M4NP: Unrelated Business Income Tax (UBIT) Return (2024)
Minnesota · Minnesota DOR · Used for tax years 2024
Form M4NP is Minnesota’s 2024 Unrelated Business Income Tax (UBIT) Return for tax-exempt organizations, cooperatives, homeowners associations, and political organizations with unrelated business income. It reports taxable income, deductions, credits, tax liability, and payments t
Who files this form
The 2024 Form M4NP is for tax-exempt organizations, cooperatives, homeowners associations, and political organizations with unrelated business income.
What you'll need
- A complete copy of your federal Form 990-T, 1120-C, 1120-H, or 1120-POL, including all supporting schedules. Attach these to your return.
- Your organization's FEIN, required Minnesota Tax ID, mailing address, and tax-year beginning and ending dates.
- Form M4NPI for the income adjustments, deductions, and credits reported on Form M4NP.
- Schedule M4NPA if you conducted business both within and outside Minnesota.
- Form M4NP NOL if claiming a Minnesota net operating loss deduction, and Form M15NP if reporting an additional charge for underpayment of estimated tax.
- Form TPD if reporting a Tax Position Disclosure.
- Your historic rehabilitation credit certificate and NPS project number if claiming the Historic Structure Rehabilitation Credit.
- Amounts for any credit carried forward from your 2023 Form M4NP, 2024 estimated tax payments, and 2024 extension payment.
How to file
Complete the organization information and applicable boxes, calculate the return amounts, and have an authorized person sign and date the return. Attach a complete copy of the applicable federal return and all supporting schedules.
Mail to:
Minnesota Department of Revenue
Mail Station 1257
600 N. Robert St.
St. Paul, MN 55146-1257
The form lists electronic and check payment options, including a separate checkbox for an amended return payment by check. It does not provide e-filing instructions.
Common mistakes
- Do not leave out the required Minnesota Tax ID or tax-year dates.
- Round amounts to the nearest whole dollar.
- Do not complete Schedule M4NPA if all your activities were in Minnesota. Instead, enter Form M4NP line 5 on line 6. Complete and attach M4NPA when business was conducted both within and outside Minnesota.
- Do not omit the complete federal return and supporting schedules.
- Provide brief explanations for the Form M4NPI entries that specifically require them.
- For direct deposit, use an account that is not associated with any foreign banks.
Questions people ask
What is the regular tax rate shown on the 2024 form?
Line 11 calculates regular tax by multiplying taxable income on line 10 by 9.8% (0.098). If the result is zero or less, enter zero.
What if all our activities were in Minnesota?
Do not complete Schedule M4NPA. Enter the amount from Form M4NP line 5 on line 6.
Can we apply an overpayment to next year's estimated tax?
Yes. Line 32 lets you designate an amount from your overpayment on line 31 to be credited to your 2025 estimated tax. The remaining amount is the refund on line 33.
Can we receive a refund by direct deposit?
Yes. Enter the account type, routing number, and account number. The account must not be associated with any foreign banks.