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Minnesota Federal Adjustments
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with TurboTaxExtracted from PDF file 2022-minnesota-form-kpcnc.pdf, last modified October 2020Federal Adjustments
2022 Schedule KPCNC, Federal Adjustments *227331* Minnesota has generally adopted the Internal Revenue Code as amended through December 15, 2022. This schedule allows for any remaining necessary adjustments required to file a state tax return. Read the instructions before completing this schedule. Tax year beginning , 2022, ending Partner’s Name Partnership’s Name Partner’s Federal ID Number Partnership’s Federal ID Number Partnership’s Minnesota ID Number Enter as a positive or negative. Round amounts to the nearest whole dollar. Adjustments to federal taxable income (FTI) 1 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Modification for business interest limitation (CARES Act Sec. 2306) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Employer credit for paid medical leave and Employer payroll credit for required paid family leave (FFCRA Sec. 7001, 7003) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Temporary allowance of full deduction for business meals (COVIDTRA Sec. 210) . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Credit for COBRA Continuation Coverage (ARPA Sec. 9501) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 9995 2022 KPCNC, page 2 *227341* Partner’s Name Partner’s Federal ID Number Partnership’s Name Partnership’s Minnesota ID Number Partnership’s Federal ID Number 20 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 29 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 30 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 31 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 32 Total lines 1-31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 You must include this schedule when you file Schedule KPC. 9995 2022 Schedule KPCNC Instructions Corporate or partnership partner’s use of information provided on Schedule KPCNC Purpose of Schedule KPCNC Schedule KPCNC is a supplemental schedule provided by the partnership to its corporate or partnership partners. The partners need this information to complete one of the following: • Minnesota Schedule M4NC if you are a C corporation partner • Minnesota Schedule KSNC if you are an S corporation partner flowing income to shareholders • Minnesota Schedule KPINC or Schedule KPCNC if you are a partnership partner flowing income to partners These instructions are intended to help you report your share of the partnership’s nonconformity adjustments on your Minnesota return. You must include Schedule KPCNC when you file your Minnesota return. If you do not include the schedule with your return as required, your return processing will be delayed. If you receive an amended Schedule KPCNC from the partnership and your nonconformity adjustments have changed, you must file an amended Minnesota return. To amend your return, use one of the following: • Form M4X, Amended Franchise Tax Return, if you are a corporate partner • Form M8X, Amended S Corporation Return, if you are an S corporation partner • Form M3X, Amended Partnership Return, if you are a partnership partner Line Instructions Line 1 This line intentionally left blank. Line 2 This line intentionally left blank. Line 3 This line intentionally left blank. Line 4 This line intentionally left blank. Line 5 – Modification of Business Interest Limitation (CARES Act Sec. 2306) C Corporations: Include this amount in the calculation of Schedule M4NC, line 5 or Form M4I, line 1b. S Corporations: Pass this information through, pro rata, to shareholders on Schedule KSNC, line 5. Partnerships: Pass this information through, pro rata, to partners on Schedule KPINC, line 5 or Schedule KPCNC, line 5. Line 6 This line intentionally left blank. Line 7 – Employer Credit for Paid Medical Leave and Employer Payroll Credit for Required Paid Family Leave (FFCRA Sec. 7001, 7003; ARPA Sec. 9641) C Corporations: Include this amount on Schedule M4NC, line 7. S Corporations: Pass this information through, pro rata, to shareholders on Schedule KSNC, line 7. Partnerships: Pass this information through, pro rata, to partners on Schedule KPINC, line 7 or Schedule KPCNC, line 7. Line 8 This line intentionally left blank. Line 9 This line intentionally left blank. Line 10 This line intentionally left blank. Line 11 This line intentionally left blank. Line 12 This line intentionally left blank. Continued 1 2022 Schedule KPCNC Instructions (continued) Line 13 - Temporary Allowance of Full Deduction for Business Meals (TCDTR20 Sec. 210) C Corporations: Include this amount on Schedule M4NC, line 14. S Corporations: Pass this information through, pro rata, to shareholders on Schedule KSNC, line 13. Partnerships: Pass this information through, pro rata, to partners on Schedule KPINC, line 13, or Schedule KPCNC, line 13. Line 14 This line intentionally left blank. Line 15 This line intentionally left blank. Line 16 This line intentionally left blank. Line 17 – Credit for COBRA Continuation Coverage (ARPA Sec. 9501) C Corporations: Include this amount on Schedule M4NC, line 18. S Corporations: Pass this information through, pro rata, to shareholders on Schedule KSNC, line 17. Partnerships: Pass this information through, pro rata, to partners on Schedule KPINC, line 17, or Schedule KPCNC, line 17. Lines 18 Through 30 These lines are intentionally left blank. Line 31 This line intentionally left blank. Line 32 – Total Enter the total of lines 1 through 31. 2
2022 KPCNC, Federal Adjustments
More about the Minnesota Form KPCNC Corporate Income Tax
We last updated the Federal Adjustments in February 2023, and the latest form we have available is for tax year 2022. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Minnesota Department of Revenue. You can print other Minnesota tax forms here.
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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 KF | Beneficiary's Share of Minnesota Taxable Income |
| Form M4NP Instructions | Unrelated Business Income Tax (UBIT) Return Instructions |
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 KPCNC from the Department of Revenue in February 2023.
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 KPCNC
We have a total of two past-year versions of Form KPCNC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2022 Form KPCNC
2022 KPCNC, Federal Adjustments
2021 Form KPCNC
2021 KPCNC, Federal Adjustments
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