M4: Corporation Franchise Tax Return (including M4I, M4A, and M4T) (2024)
Minnesota · Minnesota DOR · Used for tax years 2024
Form M4 is Minnesota’s 2024 Corporation Franchise Tax Return. It reports Minnesota tax liability, credits, withholding, payments, and the resulting amount due or refund. The included M4I calculates income using federal taxable income and listed adjustments.
What you'll need
For your 2024 return, have these items ready:
- A complete copy of your federal return, including schedules, as filed with the IRS. You must include it with your Minnesota return.
- Your corporation’s FEIN, Minnesota Tax ID number, federal business activity code, address, and tax-year beginning and ending dates.
- Records of Minnesota backup withholding, amounts credited from your 2023 return, 2024 estimated tax payments, and any 2024 extension payment.
- Income, property, payroll, and sales information needed for M4I, M4A, and M4T.
- Your routing number, account number, and account type if you have a refund.
Attach supporting items when they apply, including:
- The Enterprise Zone Credit Form and historic rehabilitation credit certificate for those credits.
- Form TPD if reporting a Tax Position Disclosure.
- Schedule M15C for an additional charge for underpayment of estimated tax.
- Schedules for certain federal credit expenses, intercompany eliminations, nonapportionable income, minimum-fee adjustments, and Minnesota nonunitary partnership income.
Some credit lines also require a project number or credit certificate number.
How to file
Use the 2024 forms together:
- Calculate income on M4I. Transfer line 9 to M4T, line 1.
- Calculate the apportionment factor and minimum fee on M4A. Transfer them to M4T, lines 2 and 16.
- Calculate Minnesota tax liability on M4T. Transfer line 28 to M4, line 1.
- Complete M4’s payments, credits, amount due, or refund lines. Sign and date the return, and include your complete federal return and required attachments.
Mail the return to:
Minnesota Department of Revenue
Mail Station 1250
600 N Robert St
St. Paul, MN 55146-1250
The form lists electronic payment and check as payment methods, but directs you to the instructions for payment details. Those instructions are not included in the supplied text.
Common mistakes
- Not rounding amounts: The forms require amounts rounded to the nearest whole dollar. M4A separately directs you to carry the apportionment factor to six decimal places.
- Using staples: Do not use staples on anything you submit.
- Leaving out the federal return: Include a complete copy, including schedules, as filed with the IRS.
- Omitting refund banking details: If you have a refund, you must enter your banking information. Use an account not associated with any foreign banks.
- Missing federal tax changes: Report changes to federal income tax within 180 days of final determination. If there is a change in tax, report it on Form M4X.
Questions people ask
What do M4I, M4A, and M4T calculate?
M4I calculates income, M4A calculates apportionment and the minimum fee, and M4T calculates tax. The total Minnesota tax liability from M4T, line 28, goes on M4, line 1.
How is regular tax calculated on the 2024 form?
M4T, line 10, directs you to multiply taxable income on line 9 by 0.098. If the result is zero or less, leave line 10 blank.
Can I apply an overpayment to next year’s estimated tax?
Yes. On the 2024 M4, line 18 lets you enter the amount of your line 17 overpayment to credit toward 2025 estimated tax. Subtract line 18 from line 17 to calculate the refund on line 19.
Can I authorize the department to discuss my return with my preparer?
Yes. M4 includes a checkbox authorizing the Minnesota Department of Revenue to discuss the return with the preparer.