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The State of Minnesota, under 290.068, offers a Credit for Increasing Research Activities, a nonrefundable tax credit for all qualifying R&D activities. The credit calculation mirrors that of the federal R&D tax credit. Taxpayers may claim a credit against the corporate income or franchise tax equal to the sum of:
Learn more about Minnesota's R&D Tax Credit law here.
R&D Tax Credit Available:
C-Corporations, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with Minnesota Tax Return
Data Required to Compute Credit:
Claim Period Federal Qualified R&D Expenses (QREs)
What Information is needed?
Minnesota Sales & Receipts for Prior 4 Years
Federal Form 6765
No Carryback provision
To get an estimate of the potential value of your unclaimed R&D Tax Credits, try out our credit calculator.
Download our R&D Tax Credit Calculator for Android to see how much you can receive from your qualified R&D tax credit expenses.