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Minnesota Free Printable MRT1, Mortgage Registry Tax for 2021 Minnesota Mortgage Registry Tax

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Mortgage Registry Tax
MRT1, Mortgage Registry Tax

MRT1 Mortgage Registry Tax Form MRT1 may be used to document your claim for an exemption from mortgage tax or the basis of your tax. The mortgage registry tax rate is .0023 of the amount of the debt being secured (.0024 for Hennepin and Ramsey counties). Please note, a document or any record of the mortgage may not be received in evidence in any court, and is not valid notice, unless the tax has been paid. (M.S. 287.10) Mortgage Registry Tax Name of Borrower Name of Lender 1 New debt being secured with this instrument $ 2 New Debt Subject to Tax 3 Mortgage Tax Due $ $ 4 Reason Code Sign Here Mortgagor or authorized agent, sign below. I declare that the information on this certificate is correct and complete to the best of my knowledge and belief. Signature of Mortgagor or Authorized Agent Title Date Daytime Phone Website: www.revenue.state.mn.us. Email: [email protected] Phone: 651-556-4721. Reason Codes 1 Supplemental Mortgage This instrument is modifying an existing mortgage and securing a new debt. 1. Debt Secured After Supplement 2. Principle Balance Before Supplement 3. New Debt Subject to Tax (Subtract Line 2 from Line 1. Enter in boxes 1 and 2 at top) ________________________ (________________________ ) ______________________________ 2 Additional Security This is a new and separate mortgage that provides additional security for an outstanding debt for which tax has already been paid and whose mortgage remains in place. (M.S. 287.01.04[c]). Tax Paid_____________________________________________________ County ______________________________________________________ Document #__________________________________________________ 3 Limiting Clause The limiting clause can be used when a lender chooses to secure only a portion of the debt amount recited in the mortgage. “Notwithstanding anything to the contrary herein, enforcement of this mortgage is limited to a debt amount of $_________________________________________________ under M.S. 287.05, subd. 1a.” 4 Mortgage Amendment This is a mortgage amendment, as defined in M.S. 287.01, subd. 2, and does not secure a new or increase an exisitng debt. (M.S. 287.04[c]). 5 Decree of marriage dissolution or an instrument made pursuant to it. (Rev. 9/18) 6 Mortgage given to correct a misdescription of the mortgaged property. 7 Mortgage executed as part of a plan of reorganization under a Chapter 11 or Chapter 12 bankruptcy case. (Federal bankruptcy codes 1146[a] and 1231[a]) 8 Mortgage secured by real property subject to the minerals production tax. (M.S. 298.24 to 298.28) 9 Mortgage loan made under a low and moderate income or other affordable housing program if the mortgagee is a federal, state, or local government agency. (Revenue Notice # 01-05) 10 A mortgage granted by a Fraternal Benefit Society (borrower). (M.S. 64B) 11 Reverse Mortgage/Home Equity Conversion Mortgage — tax is due on the expected total disbursements less interest, mortgage insurance premiums, and lender service fees. (M.S. 287.05, subd. 6) 12 Agricultural mortgage whose proceeds are being used to acquire or improve Minnesota real property that is or will be used for the production of agricultural products. Includes prior qualifying loans that are being re-financed. Note: The exemption does not apply to the portion of the proceeds used for nonexempt purposes (e.g., house, residential-use garage, machinery and seed). 13 Mortgage encumbering real property located within the boundaries of a federally recognized American Indian tribe if the mortgagor (i.e., borrower) is (1) the tribe or a member of the tribe; or (2) purchasing the property from the tribe or a member of the tribe and the mortgage is a purchase-money mortgage. 14 Exempt Federal Agencies— To see a list go to our website at www.revenue.state.mn.us and search Mortgage Registry Tax. 15 If the above codes do not apply, please provide explanation below.
Extracted from PDF file 2020-minnesota-form-mrt1.pdf, last modified January 2018

More about the Minnesota Form MRT1 Corporate Income Tax TY 2020

We last updated the Mortgage Registry Tax in February 2021, so this is the latest version of Form MRT1, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form MRT1 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 MRT1 from the Department of Revenue in February 2021.

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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 MRT1

We have a total of six past-year versions of Form MRT1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2020 Form MRT1

MRT1, Mortgage Registry Tax

2018 Form MRT1

MRT1, Mortgage Registry Tax

2017 Form MRT1

MRT1, Mortgage Registry Tax

2016 Form MRT1

MRT1, Mortgage Registry Tax

2015 Form MRT1

MRT1, Mortgage Registry Tax

Mortgage Registry Tax 2014 Form MRT1

MRT1, Mortgage Registry Tax

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