Section 290.0682 — Student Loan Credit.
290.0682 STUDENT LOAN CREDIT. Subdivision 1. Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) “Adjusted gross income” means federal adjusted gross income as defined in section 62 of the Internal Revenue Code. (c) “Earned income” has the meaning given in section 290.0675, subdivision 1, paragraph (b). (d) “Eligible […]
Section 290.0683 — Minnesota Housing Tax Credit.
290.0683 MINNESOTA HOUSING TAX CREDIT. Subdivision 1. Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) “Agency” means the Minnesota Housing Finance Agency. (c) “Minnesota housing tax credit contribution account” or “account” means the account established in section 462A.40. (d) “Qualified project” means a project that qualifies for a […]
Section 290.0684 — Section 529 Plan Credit.
290.0684 SECTION 529 PLAN CREDIT. Subdivision 1. Definitions. (a) For purposes of this section, the following terms have the meanings given them. (b) “Contribution” means the amount contributed to one or more qualified accounts except that the amount: (1) is reduced by any withdrawals or distributions, other than transfers or rollovers to another qualified account, […]
Section 290.0685 — Credit For Parents Of Stillborn Children.
290.0685 CREDIT FOR PARENTS OF STILLBORN CHILDREN. Subdivision 1. Credit allowed. (a) An individual is allowed a credit against the tax imposed by this chapter equal to $2,000 for each birth for which a certificate of birth resulting in stillbirth has been issued under section 144.2151. The credit under this section is allowed only in […]
Section 290.0686 — Credit For Attaining Master’s Degree In Teacher’s Licensure Field.
290.0686 CREDIT FOR ATTAINING MASTER’S DEGREE IN TEACHER’S LICENSURE FIELD. Subdivision 1. Definitions. (a) For purposes of this section, the following terms have the meanings given them. (b) “Master’s degree program” means a graduate-level program at an accredited university leading to a master of arts or science degree in a core content area directly related […]
Section 290.0692 — Small Business Investment Credit.
290.0692 SMALL BUSINESS INVESTMENT CREDIT. Subdivision 1. Definitions. For purposes of this section, terms defined in section 116J.8737 have the meaning given in that section. Subd. 2. Credit allowed. A qualified investor is allowed a credit against the tax imposed under this chapter for qualified investments made in a qualified small business for the taxable […]
Section 290.07 — Net Income; Computation, Accounting Period.
290.07 NET INCOME; COMPUTATION, ACCOUNTING PERIOD. Subdivision 1. Annual accounting period. Net income and taxable net income shall be computed upon the basis of the taxpayer’s annual accounting period. If a taxpayer has no annual accounting period, or has one other than a fiscal year, the net income and taxable net income shall be computed […]
Section 290.0802 — Subtraction For The Elderly And Disabled.
290.0802 SUBTRACTION FOR THE ELDERLY AND DISABLED. Subdivision 1. Definitions. For purposes of this section, the following terms have the meanings given. (a) “Adjusted gross income” means federal adjusted gross income as used in section 22(d) of the Internal Revenue Code for the taxable year, plus a lump-sum distribution as defined in section 402(e)(3) of […]
Section 290.081 — Income Of Nonresidents, Reciprocity.
290.081 INCOME OF NONRESIDENTS, RECIPROCITY. (a) The compensation received for the performance of personal or professional services within this state by an individual whose residence, place of abode, and place customarily returned to at least once a month is in another state, shall be excluded from gross income to the extent such compensation is subject […]
Section 290.0675 — Marriage Penalty Credit.
290.0675 MARRIAGE PENALTY CREDIT. Subdivision 1. Definitions. (a) For purposes of this section the following terms have the meanings given. (b) “Earned income” means the sum of the following, to the extent included in Minnesota taxable income: (1) earned income as defined in section 32(c)(2) of the Internal Revenue Code; (2) income received from a […]