reglab/housing_qa huggingface dataset:
MN Stat § 290.9727 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.9727 — Tax On Certain Built-in Gains.

290.9727 TAX ON CERTAIN BUILT-IN GAINS. Subdivision 1. Tax imposed. For an "S" corporation electing S corporation status pursuant to section 1362 of the Internal Revenue Code after December 31, 1986, and having a recognized built-in gain as defined in section 1374 of the Internal Revenue Code, there is imposed a tax on the taxable income of such S corporation, as defined in this section, at the rate prescribed by section 290.06, subdivision 1. This subdivision does not apply to any corporation having an S election in effect for each of its taxable years. An S corporation and any predecessor corporation must be treated as one corporation for purposes of the preceding sentence. Subd. 1a. Asset transfers. In the case of the transfer of assets from a C corporation to an S corporation as described in section 1374(d)(8) of the Internal Revenue Code, a tax is imposed on the taxable income of the S corporation, as defined in this section, at the rate prescribed in section 290.06, subdivision 1. Subd. 2. Taxable income. For purposes of this section, taxable income means taxable net income less the deduction for net operating loss carryforwards as provided by this section. Subd. 3. Taxable net income. For purposes of this section, taxable net income means the lesser of: (1) the recognized built-in gains of the S corporation for the taxable year, as determined under section 1374 of the Internal Revenue Code, subject to the modifications provided in section 290.0135, that are allocable to this state under section 290.17, 290.191, or 290.20; or (2) the amount of the S corporation's federal taxable income, as determined under section 1374(d)(4) of the Internal Revenue Code, subject to the provisions of sections 290.0131 to 290.0135, that is allocable to this state under section 290.17, 290.191, or 290.20. Subd. 4. Net operating loss carryforward. A net operating loss carryforward, as determined under section 290.095, arising in a taxable year before the corporation elected S corporation status, shall be allowed as a deduction against the lesser of the amounts referred to in subdivision 3, clauses (1) and (2). For purposes of determining the amount of any such loss that may be carried to later taxable years, the lesser of the amounts referred to in subdivision 3, clauses (1) and (2), shall be treated as taxable income. Subd. 5. Credit carryforward. Any credit carryforward allowed under this chapter and arising in a taxable year in which the corporation was a C corporation is allowed as a credit against the tax imposed by this section. History:  1988 c 719 art 2 s 47; 1989 c 28 s 25; 1990 c 604 art 2 s 16; 1991 c 291 art 6 s 46; art 7 s 21-24; 1992 c 511 art 6 s 19; 1993 c 375 art 8 s 14; 1994 c 587 art 1 s 24; 1997 c 231 art 6 s 18; 2003 c 2 art 1 s 32; 2016 c 158 art 3 s 24
MN Stat § 290.9728 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.9728 — Tax On Capital Gains.

290.9728 TAX ON CAPITAL GAINS. Subdivision 1. Tax imposed. There is imposed a tax on the taxable income of an "S" corporation that has: (1) elected S corporation status pursuant to section 1362 of the Internal Revenue Code of 1986, as amended through December 31, 1986, before January 1, 1987; (2) a net capital gain for the taxable year (i) in excess of $25,000 and (ii) exceeding 50 percent of the corporation's federal taxable income for the taxable year; and (3) federal taxable income for the taxable year exceeding $25,000. The tax is imposed at the rate prescribed by section 290.06, subdivision 1. For purposes of this section, "federal taxable income" means federal taxable income determined under section 1374(4)(d) of the Internal Revenue Code. This section does not apply to an S corporation which has had an election under section 1362 of the Internal Revenue Code of 1954, in effect for the three immediately preceding taxable years. This section does not apply to an S corporation that has been in existence for less than four taxable years and has had an election in effect under section 1362 of the Internal Revenue Code of 1954 for each of the corporation's taxable years. For purposes of this section, an S corporation and any predecessor corporation are treated as one corporation. Subd. 2. Taxable income. For purposes of this section, taxable income means the lesser of: (1) the amount of the net capital gain of the S corporation for the taxable year, as determined under sections 1222 and 1374 of the Internal Revenue Code, and subject to the modifications provided in section 290.0135, in excess of $25,000 that is allocable to this state under section 290.17, 290.191, or 290.20; or (2) the amount of the S corporation's federal taxable income, subject to the provisions of sections 290.0133 to 290.0135, that is allocable to this state under section 290.17, 290.191, or 290.20. History:  1987 c 268 art 1 s 126; 1988 c 719 art 2 s 48; 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; 1997 c 231 art 6 s 19; 2003 c 2 art 1 s 33; 2014 c 308 art 9 s 70; 2016 c 158 art 3 s 25
MN Stat § 290.9729 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.9729 — Tax On Passive Investment Income.

290.9729 TAX ON PASSIVE INVESTMENT INCOME. Subdivision 1. Tax imposed. There is imposed a tax for the taxable year on the taxable income of an S corporation, if for the taxable year an S corporation has: (1) subchapter C earnings and profits at the close of such taxable year; and (2) gross receipts more than 25 percent of which are passive investment income. The tax is imposed at the rate prescribed by section 290.06, subdivision 1. The terms "subchapter C earnings and profits," "passive investment income," and "gross receipts" have the same meanings as when used in sections 1362(d)(3) and 1375 of the Internal Revenue Code. Subd. 2. Taxable income. For the purposes of this section, taxable income means the lesser of: (1) the amount of the S corporation's excess net passive income, as determined under section 1375 of the Internal Revenue Code, subject to the provisions of sections 290.0133 to 290.0135, that is allocable to this state under section 290.17, 290.191, or 290.20; or (2) the amount of the S corporation's federal taxable income, as determined under section 1374(d)(4) of the Internal Revenue Code, subject to the provisions of sections 290.0133 to 290.0135, that is allocable to this state under section 290.17, 290.191, or 290.20. Subd. 3. Waiver of tax. The tax imposed by this section shall be waived if the taxpayer receives a waiver for federal income tax purposes under section 1375(d) of the Internal Revenue Code. History:  1988 c 719 art 2 s 49; 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; 2003 c 2 art 1 s 34; 2016 c 158 art 3 s 26
MN Stat § 290.9741 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.9741 — Election By Remic.

290.9741 ELECTION BY REMIC. An entity having a valid election as a Real Estate Mortgage Investment Conduit (REMIC) in effect under section 860D(b) of the Internal Revenue Code shall not be subject to the taxes imposed by this chapter except the tax imposed under section 290.92. History:  1987 c 268 art 1 s 118; 1988 c 719 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
MN Stat § 290.9742 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.9742 — Remic Income Taxable To Holders Of Interests.

290.9742 REMIC INCOME TAXABLE TO HOLDERS OF INTERESTS. The income of a REMIC is taxable to the holders of interests in the REMIC as provided in sections 860A to 860G of the Internal Revenue Code. The income of the holders must be computed under the provisions of this chapter. History:  1987 c 268 art 1 s 119; 1988 c 719 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
MN Stat § 290.993 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290 — Income And Franchise Taxes|Section 290.993 — Special Limited Adjustment.

290.993 SPECIAL LIMITED ADJUSTMENT. (a) For an individual, estate, or trust, or a partnership that elects to file a composite return under section 289A.08, subdivision 7, for taxable years beginning after December 31, 2017, and before January 1, 2019, the following special rules apply: (1) an individual income taxpayer may: (i) take the standard deduction; or (ii) make an election under section 63(e) of the Internal Revenue Code to itemize, for Minnesota individual income tax purposes, regardless of the choice made on their federal return; and (2) there is an adjustment to tax equal to the difference between the tax calculated under this chapter using the Internal Revenue Code as amended through December 16, 2016, and the tax calculated under this chapter using the Internal Revenue Code amended through December 31, 2018, before the application of credits. The end result must be zero additional tax due or refund. (b) The adjustment in paragraph (a), clause (2), does not apply to any changes due to sections 11012, 13101, 13201, 13202, 13203, 13204, 13205, 13207, 13301, 13302, 13303, 13313, 13502, 13503, 13801, 14101, 14102, 14211 through 14215, and 14501 of Public Law 115-97; and section 40411 of Public Law 115-123. History:  1Sp2019 c 6 art 1 s 61; 1Sp2021 c 14 art 12 s 14
MN Stat § 290A.01 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.01 — Citation.

290A.01 CITATION. This chapter may be cited as the "State of Minnesota Property Tax Refund Act." History:  1975 c 437 art 1 s 1; 1977 c 423 art 2 s 1; 1Sp1981 c 4 art 1 s 137; 1984 c 514 art 4 s 17
MN Stat § 290A.02 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.02 — Purpose.

290A.02 PURPOSE. The purpose of this chapter is to provide property tax relief to certain persons who own or rent their homesteads. History:  1975 c 437 art 1 s 2; 1Sp1981 c 4 art 1 s 138; 1984 c 514 art 4 s 17
MN Stat § 290A.05 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.05 — Combined Household Income.

290A.05 COMBINED HOUSEHOLD INCOME. If a person occupies a homestead with another person not related to the person as the person's spouse, excluding dependents, roomers or boarders on contract, and has property tax payable with respect to the homestead, the household income of the claimant or claimants for the purpose of computing the refund allowed by section 290A.04 shall include the total income received by the other persons residing in the homestead. For purposes of this section, "dependent" includes a parent of the claimant or spouse who lives in the claimant's homestead and does not have an ownership interest in the homestead. If a person occupies a homestead with another person or persons not related to the person as the person's spouse or as dependents, the property tax payable or rent constituting property tax shall be reduced as follows. If the other person or persons are residing at the homestead under rental or lease agreement, the amount of property tax payable or rent constituting property tax shall be that portion not covered by the rental agreement. History:  1975 c 437 art 1 s 5; 1977 c 423 art 2 s 12; 1983 c 294 s 6; 1984 c 522 s 11; 1991 c 291 art 6 s 42; 1Sp2019 c 6 art 24 s 16
MN Stat § 290A.07 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.07 — Claims Payments.

290A.07 CLAIMS PAYMENTS. Subdivision 1. Authority. Allowable claims filed pursuant to the provisions of this chapter shall be paid by the commissioner from the general fund. Subd. 2.  [Repealed, 1982 c 641 art 2 s 13] Subd. 2a. Time of payment to renter or manufactured home homeowner. A claimant who is a renter or a homeowner who occupies a manufactured home, as defined in section 273.125, subdivision 8, paragraph (c), or a park trailer taxed as a manufactured home under section 168.012, subdivision 9, shall receive full payment after August 1 and before August 15 or 60 days after receipt of the application, whichever is later. Subd. 3. Time of payment to other claimants. A claimant not included in subdivision 2a shall receive full payment after September 15 and before September 30. Subd. 4.  [Repealed, 1981 c 343 s 43] Subd. 5. Early payment; e-file claims. The commissioner may pay a claim up to 30 days earlier than the first permitted date under subdivision 2a or 3 if the claim is submitted by electronic means. History:  1975 c 437 art 1 s 7; 1980 c 419 s 45; 1981 c 178 s 117; 1981 c 343 s 37,38; 1Sp1981 c 3 s 6-8; 1982 c 523 art 1 s 65; 1982 c 641 art 2 s 2,3; 1983 c 342 art 4 s 13; 1984 c 514 art 3 s 9,10; 1Sp1985 c 14 art 15 s 11,12; 1Sp1989 c 1 art 7 s 6; 1990 c 480 art 1 s 36,37; 1993 c 375 art 3 s 48; 1995 c 264 art 3 s 25; art 4 s 13; 1996 c 471 art 3 s 52; 1997 c 231 art 2 s 70; 2005 c 151 art 3 s 13
MN Stat § 290A.08 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.08 — One Claimant Per Household.

290A.08 ONE CLAIMANT PER HOUSEHOLD. Only one claimant per household per year is entitled to relief under this chapter. Payment of the claim for relief may be made payable to the spouses as one claimant. The commissioner, upon written request, may issue separate checks, to the spouses for one-half of the relief provided the original check has not been issued or has been returned. Individuals related as spouses who were married during the year may elect to file a joint claim which shall include each spouse's income, rent constituting property taxes, and property taxes payable. Spouses who were married for the entire year and were domiciled in the same household for the entire year must file a joint claim. The maximum dollar amount allowable for a joint claim shall not exceed the amount that one person could receive. History:  1975 c 437 art 1 s 8; 1977 c 423 art 2 s 13; 1981 c 343 s 39; 1Sp1981 c 4 art 1 s 144; 1984 c 514 art 4 s 17; 1994 c 510 art 1 s 9; 1Sp2019 c 6 art 24 s 17
MN Stat § 290A.09 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.09 — Proof Of Claim.

290A.09 PROOF OF CLAIM. Every claimant shall supply to the commissioner of revenue, in support of the claim, proof of eligibility under this chapter, including but not limited to amount of rent paid or property taxes accrued, name and address of owner or managing agent of property rented, changes in homestead, household membership, household income, size and nature of property claimed as a homestead.  Persons with a disability filing claims shall submit proof of disability in the form and manner as the commissioner may prescribe. The department may require examination and certification by the claimant's physician or by a physician designated by the commissioner. The cost of any examination shall be borne by the claimant, unless the examination proves the disability, in which case the cost of the examination shall be borne by the commissioner. A determination of disability of a claimant by the Social Security Administration under Title II or Title XVI of the Social Security Act shall constitute presumptive proof of disability. History:  1975 c 437 art 1 s 9; 1Sp1981 c 4 art 1 s 145; 1984 c 514 art 4 s 17; 1986 c 444; 2016 c 158 art 1 s 214; 1Sp2019 c 6 art 24 s 18
MN Stat § 290A.091 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.091 — Claims Of Tenants In Leasehold Cooperatives.

290A.091 CLAIMS OF TENANTS IN LEASEHOLD COOPERATIVES. The cooperative manager of a leasehold cooperative shall furnish a statement to each tenant by March 31 of the year in which the property tax is payable showing each unit's share of the gross property tax and each unit's share of any property tax credits. Each tenant may apply for a property tax refund under this chapter as a homeowner based on each tenant's share of property taxes. The tenant may not include any rent constituting property taxes paid on that unit. For the purposes of this section, a leasehold cooperative is formed on the day that leasehold cooperative status is granted by the appropriate county official. History:  1987 c 268 art 3 s 8; 1991 c 291 art 6 s 43
MN Stat § 290A.10 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.10 — Proof Of Taxes Paid.

290A.10 PROOF OF TAXES PAID. If requested by the commissioner of revenue, a claimant who files a claim for relief for property taxes payable shall provide a property tax statement or a reproduction thereof in a form deemed satisfactory by the commissioner of revenue indicating that there are no delinquent property taxes on the homestead. Indication on the property tax statement from the county treasurer that there are no delinquent taxes on the homestead shall be sufficient proof. Taxes included in a confession of judgment under section 277.23 or 279.37 shall not constitute delinquent taxes as long as the claimant is current on the payments required to be made under section 277.23 or 279.37. History:  1975 c 437 art 1 s 10; 1977 c 423 art 2 s 14; 1986 c 444; 2009 c 88 art 7 s 9; 1Sp2017 c 1 art 17 s 3
MN Stat § 290A.11 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.11 — Objections To Claims.

290A.11 OBJECTIONS TO CLAIMS. Subdivision 1.  [Repealed, 1990 c 480 art 1 s 45] Subd. 1a.  [Repealed, 1990 c 480 art 1 s 45] Subd. 2.  [Repealed, 1990 c 480 art 1 s 45] Subd. 3.  [Repealed, 1990 c 480 art 1 s 45] Subd. 4.  [Repealed, 1990 c 480 art 1 s 45] Subd. 5. Assignment of refund. The commissioner shall not honor an assignment by the claimant to another person or entity of a property tax refund prior to the refund check being presented to the claimant. History:  1975 c 437 art 1 s 11; 1976 c 134 s 78; 1977 c 307 s 29; 1978 c 767 s 23; 1980 c 607 art 3 s 4; 1981 c 343 s 40,41; 1Sp1981 c 4 art 1 s 146; 1982 c 523 art 1 s 66; 1983 c 294 s 7; 1984 c 514 art 4 s 17; 1984 c 628 art 3 s 11; 1985 c 210 art 1 s 18,19; 1987 c 268 art 17 s 19; 1988 c 719 art 5 s 84; 1989 c 329 art 13 s 20
MN Stat § 290A.13 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.13 — No Relief Allowed In Certain Cases.

290A.13 NO RELIEF ALLOWED IN CERTAIN CASES. No claim for relief under this chapter shall be allowed if the commissioner determines that the claimant received title or tenancy to the homestead primarily for the purpose of receiving benefits under this chapter and not for bona fide residence purposes. History:  1975 c 437 art 1 s 13; 1Sp1981 c 4 art 1 s 147; 1984 c 514 art 4 s 17; 1986 c 444
MN Stat § 290A.14 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.14 — Property Tax Statement.

290A.14 PROPERTY TAX STATEMENT. The county treasurer shall prepare and send a sufficient number of copies of the property tax statement to the owner, and to the owner's escrow agent if the taxes are paid via an escrow account, to enable the owner to comply with the filing requirements of this chapter and to retain one copy as a record. The property tax statement, in a form prescribed by the commissioner, shall indicate the manner in which the claimant may claim relief from the state under both this chapter and chapter 290B, and the amount of the tax for which the applicant may claim relief. The statement shall also indicate if there are delinquent property taxes on the property in the preceding year. Taxes included in a confession of judgment under section 277.23 or 279.37 shall not constitute delinquent taxes as long as the claimant is current on the payments required to be made under section 277.23 or 279.37. History:  1975 c 437 art 1 s 14; 1976 c 334 s 17; 1977 c 423 art 2 s 15; 1986 c 444; 1998 c 389 art 5 s 2; 2009 c 88 art 7 s 10
MN Stat § 290A.15 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.15 — Claim Applied Against Outstanding Liability.

290A.15 CLAIM APPLIED AGAINST OUTSTANDING LIABILITY. The amount of any claim otherwise payable under this chapter may be applied by the commissioner against any delinquent tax liability of any member of the household. If there are two members of the household, the commissioner may apply only one-half of a refund to the separate liability of either member of the household. History:  1975 c 437 art 1 s 15; 1Sp1981 c 4 art 1 s 148; 1984 c 514 art 4 s 17; 1995 c 264 art 4 s 14; 1996 c 471 art 3 s 52; 1997 c 231 art 2 s 70; 1Sp2001 c 5 art 7 s 45
MN Stat § 290A.18 (2021)
2021 Minnesota Statutes|Chapters 289A - 295 — Various State Taxes And Programs|Chapter 290A — Property Tax Refund|Section 290A.18 — Right To File Claim; Right To Receive Credit.

290A.18 RIGHT TO FILE CLAIM; RIGHT TO RECEIVE CREDIT. Subdivision 1. Claim by surviving spouse or dependent. If a person entitled to relief under this chapter dies prior to receiving relief, the surviving spouse or dependent of the person shall be entitled to file the claim and receive relief. If there is no surviving spouse or dependent, the right to the credit shall lapse. Subd. 2. Claimant cannot be located. If the commissioner cannot locate the claimant within two years from the date that the original warrant was issued, or if a claimant to whom a warrant has been issued does not cash that warrant within two years from the date the warrant was issued, the right to the credit shall lapse, and the warrant shall be deposited in the general fund. History:  1975 c 437 art 1 s 18; 1977 c 423 art 2 s 16; 1980 c 607 art 3 s 6; 1983 c 342 art 4 s 14; 1984 c 514 art 4 s 17; 1987 c 268 art 3 s 9; 1994 c 510 art 1 s 10; 1995 c 264 art 4 s 15; 1996 c 471 art 3 s 52; 1997 c 231 art 2 s 70