Connect with us to find out how R&D Tax Credits can boost your organization’s performance.
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.
We were hoping you’d say that. The fundamental truth is that we perform better when we have efficiency and effectiveness in mind.
Minimizing your tax liability only increases your organization’s value and performance, while providing greater opportunity for every dollar.