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Minnesota Free Printable M500, Reporting of JOBZ Tax Benefits for Tax Year for 2021 Minnesota Amended JOBZ M500 (Revised 1/12)

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Amended JOBZ M500 (Revised 1/12)
M500, Reporting of JOBZ Tax Benefits for Tax Year

Amended JOBZ M500 Year M500X Use this form to amend Form M500, and to report the sales tax incentives the qualified business received for participating in a Job Opportunity Building Zone (JOBZ), Name of qualified business Taxpayer name (if different from JOBZ business) JOBZ ID number Business address in the zone FEIN City State Minnesota tax ID number MN Zip code County Taxpayer: C-Corporation S-Corporation Partnership Individual Fiduciary Other (specify): Business contact’s name (first, last) Title Daytime phone Email address of qualified business (optional) Primary parcel ID (if more than one, attach a sheet) Reason for amend Reason for amending Form M500 Zone tax benefits 1 Did you receive any zone tax benefits in the year you are amending? Yes. Continue with line 2. Zone tax benefits No. Explain your situation below, sign at the bottom and file this form by the due date: Sales tax exemptions 2 Purchases you made of tangible personal property (not including capital equipment or purchases exempt as a part of product production cost) and services primarily used or consumed in the zone in the year you are amending, that would otherwise have been taxable . . . . . . . . . . . 2 3 Purchases you and/or your contractor made of construction materials and supplies used to construct or improve real property used by the qualified business in the zone in the year you are amending . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Purchases made of motor vehicles that are principally garaged in the zone and primarily used to carry out your zone operations in the year you are amending (enter each vehicle’s VIN number and purchase price; if you have more than 4 vehicles, complete Form M500A, JOBZ Motor Vehicle Purchase Report - see instructions) . . . . . . . . . . . . . . . . . . . . . . 4 VIN $ VIN VIN $ VIN 5 Is the qualified business located in an area with a local sales and use tax (see instructions)? . . . . . . . . . . . . . . . . . . . . . . . . . . 5 No Yes Sign here I declare that this report is correct and complete to the best of my knowledge and belief. Rev. 1/12 Signature of authorized representative of qualified business Date Do not include Form M500 with your tax return. Mail this form to: Minnesota Revenue Mail Station 9901 St. Paul, MN 55146-9901 Phone: 651-556-6836 Fax: 651-556-3102 $ $ Enter the area: Form M500X instructions Important news If you are a qualified business, failure to submit Form M500 will result in removal from the JOBZ program. You will also be subject to repayment of prior JOBZ tax benefits received. This form is used to amend Form M500, reporting sales and use tax benefits you received for participating in a Job Opportunity Building Zone (JOBZ). Qualified business You are a qualified business if your place of business is located within a JOBZ zone and you have signed a Business Subsidy Agreement with the zone administrator. County and parcel ID number Enter the county in which the qualified business is located. Enter the property’s primary parcel ID or property ID number assigned to it by the county. You can find the parcel or property ID number on the property tax statement. Attach a sheet with additional parcel numbers if more than one number is located within the zone. Email address If the department has questions regarding your Form M500 and you want to receive correspondence electronically, be sure to provide your email address. Line instructions Line 1 Check the appropriate box to indicate if you received any tax benefits for participating in a zone during the year you are amending. If you did not receive any tax benefits, explain your situation, sign and file the form. Lines 2–5 Complete lines 2 through 5 if you (or, in some cases, your contractor) made purchases in the year you are amending that were exempt from state and local sales taxes for participating in a zone. Line 2 Enter your purchases of taxable goods and services that were primarily used or consumed in the zone during the year you are amending. Do not include: Signature An authorized representative of the qualified business must sign and date the form. Where to file Mail Form M500X to: • purchases of capital equipment where you have received, or expect to receive, a refund of sales or use tax, • purchases of motor vehicles or construction materials and supplies, or or fax to: 651-556-3102 • product production purchases such as raw materials and utilities. Materials and utilities used or consumed in producing products for resale are already exempt. Use of information Line 3 Enter the purchases made by you, or a contractor or subcontractor, of construction materials and supplies used to construct improvements to real property used by the qualified business in the zone during the year you are amending. Ask your contractor for his or her purchasing information. Line 4 A motor vehicle purchased by a qualified business is exempt if the motor vehicle is principally garaged in the zone and is primarily used as part of, or in direct support of, the business’s operations carried on in the zone. Enter the Vehicle Identification Number (VIN) and purchase price under line 4. If more than four vehicles are used, complete Form M500A, JOBZ Motor Vehicle Purchase Report. Enter additional VINs/amounts of purchase on the form and send with Form M500. Line 5 If the qualified business is located in an area with a local sales and use tax, be sure to enter the area on the line provided. Visit our website for a listing of local tax areas for the year you are amending. Minnesota Revenue Mail Station 9901 St. Paul, MN 55146-9901 All information provided on Form M500 is nonpublic and cannot be disclosed to others without your consent. The information will be used to administer the JOBZ program, however, and may be shared with other state agencies, to the extent necessary to administer the JOBZ laws. Questions or need forms? You can find forms and the most current information on our website at www.revenue.state.mn.us. If you have questions, call 651-556-6836 during business hours. TTY users, call Minnesota Relay at 711. We’ll provide information in other formats upon request.
Extracted from PDF file 2020-minnesota-form-m500x.pdf, last modified January 2012

More about the Minnesota Form M500X Corporate Income Tax TY 2020

We last updated the Amended JOBZ M500 (Revised 1/12) in April 2021, so this is the latest version of Form M500X, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form M500X directly from TaxFormFinder. You can print other Minnesota tax forms here.

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 M3-M3A Partnership Return
Form M8 S Corporation Return (M8 and M8A)
Form MRT1 Mortgage Registry Tax
Worksheet C-Provider Provider, Hospital and Surgical Center Tax Return
Form M4NP Unrelated Business Income Tax (UBIT) Return

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 M500X from the Department of Revenue in April 2021.

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 M500X

We have a total of nine past-year versions of Form M500X in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year

2018 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year

2017 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year

2016 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year

2015 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year

Amended JOBZ M500 (Revised 1/12) 2014 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year

Amended JOBZ M500 (Revised 1/12) 2013 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year

2012 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year

2011 Form M500X

M500, Reporting of JOBZ Tax Benefits for Tax Year


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