×
tax forms found in
Tax Form Code
Tax Form Name

Minnesota Free Printable 2017 Schedule M1B, Business and Investment Credits for 2020 Minnesota Business and Investment Credits

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2018-minnesota-form-m1b.pdf, and you can print it directly from your computer.

Business and Investment Credits
2017 Schedule M1B, Business and Investment Credits

*171671* 2017 Schedule M1B, Business and Investment Credits Complete this schedule to determine line 26 of Form M1. Include this schedule when filing your return. Your First Name and Initial Last Name Your Social Security Number 1 Angel Investment Tax Credit (enclose DEED certificate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Credit for historic structure rehabilitation (enclose certificate) Enter National Park Service (NPS) project number . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Greater Minnesota Internship Credit (enclose certificate from qualifying institution) . . . . . . . . . . . 3 4 Enterprise Zone Credit (enclose DEED certificate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Add lines 1 through 4. Enter total here and on line 26 of Form M1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 You must include this schedule with your Form M1. 9995 2017 Schedule M1B Instructions Should I file Schedule M1B? Complete Schedule M1B, Business and Investment Credits, if you qualify for any of the following credits as a sole proprietor or if you received a credit as a partner of a partnership, shareholder of an S corporation, or beneficiary of a trust as reported on the Schedule KPI, KS, or KF that you received: • Angel Investment Tax Credit (enclose DEED certificate); • Credit for historic structure rehabilitation (enclose SHPO certificate); • Greater Minnesota Internship Credit (enclose credit certificate from the qualifying institution); or • Enterprise Zone Credit (enclose DEED certificate). Is there a penalty for fraudulently claiming a refund? Yes. If you file a return that fraudulently claims a credit, you will be assessed a penalty equal to 50 percent of the fraudulently claimed credit. Line 1 Angel Investment Tax Credit If you made an investment in certain small Minnesota businesses, you may be eligible for a refundable income tax credit. The credit is equal to 25 percent of any new investment in a qualified business. The maximum credit is $125,000, or $250,000 for a married couple filing jointly. The Department of Employment and Economic Development (DEED) certifies investors, investment funds, and businesses as being eligible to participate in the credit program. DEED also allocates credits to eligible taxpayers who make qualifying investments subject to a statutory maximum annual appropriation. If you made a qualified investment in a Minnesota small business in 2017, enter the amount listed on the Angel Investment Tax Credit Certificate issued to you by DEED, and enclose a copy of the certificate. If a credit has been assigned to you, enter the amount from your Assignment of Credit certificate, and enclose a copy of the certificate. For more information, visit the DEED website at www.positivelyminnesota.com Greater Minnesota Internship Credit Line 2 Credit for Historic Structure Rehabilitation If you made qualified improvements to a historic property in Minnesota, and those improvements qualify for the federal Historic Rehabilitation Credit under IRC section 47, you may be eligible for a Minnesota credit. The Minnesota credit is equal to 100 percent of the federal credit, provided that you filed an application with the State Historic Preservation Office (SHPO) of the Minnesota Historic Society and meet all other conditions of eligibility. The credit is generally allowed when the project is completed. Enter the amount of the credit and National Park Service number listed on the credit certificate issued by SHPO upon completion of the project. Note: The Department of Revenue reserves the right to audit any amount claimed. Enclose a copy of the credit certificate when you file your Minnesota return. Line 3 If you own or operate a business that hired a qualified student for an internship in greater Minnesota, you may be eligible for a refundable income tax credit. The credit is equal to 40 percent of the wages paid to the student or $2,000, whichever is less. Other statutory limitations may apply. The Office of Higher Education (OHE) and eligible institutions certify eligible employers and determine the total credit each eligible employer may receive. If you were certified to be eligible for the Greater Minnesota Internship Credit, enter the amount of credit you were certified for, and enclose a copy of the certificate. Include the total of amounts reported to you on: • Schedule KS, line 12; • Schedule KPI, line 12; and • Schedule KF, line 20. For more information, visit the OHE website: www.ohe.state.mn.us. If you are eligible for the federal Historic Rehabilitation Credit through an interest in a partnership, S corporation, estate or trust, enter the amount of the credit from your Schedule KPI, KS, or KF. Line 4 If you receive a grant in lieu of the credit for the entire amount, you are not eligible for the tax credit. However, if you received a grant for a portion of the claimed amount, you may be eligible for a partial credit. If you qualify, you would have received paperwork from DEED. Include a copy of the documentation with Form M1. Assignment of credit. If you are eligible for this credit but have assigned it to another taxpayer, you may not claim the portion of the credit that you assigned. Enterprise Zone Credit The Enterprise Zone Credit is a refundable credit for sole proprietors, partners of a partnership, or shareholders of an S corporation. Include the total of amounts reported to you on: • Schedule KS, line 15; and • Schedule KPI, line 15.
Extracted from PDF file 2018-minnesota-form-m1b.pdf, last modified September 2017

More about the Minnesota Form M1B Individual Income Tax Tax Credit

We last updated the Business and Investment Credits in February 2019, and the latest form we have available is for tax year 2018. 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.

Other Minnesota Individual 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 M1PR Instructions Homestead Credit Refund and Renter’s Property Tax Refund Instruction Booklet
Form M1PR Homestead Credit Refund (for Homeowners) and Renters Property Tax Refund
Form M1 Individual Income Tax Return
Form M1M Income Additions and Subtractions (onscreen version)
Form M1W Minnesota Income Tax Withheld (onscreen version)

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 M1B from the Department of Revenue in February 2019.

Show Sources >

Form M1B is a Minnesota Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Minnesota Form M1B

We have a total of eight past-year versions of Form M1B in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 Form M1B

2017 Schedule M1B, Business and Investment Credits

2017 Form M1B

2015 Schedule M1B, Business and Investment Credits

2016 Form M1B

2015 Schedule M1B, Business and Investment Credits

2015 Form M1B

2015 Schedule M1B, Business and Investment Credits

Business and Investment Credits (onscreen version) 2014 Form M1B

2013 Schedule M1B, Business and Investment Credits

2013 Business and Investment Credits (onscreen version) 2013 Form M1B

2011 Schedule M1B, Business and Investment Credits

2012 Form M1B

2006 M1M, Income Additions and Subtractions

2011 Form M1B

2011 Schedule M1B, Business and Investment Credits


TaxFormFinder Disclaimer:

While we do our best to keep our list of Minnesota Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/minnesota/form-m1b