Section 290.22 — Estates And Trusts, Imposition Of Tax.
290.22 ESTATES AND TRUSTS, IMPOSITION OF TAX. The taxes imposed by this chapter upon individuals shall apply to the income of estates or of any kind of property held in trust, including: (1) income accumulated in trust for the benefit of unborn or unascertained person or persons with contingent interests, and income accumulated or held […]
Section 290.26 — Exemption For Individual Retirement Account.
290.26 EXEMPTION FOR INDIVIDUAL RETIREMENT ACCOUNT. Subdivision 1. [Repealed, 1982 c 523 art 1 s 72] Subd. 2. [Repealed, 1987 c 268 art 1 s 127] Subd. 2a. [Repealed, 1983 c 15 s 33] Subd. 3. [Repealed, 1982 c 523 art 1 s 72] Subd. 4. [Repealed, 1981 c 178 s 119] Subd. 5. [Repealed, […]
Section 290.281 — Common Trust Fund.
290.281 COMMON TRUST FUND. Subdivision 1. Not taxed; defined. A common trust fund shall not be subject to taxation under this chapter and the definitions provided in and the provisions of section 584 of the Internal Revenue Code shall apply. Subd. 2. [Repealed, 1982 c 523 art 1 s 72] Subd. 3. [Repealed, 1982 c […]
Section 290.30 — Fiduciaries, Duty To Pay Tax.
290.30 FIDUCIARIES, DUTY TO PAY TAX. Upon notice to the commissioner that any person is acting in a fiduciary capacity, such fiduciary shall assume the powers, rights, duties, and privileges of the taxpayer in respect of a tax imposed by this chapter, except as otherwise specifically provided and except that the tax shall be collected […]
Section 290.31 — Partnerships; Individual Liability Of Partners.
290.31 PARTNERSHIPS; INDIVIDUAL LIABILITY OF PARTNERS. Subdivision 1. Partners, not partnership, subject to tax. Except as provided under sections 289A.35, paragraph (b), and 289A.382, subdivision 3, a partnership as such shall not be subject to the income tax imposed by this chapter, but is subject to the tax imposed under section 290.0922. Persons carrying on […]
Section 290.311 — Partnership Gross Income.
290.311 PARTNERSHIP GROSS INCOME. Subdivision 1. Partners. (a) Partner’s modifications. In determining gross income and Minnesota taxable income of a partner, any modification described in sections 290.0131 to 290.0135, which relates to an item of partnership income, gain, loss or deduction shall be made in accordance with the partner’s distributive share, for federal income tax […]
Section 290.32 — Taxes For Part Of Year, Computation.
290.32 TAXES FOR PART OF YEAR, COMPUTATION. When under this chapter a taxpayer is permitted or required to make a return for a fractional part of a year, the tax shall be computed in the same manner as if such fractional part of a year were an entire year, except: (1) A taxpayer who is […]
Section 290.34 — Corporations, Special Provisions.
290.34 CORPORATIONS, SPECIAL PROVISIONS. Subdivision 1. Business conducted in such a way as to create losses or improper taxable net income. When any corporation liable to taxation under this chapter conducts its business in such a manner as, directly or indirectly, to benefit its members or stockholders or any person or corporation interested in such […]
Section 290.36 — Investment Companies; Report Of Net Income; Computation Of Amount Of Income Allocable To State.
290.36 INVESTMENT COMPANIES; REPORT OF NET INCOME; COMPUTATION OF AMOUNT OF INCOME ALLOCABLE TO STATE. The taxable net income of investment companies shall be computed as follows: Each investment company transacting business as such in this state shall report to the commissioner the net income returned by the company for the taxable year to the […]
Section 290.172 — Commissioner Of Revenue.
290.172 COMMISSIONER OF REVENUE. The commissioner of revenue shall represent the state of Minnesota on the multistate tax commission. The commissioner may be represented on the commission by an alternate designated by the commissioner. The alternate shall be an employee of the Department of Revenue. History: 1983 c 342 art 16 s 2; 1985 c […]