Fillable 2019 M8X, Amended S Corporaon Return Claim for (Minnesota Department of Revenue)

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2019 M8X, Amended S Corporaon Return Claim for (Minnesota Department of Revenue)

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1 Scorporaontaxes(enclose computaon):
Original:
SchDtaxes
Passiveincome
LIFOrecapture
Amended:
SchDtaxes
Passiveincome
LIFOrecapture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Minimumfee(from line 2 of Form M8) .............................. 2
3 Compositeincometax(enclose Schedules KS)......................... 3
4 NonresidentMinnesotawithholding ................................ 4
5 Addlines1through4 .............................................5
6
EmployerTransitPassCreditnotpassedthroughtoshareholders,
limitedtothesumoflines1and2(enclose Schedule ETP) ...............6
7 TaxCreditforOwnersofAgriculturalAssetsnotpassedthroughto
shareholders,limitedtothesumoflines1and2above .................7
Enterthecercatenumberfromthecercateyoureceivedfromthe
RuralFinanceAuthority:AO___-___________
8 Addlines6and7 ................................................. 8
9 Subtractline8fromline5(if result is zero or less, leave blank)............9
10 EnterpriseZoneCredit(enclose Schedule EPC) ........................10
11 Esmatedtaxand/orextensionpayments............................11
Place an X in
all that apply:
Composite Income Tax Financial Instuon QSSS Installment Sale of Pass-through Assets or Interests
Check box to indicate the Amended Changes Aect Changes Aect
reason you are amending: Federal Return
IRS
Adjustment Schedules
KS
Changes Aect M8A
Nonresident Withholding
Public Law
86-272
Name of Corporaon Federal ID Number Minnesota Tax ID
Mailing Address
Check this box if the name or address has changed from
your original return. Fill in former informaon below.
Former Name or Address, if Changed
City State ZIP Code Number of amended Schedule KS: Number of shareholders:
2019 M8X, Amended S Corporaon Return
Claim for Refund
Explaineachchangeonpage2ofFormM8X.
A–Aspreviouslyreported B–Netchange C–Correctedamounts
9995
Connued next page
For tax year beginning (mm/dd/2019) and ending (mm/dd/yyyy)
*198911*
12 AmountduefromoriginalFormM8,line15(see instrucons) .............................................. 12
13 Totalcreditsandtaxpaid(add lines 10C and 11C and line 12) .............................................. 13
14 RefundamountfromoriginalFormM8,line20(see instrucons) ........................................... 14
15 Subtractline14fromline13(if result is less than zero, enter the negave amount) ............................ 15
16 Taxyouowe.Ifline9Cismorethanline15,subtractline15fromline9C
(if line 15 is a negave amount, see instrucons) ......................................................... 16
17 IfyoufailedtomelyreportfederalchangesortheIRSassessedapenalty(see instrucons) .................... 17
18 Addlines16and17................................................................................. 18
19 Interest (see instrucons) ............................................................................ 19
20 AMOUNT DUE (add lines 18 and 19).Skiplines21–22 .................................................... 20
Checkpaymentmethod:
Electronic(see instrucons),or
Check (see instrucons)
21 REFUND.Ifline15ismorethanline9C,subtractline9Cfromline15 ....................................... 21
22 Tohaveyourrefunddirectdeposited,enterthefollowing.Otherwise,youwillreceiveacheck.
Account type: Roung number Account number (use an account not associated with any foreign banks)
Checking
Savings
SignatureofOcer Date DaymePhone
PrintNameofOcer EmailAddressforCorrespondence,ifDesired Thisemailaddressbelongsto:
Employee
PaidPreparer  Other
PaidPreparer’sSignature Date DaymePhone Preparer’sPTIN
IauthorizetheMNDept.of
Revenuetodiscussthistaxreturn
withthepersonbelow.
Explain net changes below and show computaons in detail.Enclosethelistofchanges,amendedschedulesandamendedfederalForm1120S,ifany.
Mailto:MinnesotaAmendedSCorporaonTax,MailStaon1770,St.Paul,MN55145-1770.
2019 M8X, page 2
Name of Corporaon Federal ID Number Minnesota Tax ID
9995
EXPLANATION OF CHANGE—Explainbeloweachchangeindetail.Ifthechangesinvolveitemsrequiringsuppornginformaon,
besuretoaachtheappropriateschedule,statementorformtoFormM8Xtoverifythecorrectamount.
*198921*
C–Correctedamounts
Who Should File M8X?
This form must be led by S corporations to correct—or amend—an original Minnesota Form M8, S Corporation Return. If you are amend-
ing a return from a tax year other than the year listed at the top of this form, use the Form M8X for that year.
Federal Return Adjustments. If the Internal Revenue Service (IRS) changes or audits your federal return or you amend your federal return,
you have 180 days to le an amended Minnesota return. If you are ling Form M8X based on an IRS adjustment, be sure to check the box
in the heading and attach to your Form M8X a complete copy of your amended federal return or the correction notice you received from the
IRS.
If you fail to report as required, a 10 percent penalty will be assessed on any additional tax. See line 17 instructions.
Claim for Refund. Use Form M8X to make a claim for refund and report changes to your Minnesota liability. If you make a claim for a refund
and we do not act on it within six months of the date led, you may bring an action in the district court or the tax court.
When to File
File Form M8X only after you have led your original return. You may le Form M8X within 3½ years after the return was due or within one
year from the date of an order assessing tax, whichever is later. If you led your original return under an extension by the extended due date,
you have up to 3½ years from the extended due date to le the amended return.
Filing Reminders
The amended return must be signed by a principal ocer of the corporation.
If you pay someone to prepare your return, the preparer must sign and enter his or her PTIN number and daytime phone.
Round amounts to the nearest dollar. Decrease any amount less than 50 cents and increase any amount that is 50 cents or more to the next
higher dollar.
Compleng the Form
Enter the beginning and ending dates for the tax year you are amending at the top of the form. On the back of Form M8X, include a detailed
explanation of why the original return was incorrect. If you need additional space for your explanation, enclose a statement on a separate
sheet. Providing this information will help us verify the amended amounts.
Estimated payments and refunds credited to subsequent years cannot be amended or changed after the original return is led.
Form AWC, Alternative Withholding Certicate, can only be led with the original return. Any Forms AWC received after the ling of the
original return will be denied.
Apportionment Factors. Minnesota uses the single sales apportionment factor.
Use of Informaon
All information provided on this form is private, except for your Minnesota tax ID number, which is public. Private information cannot be
given to others except as provided by state law.
The identity and income information of the shareholders are required under state law so the department can determine the shareholder’s cor-
rect Minnesota taxable income and verify if the shareholder has led a return and paid the tax. The Social Security number of the sharehold-
ers are required to be reported on Schedule KS under M.S. 289A.12, subd. 13.
Lines 1–11,
Columns A, B and C
Column A: Enter the amounts shown on your original return or as later adjusted by an amended return or audit report.
Column B: Enter the dollar amount of each change as an increase or decrease for each line you are changing. Show all decreases in parenthe-
ses.
If the changes you are making aect the amounts on a schedule, you must complete and enclose a corrected schedule.
If you do not enter an amount when there is a change, the processing of your amended return will be delayed. Y
ou must also explain each
change in detail in the space on page 2 of Form M8X and enclose any related schedules or forms.
If you are not making a change for a given line, leave column B blank.
BeforeyoucancompleteFormM8X,youwillneedtheM8instruconsfortheyearyouareamending.
Continued
2019 Form M8X Instrucons
1
Column C: Enter the corrected amounts after the increases or decreases. If there are no changes, enter the amount from column A.
Line 7
If you received a credit certicate from the Minnesota Rural Finance Authority for selling or leasing agricultural assets to a beginning farmer,
enter the certicate number in the space provided and credit amount on line 7.
If you have multiple credits, enter the certicate number your S corporation received directly from the Rural Finance Authority within the
certicate number box. If you have multiple credits and received all credits from other pass-through entities, enter the certicate number
relating to the largest credit amount within the certicate number box. Subtotal all credit amounts on Line 7.
Line 12
Enter the total of the following tax amounts, whether or not paid:
• amount from line 15 of your original M8;
• any additional tax due from a previously led M8X, (either line 14, or 15, depending on the year); and
• additional tax due as the result of an audit or notice of change.
Do not include any amounts that were paid for penalty, interest or underpayment of estimated tax.
Line 14
Enter the total of the following refund amounts:
• from line 20 of your original M8, even if you have not yet received it;
• any refund amount from a previously led form M8X, (either line 19 or 20, depending on the year); and
• refund or reduction in tax from a protest or other type of audit adjustment.
Include any amount that was credited to estimated tax, applied to pay past due taxes or donated to the Minnesota Nongame Wildlife Fund.
Do not include any interest that may have been included in the refunds you received.
Lines 16 and 21
Lines 16 and 21 should reect the changes to your tax and/or credits as reported on lines 1 through 11 of Form M8X. If you have unpaid
taxes on your original Form M8, Form M8X is not intended to show your corrected balance due.
Line 16
If line 15 is a negative amount, treat it as a positive amount and add it to line 9C. Enter the result on line 16. This is the amount you owe,
which is due when you le your amended return. You cannot use any funds in your estimated tax account to pay this amount. Continue with
line 17.
Line 17
If only one of the penalties below applies, you must multiply line 16 by 10 percent (.10). If both penalties apply, multiply line 16 by 20 percent
(.20). Enter the result on line 17.
• The IRS assessed a penalty for negligence or disregard of rules or regulations; and/or
• You failed to report federal changes to the department within 180 days as required.
Line 19
Interest is calculated as simple interest and accrues on unpaid tax and penalties from the regular due date until it is paid in full. Use the for-
mula below with the appropriate interest rate:
Interest = line 18 x number of days past the due date x interest rate ÷ 365
If the days fall in more than one calendar year, you must determine the number of days separately for each year.
The interest rates for recent years are:
2019 5% 2007-08 8% 2002 7%
2017-18 4% 2006 6% 2001 9%
2010-16 3% 2004-05 4% 1999-2000 8%
2009 5% 2003 5% 1998 9%
Penalty will be assessed if the additional tax and interest are not paid with the amended return.
Line 20
Pay Electronically. Visit our website at www.revenue.state.mn.us and log in to e-Services. If you don’t have Internet access, call 1-800-
570-3329 to pay by phone. When paying electronically, you must use an account not associated with any foreign banks.
Pay by Check. If you’re not required to pay electronically and are paying by check, visit our website at www.revenue.state.mn.us and click
on “Make a Payment” and then “By check” to create a voucher. Print and mail the voucher with a check made payable to Minnesota Revenue.
When you pay by check, your check authorizes us to make a one-time electronic fund transfer from your account. You may not receive your
cancelled check.
2019 Form M8X Instrucons (Connued)
Continued
2
Line 21
If you want your refund to be directly deposited into your bank account, complete line 22. Your bank statement will indicate when your
refund was deposited to your account. Otherwise, skip line 22 and your refund will be sent to you in the mail.
This refund cannot be applied to your estimated tax account.
Line 22
If you want your refund to be directly deposited into your checking or savings account, enter the routing and account numbers. You must use
an account not associated with any foreign banks.
The roung number must have nine digits.
The account number may contain up to 17 digits (both numbers and letters). Enter the number
and leave out any hyphens, spaces and symbols.
If the routing or account number is incorrect or is not accepted by your nancial institution,
your refund will be sent to you in the form of a paper check.
By completing line 22, you are authorizing the department and your nancial institution to initiate electronic credit entries, and if necessary,
debit entries and adjustments for any credits made in error.
Signature
The return must be signed by the principal ocer of the organization receiving, controlling or managing the income of the S corporation. The
person must also include his or her ID number.
If someone other than the principal ocer prepared the return, the preparer must also sign. The preparer’s PTIN and phone number should
also be included.
You may check the box in the signature area to give us your permission to discuss your return with the paid preparer. This authorization
remains in eect until you notify the department in writing (either by mail or fax) that the authorization is revoked.
Checking the box does not give your preparer the authority to sign any tax documents on your behalf or to represent you at any audit or ap-
peals conference. For these types of authorities, you must le a power of attorney, Form REV184.
Email Address
If the department has questions regarding your return and you want to receive correspondence electronically, indicate the email address below
your signature. Check a box to indicate if the email address belongs to an employee of the S corporation, the paid preparer or other contact
person.
By providing an email address, you are authorizing the department to correspond with you or the designated person over the Internet and you
understand that the entity’s nonpublic tax data may be transmitted over the Internet.
You also accept the risk that the data may be accessed by someone other than the intended recipient. The department is not liable for any
damages that the entity may incur as a result of an interception.
Informaon and Assistance
Website: www.revenue.state.mn.us
Email: BusinessIncome.Tax@state.mn.us
Phone: 651-556-3075
This material is available in alternate formats.
Youcanndyourbank’sroungnumberand
accountnumberontheboomofyourcheck.
2019 Form M8X Instrucons (Connued)
3
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2019 M8X, Amended S Corporaon Return Claim for (Minnesota Department of Revenue)

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Completed 29 July 2020

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