0.098;
if result is zero or less, leave blank) . . . . . . . . . . . . . . . . . . . . a10

b9

c9

b10

c10

11 Alternative minimum tax (AMT) (from AMTT, line 10) . . . . . a11

b11

c11

12 Add lines 10 and 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a12

b12

c12

13 AMT credit (from AMTT, line 13). . . . . . . . . . . . . . . . . . . . . . . a13

b13

c13

14 Minnesota nonrefundable credit for increasing
research activities (from RD, line 46) . . . . . . . . . . . . . . . . . . . a14

b14

c14

15 Subtract lines 13 and 14 from line 12. . . . . . . . . . . . . . . . . . . a15

b15

c15

16 Minimum fee (from M4A, line 12). . . . . . . . . . . . . . . . . . . . . . a16

b16

c16

17 Tax liability by corporation (add lines 15 and 16) . . . . . . . . . a17

b17

c17

18 Film Production Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . a18

b18

c18

19 Tax Credit for Owners of Agricultural Assets (see inst.). . . . . a19

b19

c19

20 Employer Transit Pass Credit (from ETP, line 4) . . . . . . . . . . . a20

b20

c20

Enter the credit certificate number: TAXC -

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Continued next page

2025 M4T, Page 2
*254321*

B1

B2

Single/designated filer

B3

Corporation Name
FEIN
Minnesota Tax ID

21 State Housing Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a21
Enter the credit certificate number from Minnesota Housing: SHTC 22 Short Line Railroad Infrastructure Modernization Credit . . . a22
Enter certificate number from the certificate you received
from the Minnesota Department of Transportation: MN-SLR

b21

c21

b22

c22

b23

c23

–

–

23 Credit for Sales of Manufactured Home Parks to
Cooperatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a23
24 Carryover credits from prior years (see instructions) . . . . . . a24
D — Name of Credit
E — Certificate Number

c24

b24

F — Unused Credit

G — MNID

d1

e1

f1

g1

d2

e2

f2

g2

d3

e3

f3

g3

25 LIFO Recapture Tax Deferral . . . . . . . . . . . . . . . . . . . . . . . . . . a25

b25

c25

26 Add lines 18 through 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a26

b26

c26

27 Subtract line 26 from line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . a27

b27

c27

28 Add all amounts on line 27. This is your MINNESOTA TAX LIABILITY
Enter on Form M4, line 1.

9995

28