reglab/housing_qa huggingface dataset:
MN Stat § 289A.55 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 289A — Administration And Compliance|Section 289A.55 — Interest Payable To Commissioner.

289A.55 INTEREST PAYABLE TO COMMISSIONER. Subdivision 1. Interest rate. When interest is required under this section, interest is computed at the rate specified in section 270C.40. Subd. 2. Late payment. If a tax is not paid within the time named by law for payment, the unpaid tax bears interest from the date the tax should have been paid until the date the tax is paid. Subd. 3. Extensions. When an extension of time for payment has been granted, interest must be paid from the date the payment should have been made, if no extension had been granted, until the date the tax is paid. Subd. 4. Additional assessments. When a taxpayer is liable for additional taxes because of a redetermination by the commissioner, or for any other reason, the additional taxes bear interest from the time the tax should have been paid, without regard to an extension allowed, until the date the tax is paid. Subd. 5. Excessive claims for refunds under chapter 290A. When it is determined that a claim for a property tax refund was excessive, the amount that the taxpayer must repay bears interest from the date the claim was paid until the date of repayment. Subd. 6. Erroneous refunds. In the case of an erroneous refund, interest begins to accrue from the date the refund was paid unless the erroneous refund results from a mistake of the commissioner, in which case no interest or penalty will be imposed, unless the deficiency assessment is not satisfied within 60 days of the order. Subd. 7. Installment payments; estate tax. Interest must be paid on unpaid installment payments of the tax authorized under section 289A.30, subdivision 2, beginning on the date the tax was due without regard to extensions allowed or extensions elected, at the rate given in section 270C.40. Subd. 8. Interest on judgments. Notwithstanding section 549.09, if judgment is entered in favor of the commissioner with regard to any tax, the judgment bears interest at the rate given in section 270C.40 from the date the judgment is entered until the date of payment. Subd. 9. Interest on penalties. (a) A penalty imposed under section 289A.60, subdivision 1, 2, 2a, 4, 5, 6, or 21 bears interest from the date provided in section 270C.40, subdivision 3, to the date of payment of the penalty. (b) A penalty not included in paragraph (a) bears interest only if it is not paid within 60 days from the date of notice. In that case interest is imposed from the date of notice to the date of payment. Subd. 10. Relief for purchasers. A purchaser that meets the requirements of section 297A.995, subdivision 11, is relieved from the imposition of interest on tax and penalty. History:  1990 c 480 art 1 s 24; 1995 c 264 art 10 s 4; 1999 c 243 art 16 s 19; 2000 c 490 art 13 s 12; 1Sp2001 c 5 art 11 s 1; 2005 c 151 art 2 s 17; 2008 c 366 art 13 s 1; 2013 c 143 art 18 s 5; 2016 c 158 art 1 s 214
MN Stat § 290.0111 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.0111 — Temporary Conformity To Certain Federal Tax Changes.

290.0111 TEMPORARY CONFORMITY TO CERTAIN FEDERAL TAX CHANGES. Subdivision 1. Adopting Internal Revenue Code changes. For the purposes of this chapter, "Internal Revenue Code," as defined in section 290.01, subdivisions 19 and 31, includes the sections of federal law specified in this section as enacted or amended through March 31, 2021. Subd. 2. Further Consolidated Appropriations Act, 2020. (a) "Internal Revenue Code" includes the following provisions of the Taxpayer Certainty and Disaster Tax Relief Act of 2019 in Public Law 116-94: (1) section 101; (2) section 116; (3) section 117; (4) section 130; (5) section 131; (6) section 132; (7) section 144; (8) section 201; (9) section 202; and (10) section 204. (b) "Internal Revenue Code" includes section 301 of the Setting Every Community Up for Retirement Enhancement Act of 2019 in Public Law 116-94. Subd. 3. CARES Act. "Internal Revenue Code" includes the following sections of Public Law 116-136: (1) section 1106(i); and (2) section 2202. Subd. 4. Consolidated Appropriations Act, 2021. (a) "Internal Revenue Code" includes the following provisions of the COVID-related Tax Relief Act of 2020 in Public Law 116-260: (1) section 275; (2) section 276; and (3) section 277. (b) For taxable years beginning after December 31, 2019, and before January 1, 2021, "Internal Revenue Code" includes sections 278(b) and 278(c) of the COVID-related Tax Relief Act of 2020 in Public Law 116-260. Subd. 5. American Rescue Plan Act. "Internal Revenue Code" includes section 9042 of Public Law 117-2. History:   1Sp2021 c 14 art 1 s 6
MN Stat § 290.0121 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.0121 — Dependent Exemption.

290.0121 DEPENDENT EXEMPTION. Subdivision 1. Exemption amount. (a) A taxpayer's dependent exemption equals: (1) the exemption amount multiplied by the number of individuals who are dependents, as defined in sections 151 and 152 of the Internal Revenue Code, of the taxpayer for the taxable year; minus (2) the disallowed exemption amount under subdivision 2, but the remainder may not be less than zero. (b) The exemption amount equals $4,250. Subd. 2. Disallowed exemption amount. (a) The disallowed exemption amount equals the dependent exemption allowed under subdivision 1, paragraph (a), clause (1), multiplied by the applicable percentage. (b) For a married individual filing a separate return, "applicable percentage" means two percentage points for each $1,250, or fraction of that amount, by which the taxpayer's federal adjusted gross income for the taxable year exceeds the threshold amount. For all other filers, applicable percentage means two percentage points for each $2,500, or fraction of that amount, by which the taxpayer's federal adjusted gross income for the taxable year exceeds the threshold amount. The applicable percentage must not exceed 100 percent. (c) "Threshold amount" means: (1) $291,950 for a joint return or a surviving spouse; (2) $243,300 for a head of a household; (3) $194,650 for an individual who is not married and who is not a surviving spouse or head of a household; and (4) half the amount for a joint return for a married individual filing a separate return. Subd. 3. Inflation adjustment. For taxable years beginning after December 31, 2019, the commissioner must adjust for inflation the exemption amount in subdivision 1, paragraph (b), and the threshold amounts in subdivision 2, as provided in section 270C.22. The statutory year is taxable year 2019. The amounts as adjusted must be rounded down to the nearest $50 amount. The threshold amount for married individuals filing separate returns must be one-half of the adjusted amount for married individuals filing joint returns. History:  1Sp2019 c 6 art 1 s 15; 2020 c 83 art 1 s 73; 1Sp2021 c 14 art 12 s 3
MN Stat § 290.0136 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.0136 — Certain Preferred Stock Losses.

290.0136 CERTAIN PREFERRED STOCK LOSSES. A taxpayer must compute net income by treating losses from the sale or transfer of certain preferred stock, which the taxpayer treated as ordinary losses pursuant to Division A, title III, section 301 of Public Law 110-343, as capital losses. The amount of net income under section 290.01, subdivision 19; taxable net income under section 290.01, subdivision 22; taxable income under section 290.01, subdivision 29; the numerator and denominator in section 290.06, subdivision 2c, paragraph (e); individual alternative minimum taxable income under section 290.091, subdivision 2; corporate alternative minimum taxable income under section 290.0921, subdivision 3; and net operating losses under section 290.095 must be computed for each taxable year as if those losses had been treated by the taxpayer as capital losses under the Internal Revenue Code, including the limitations under section 1211 of the Internal Revenue Code. History:  2009 c 12 art 1 s 6; 2016 c 158 art 3 s 31
MN Stat § 290.0137 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.0137 — Accelerated Recognition Of Certain Installment Sale Gains.

290.0137 ACCELERATED RECOGNITION OF CERTAIN INSTALLMENT SALE GAINS. (a) In the case of a nonresident individual or a person who becomes a nonresident individual during the tax year, taxable net income shall include the amount realized upon a sale of the assets of, or any interest in, an S corporation or partnership that operated in Minnesota during the year of sale, including any income or gain to be recognized in future years pursuant to an installment sale method of reporting under the Internal Revenue Code. (1) For the purposes of this paragraph, an individual who becomes a nonresident of Minnesota in any year after an installment sale is required to recognize the full amount of any income or gain described in this paragraph on the individual's final Minnesota resident tax return to the extent that such income has not been recognized in a prior year. (2) For the purposes of this section, "realized" has the meaning given in section 1001(b) of the Internal Revenue Code. (3) For the purposes of this section, "installment sale" means any installment sale under section 453 of the Internal Revenue Code and any other sale that is reported utilizing a method of accounting authorized under subchapter E of the Internal Revenue Code that allows taxpayers to delay reporting or recognizing a realized gain until a future year. (b) Notwithstanding paragraph (a), nonresident taxpayers may elect to defer recognizing unrecognized installment sale gains by making an election under this paragraph. The election must be filed on a form to be determined or prescribed by the commissioner and must be filed by the due date of the individual income tax return, including any extension. Electing taxpayers must make an irrevocable agreement to: (1) file Minnesota tax returns in all subsequent years when gains from the installment sales are recognized and reported to the Internal Revenue Service; (2) allocate gains to the state of Minnesota as though the gains were realized in the year of sale under section 290.17, 290.191, or 290.20; and (3) include all relevant federal tax documents reporting the installment sale with subsequent Minnesota tax returns. (c) Income or gain recognized for Minnesota purposes pursuant to paragraph (a) must be excluded from taxable net income in any future year that the taxpayer files a Minnesota tax return to the extent that the income or gain has already been subject to tax pursuant to paragraph (a). History:  1Sp2017 c 1 art 1 s 11; 1Sp2019 c 6 art 12 s 1
MN Stat § 290.02 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.02 — Franchise Tax On Corporations Measured By Net Income.

290.02 FRANCHISE TAX ON CORPORATIONS MEASURED BY NET INCOME. An annual franchise tax on the exercise of the corporate franchise to engage in contacts with this state that produce gross income attributable to sources within this state is imposed upon every corporation that so exercises its franchise during the taxable year. Contacts within this state do not include transportation in interstate or foreign commerce, or both, by means of ships navigating within or through waters that are made international for navigation purposes by any treaty or agreement to which the United States is a party. The tax so imposed is measured by the corporations' taxable income and alternative minimum taxable income for the taxable year for which the tax is imposed, and computed in the manner and at the rates provided in this chapter. History:  (2394-2) 1933 c 405 s 2; Ex1937 c 49 s 2; 1947 c 635 s 2; 1974 c 556 s 18; 1975 c 349 s 7; 1976 c 2 s 102; 1982 c 523 art 1 s 4; 1987 c 268 art 1 s 24; 1Sp1989 c 1 art 10 s 9
MN Stat § 290.03 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.03 — Income Tax; Imposition, Classes Of Taxpayers.

290.03 INCOME TAX; IMPOSITION, CLASSES OF TAXPAYERS. An annual tax for each taxable year, computed in the manner and at the rates hereinafter provided, is hereby imposed upon the taxable income for such year of the following classes of taxpayers: (1) Resident and nonresident individuals; (2) Estates of decedents, dying domiciled within or without this state; (3) Trusts (except those taxable as corporations) however created by residents or nonresidents or by domestic or foreign corporations. History:  (2394-3) 1933 c 405 s 3; Ex1937 c 49 s 3; 1941 c 550 s 1; 1945 c 410 s 1; Ex1957 c 1 art 3; 1963 c 587 s 1; 1967 c 577 s 1; 1971 c 769 s 2; 1973 c 711 s 3; 1975 c 349 s 29; 1977 c 376 s 13; 1980 c 419 s 2; 1982 c 523 art 1 s 5; 1987 c 268 art 1 s 25
MN Stat § 290.032 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.032 — Lump-sum Distribution Tax.

290.032 LUMP-SUM DISTRIBUTION TAX. Subdivision 1. Imposition. There is hereby imposed as an addition to the annual income tax for a taxable year of a taxpayer in the classes described in section 290.03 a tax with respect to any distribution received by such taxpayer that is treated as a lump-sum distribution under section 1401(c)(2) of the Small Business Job Protection Act, Public Law 104-188 and that is subject to tax for such taxable year under section 1401(c)(2) of the Small Business Job Protection Act, Public Law 104-188. Subd. 2. Computation. The amount of tax imposed by subdivision 1 shall be computed in the same way as the tax imposed under section 402(d) of the Internal Revenue Code of 1986, as amended through December 31, 1995, except that the initial separate tax shall be an amount equal to five times the tax which would be imposed by section 290.06, subdivision 2c, if the recipient was an unmarried individual, and the taxable net income was an amount equal to one-fifth of the excess of (i) the total taxable amount of the lump-sum distribution for the year, over (ii) the minimum distribution allowance, and except that references in section 402(d) of the Internal Revenue Code of 1986, as amended through December 31, 1995, to paragraph (1)(A) thereof shall instead be references to subdivision 1, and the excess, if any, of the subtraction base amount over taxable net income for a qualified individual as provided under section 290.0802, subdivision 2. Subd. 3. Nonapplication. The tax imposed by this section shall not be applicable to a nonresident individual. Subd. 4.  [Repealed, 1981 c 343 s 42] Subd. 5.  [Repealed, 1983 c 342 art 1 s 44] History:  1975 c 349 s 28; 1977 c 376 s 2,13; 1979 c 303 art 1 s 3,4; 1980 c 607 art 1 s 32; 1981 c 60 s 27; 1981 c 178 s 11; 1982 c 523 art 1 s 69; art 40 s 14; 1983 c 15 s 3; 1983 c 207 s 43; 1983 c 342 art 1 s 43; 1984 c 514 art 1 s 8; art 4 s 1; 1Sp1985 c 14 art 1 s 13; art 21 s 3,49; 1Sp1986 c 1 art 1 s 9; 1987 c 268 art 1 s 26,27; 1988 c 719 art 1 s 6; art 3 s 12; 1989 c 28 s 25; 1990 c 604 art 2 s 16; 1991 c 291 art 6 s 46; 1992 c 511 art 6 s 19; 1993 c 375 art 8 s 14; 1994 c 587 art 1 s 24; 1995 c 264 art 15 s 1,2; 1Sp2005 c 3 art 4 s 8,9; 1Sp2019 c 6 art 1 s 34
MN Stat § 290.04 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.04 — Liability For Tax.

290.04 LIABILITY FOR TAX. Subdivision 1. Accrual. The liability for the tax imposed by section 290.02 shall arise upon the first day of the taxable year upon which a domestic corporation exercises any of the privileges specified in section 290.02 or exists as a corporation, or on which a foreign corporation is possessed of the privilege for the grant to it of the privilege of transacting or for the actual transaction by it of any local business within this state during any part of its taxable year, in corporate or organized form. The liability for the tax imposed by section 290.03 shall arise concurrently with the receipt or accrual of income during the taxable year. The provisions shall in no way affect the determination of the amount of such taxes, the time for making returns, and the time for paying such taxes. Subd. 2. Fiduciary relationship not to affect. The liability of any taxpayer shall remain unaffected by the fact that such taxpayer, or the title, possession, custody, or control of the taxpayer's business or property, is in the care of a guardian, trustee, receiver, conservator, or any other person acting in any fiduciary capacity for such taxpayer or in reference to the taxpayer's business or property, unless the taxes imposed by this chapter are specifically imposed by this chapter upon any such guardian, trustee, receiver, conservator, or fiduciary. History:  (2394-4) 1933 c 405 s 4; Ex1937 c 49 s 4; 1986 c 444
MN Stat § 290.0672 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.0672 — Long-term Care Insurance Credit.

290.0672 LONG-TERM CARE INSURANCE CREDIT. Subdivision 1. Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Long-term care insurance" means a policy that: (1) qualifies for a deduction under section 213 of the Internal Revenue Code, disregarding the adjusted gross income test; or meets the requirements given in section 62A.46; or provides similar coverage issued under the laws of another jurisdiction; and (2) has a lifetime long-term care benefit limit of not less than $100,000; and (3) has been offered in compliance with the inflation protection requirements of section 62S.23. (c) "Qualified beneficiary" means the taxpayer or the taxpayer's spouse. (d) "Premiums deducted in determining net income" means the lesser of (1) long-term care insurance premiums that qualify as deductions under section 213 of the Internal Revenue Code; and (2) the total amount deducted for medical care under section 290.0122, subdivision 6. Subd. 2. Credit. A taxpayer is allowed a credit against the tax imposed by this chapter for long-term care insurance policy premiums paid during the tax year. The credit for each policy equals 25 percent of premiums paid to the extent not deducted in determining taxable net income. A taxpayer may claim a credit for only one policy for each qualified beneficiary. A maximum of $100 applies to each qualified beneficiary. The maximum total credit allowed per year is $200 for married couples filing joint returns and $100 for all other filers. For a nonresident or part-year resident, the credit determined under this section must be allocated based on the percentage calculated under section 290.06, subdivision 2c, paragraph (e). History:  1997 c 231 art 5 s 7; 2000 c 490 art 4 s 20,21; 1Sp2017 c 1 art 13 s 9; 1Sp2019 c 6 art 1 s 40,41
MN Stat § 290.0675 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|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 retirement pension, profit-sharing, stock bonus, or annuity plan; and (3) Social Security benefits as defined in section 86(d)(1) of the Internal Revenue Code. (c) "Taxable income" means net income as defined in section 290.01, subdivision 19. (d) "Earned income of lesser-earning spouse" means the earned income of the spouse with the lesser amount of earned income as defined in paragraph (b) for the taxable year minus one-half the amount of the standard deduction under section 290.0123, subdivision 1, clause (1). Subd. 2. Credit allowed. A married couple filing a joint return is allowed a credit against the tax imposed under section 290.06. Subd. 3. Credit amount. The credit amount is the difference between the tax on the couple's joint Minnesota taxable income under the rates and income levels in section 290.06, subdivision 2c, paragraph (a), as adjusted for the taxable year by section 290.06, subdivision 2d, and the sum of the tax under the rates and income levels of section 290.06, subdivision 2c, paragraph (b), as adjusted for the taxable year by section 290.06, subdivision 2d, on the earned income of the lesser-earning spouse, and the tax under the rates and income levels of section 290.06, subdivision 2c, paragraph (b), as adjusted for the taxable year by section 290.06, subdivision 2d, on the couple's joint Minnesota taxable income, minus the earned income of the lesser-earning spouse. The commissioner of revenue shall prepare and make available to taxpayers a comprehensive table showing the credit under this section at brackets of earnings of the lesser-earning spouse and joint taxable income. The brackets of earnings shall not be more than $2,000. Subd. 4. Nonresidents and part-year residents. For a nonresident or part-year resident, the credit must be allocated based on the percentage calculated under section 290.06, subdivision 2c, paragraph (e). Subd. 5.  [Repealed, 2003 c 127 art 3 s 24] History:  1999 c 243 art 2 s 15; 2000 c 490 art 4 s 22-24; 1Sp2001 c 5 art 7 s 40,41; 2002 c 377 art 10 s 12,13; 2003 c 127 art 3 s 12,13; 1Sp2005 c 3 art 4 s 14; 1Sp2005 c 7 s 39; 2006 c 259 art 2 s 6; 1Sp2011 c 7 art 2 s 7; 2014 c 150 art 1 s 20; 2016 c 158 art 3 s 17; 1Sp2019 c 6 art 1 s 42