Minnesota Unrelated Business Income Tax (UBIT) Return Instructions

Unrelated Business Income Tax (UBIT) Return Instructions
2025 M4NP Series
*256651*

2025 M4NP, Unrelated Business Income Tax (UBIT) Return

For tax-exempt organizations, cooperatives, homeowners associations, and political organizations with unrelated business
income. Refer to 2025 Unrelated Business Income Tax Return Instructions on our website at www.revenue.state.mn.us.
Tax year beginning (MM/DD/YYYY)

/

/

, and ending (MM/DD/YYYY)

Name of Organization

/

(required)

FEIN

Mailing Address

Check if New Address

City
Check All
That Apply:

/

County
Amended
Return

Are you filing a combined income return?

State

Filing Under
an Extension
Yes

Minnesota Tax ID (Required)

This Organization Files Federal Form (Check one)
990-T

ZIP Code

1120-C

1120-H

1120-POL

Exempt Under IRS Section (Check one)

Final Return (refer to inst., pg. 4)
Enter Close Date:
No

501(c)(
)
528
Enter your NAICS Codes (Refer to inst., pg. 4)
/

Other:

Was any business conducted outside of Minnesota?
Yes (Complete and attach schedule M4NPA)

Check if reporting Tax Position Disclosure (Enclose Form TPD)

No

You must round amounts to nearest whole dollar.
1 Federal taxable income before net operating loss and specific deduction
(total from all federal Form 990-T Schedule As, Part II line 16; 1120-C, line 25c;
1120-H, line 17; or 1120-POL, line 17c)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 1

2 Total additions to federal taxable income (from Form M4NPI, line 1)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .2
3 Federal taxable income after additions (add lines 1 and 2)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3
4 Total subtractions from federal taxable income (from Form M4NPI, line 2)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4
5 Federal taxable income (loss) after subtractions (refer to instructions). If you conducted business both
within and outside Minnesota, complete Form M4NPA (refer to to instructions, pg. 4). If 100% of your
activities were conducted in Minnesota, do not complete Form M4NPA. Enter line 5 on line 6.  .  .  .  .  . 5
6 Minnesota taxable net income (loss) (from Form M4NPA, line 10.) If 100% of your activities
were conducted in Minnesota, enter amount from line 5 above.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 6
7 Minnesota net operating loss deduction (from Form M4NP NOL)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 7
8 Subtract line 7 from line 6 (if zero or less, enter zero)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 8
9 Total deductions from taxable net income (from Form M4NPI, line 3) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 9
10 Taxable income (subtract line 9 from line 8; if zero or less, enter zero)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .10
11 Regular tax (multiply line 10 by 9.8% [0.098]; if zero or less, enter zero)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .11
12 Proxy tax (refer to instructions, pg. 4)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 12
13 Tax before credits (add lines 11 and 12)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 13
14 Total credits against tax (from Form M4NPI, line 4)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 14
15 Minnesota tax liability (subtract line 14 from line 13; if zero or less, enter zero)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 15

9995

Continued next page

2025 M4NP, UBIT Return Page 2 (continued)
Name of Organization

FEIN

Minnesota Tax ID

16 Minnesota Nongame Wildlife Fund donation (refer to instructions, pg. 4)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 16
17 Add lines 15 and 16  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 17
18 Total refundable credits (from Form M4NPI, line 5)  .  .  .  .  .  .  .  .  .  .  .  .  .  . 18
19 Amount credited from your 2024 Form M4NP, line 32  .  .  .  .  .  .  .  .  .  .  . 19
20 2025 estimated tax payments  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 20
21 2025 extension payment  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 21
22 Total refundable credits and payments (add lines 18, 19, 20, and 21)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 22
23 Subtract line 22 from line 17  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 23
24 Penalty (determine from worksheet in the instructions, pg. 5)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 24
25 Interest (determine from worksheet in the instructions, pg. 5)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 25
26 Additional charge for underpayment of estimated tax (from Form M15NP, line 17)  .  .  .  .  .  .  .  .  .  .  .  .  .  . 26
27 Tax, Nongame Wildlife Fund donation, penalty, interest and additional
charge for underpayment of estimated tax (add lines 17, 24, 25, and 26)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 27
28 Amount from line 27  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 28
29 Amount from line 22  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 29
30

AMOUNT DUE. If line 28 is more than or equal to line 29, subtract line 29 from 28  .  .  .  .  .  .  .  .  .  .  .  .  .  . 30
Payment method:
Electronic
(Refer to instructions, page 2.)

Check

31

OVERPAYMENT. If line 29 is more than line 28,
subtract line 28 from line 29  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 31

32

Amount of line 31 to be credited to your 2026 estimated tax  .  .  .  .  .  . 32

33

Refund (subtract line 32 from line 31)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 33

Amended Return Payment by Check

To have your refund direct deposited, 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

Title

/
/
Date (MM/DD/YYYY)

Daytime Phone

Signature of Preparer

PTIN

/
/
Date (MM/DD/YYYY)

Prepayer’s Daytime Phone

Email Address for Correspondence, if Desired

This email address belongs to (check one)

Attach a complete copy of your federal Form 990-T, 1120-C, 1120-H or 1120-POL and all supporting schedules.
Mail to: Minnesota Department of Revenue, Mail Station 1257, 600 N. Robert St., St. Paul, MN 55146-1257

9995

Employee

Paid Preparer

I authorize the Minnesota
Department of Revenue
to discuss this tax return with
the paid preparer listed here.

2025 M4NPI, Income Adjustments, Deductions and Credits

*256651*

For tax-exempt organizations, cooperatives, homeowners associations, and political organizations with unrelated business
income. Refer to 2025 Unrelated Business Income Tax Return Instructions on our website at www.revenue.state.mn.us.

Name of Organization

1

2

FEIN

You must round amounts
to nearest whole dollar.
Additions to federal taxable income due to changes not adopted by Minnesota
Enter on Form M4NP, line 2 (you must provide a brief explanation below)
 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 1
Subtractions from federal taxable income
a Advertising revenues from a newspaper published by a
section 501(c)(4) organization  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2 a
b Lawful gambling expenditures under Minnesota Statutes, Chapter 349,
not deducted on federal return (refer to insturctions, pg. 7)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .2b
c
d

Charitable contributions (refer to instructions, pg. 7)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2 c
Subtractions due to federal changes not adopted by Minnesota
(you must provide a brief explanation below)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2 d

e

Other subtractions from income (you must provide a brief explanation below)
 .  . 2 e

Total subtractions (add lines 2a through 2e) Enter on Form M4NP, line 4.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2
3

4

Minnesota Tax ID

Deductions from taxable net income
a Federal specific or special deductions  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3 a
b Other deductions (you must provide a brief explanation below)
 .  . 3 b
Total deductions from taxable net income (add lines 3a and 3b)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3
Enter on Form M4NP, line 9.
Credits against tax
a Employer Transit Pass Credit (from Form ETP, line 4)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4 a
b SEED Capital Investment Credit (refer to instructions, pg. 7)  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4 b
c

Tax Credit for Owners of Agricultural Assets  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4 c

d Manufactured Home Park Credit (from Form MHP, part 2, line 2). . . . . . . . . . 4 d
e Other credits against tax (you must provide a brief explanation below)
 .  . 4 e
Total credits against tax (add lines 4a through 4e)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4
Enter on Form M4NP, line 14.
5 Refundable credits
a Historic Structure Rehabilitation Credit (attach credit certificate)
and enter NPS project number
 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 5 a
b Other refundable credits (you must provide a brief explanation below)
 .  . 5 b
Total refundable credits (add lines 5a and 5b)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 5
9995
Enter on Form M4NP, line 18.

*256651*

2025 M4NPA, Apportionment Calculation
For tax-exempt organizations, cooperatives, homeowners associations, and political organizations with unrelated business
income. Refer to 2025 Unrelated Business Income Tax Return Instructions on our website at www.revenue.state.mn.us.
If you conducted business both within and outside Minnesota during the year, complete Schedule M4NPA to determine your
Minnesota source income. Do not complete this schedule if you conducted all your business in Minnesota during the tax year.

Name of Organization

FEIN

Minnesota Tax ID

You must round amounts
to nearest whole dollar.

1

Federal taxable income (loss) (from Form M4NP, line 5) . . . . . . 1

2

Total nonapportionable income .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2

3

Total apportionable income
(subtract line 2 from line 1)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3

4

Sales or receipts  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4

5

Sales of non-filing entities (refer to inst., pg. 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

6 Total sales or receipts (add lines 4 and 5) (Financial institutions: refer to inst., pg. 11)  .  .  .  . 6
7 Minnesota apportionment factor (divide line 6A
amount by line 6B; carry to six decimal places) . . . . . . . . . . . . . 7
8

Net income apportioned to Minnesota
(multiply line 3 by line 7)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 8

9

Minnesota nonapportionable income .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 9

10 Minnesota taxable income
(add lines 8 and 9) Enter on Form M4NP, line 6 . . . . . . . . . . . 10

9995

A

B

Minnesota

Total