M4R: Minnesota Business Activity Report (2024)
Minnesota · Minnesota DOR · Used for tax years 2024
Form M4R is Minnesota’s 2024 Business Activity Report for corporations. It reports Minnesota sales or receipts, business locations, personnel, property, services, and other income-producing activities.
Who files this form
Corporations must file the 2024 Form M4R if they obtain any business from within Minnesota during their calendar or fiscal accounting year, unless an exception applies.
Business from within Minnesota includes:
- Products or services received by Minnesota customers in Minnesota.
- Services performed outside Minnesota whose benefits are consumed in Minnesota.
- Transactions involving intangible property with Minnesota customers that produce income from within Minnesota.
- Leases of tangible personal property located in Minnesota.
- Sales or leases of Minnesota real estate.
- Deposits made by Minnesota customers to financial institutions.
Exceptions: You do not have to file if your corporation:
- Is registered with the Minnesota Secretary of State to do business in Minnesota. The instructions specify receiving a certificate of authority by the end of the accounting period.
- Is an insurance company other than a disqualified captive insurance company.
- Is exempt from taxation under Subchapter F of the Internal Revenue Code.
- Is a mining business subject to Minnesota’s occupation tax.
- Has filed a timely tax return.
You also do not have to file if your Minnesota activities relate solely to owning interests in real estate mortgage investment conduits, real estate investment trusts, regulated investment companies, securitized loans, secondary loan market assets, or property acquired through default on a secondary loan market asset and disposed of within a reasonable time. This includes reasonably required contacts to acquire, dispose of or service the property, collect its income, or acquire or liquidate related collateral.
The secondary loan market asset exemption does not apply when a member of a unitary business acquires the asset from another member of that business.
When it's due
For tax year 2024, file Form M4R by the 15th day of the fourth month after the close of your calendar or fiscal accounting year.
What you'll need
Have the following information ready:
- Corporation name, FEIN, Minnesota Tax ID if applicable, and mailing address.
- Calendar year or fiscal-year beginning and ending dates.
- Minnesota principal office address, principal business type, and principal product or service.
- Amount of Minnesota sales or receipts.
- Whether the corporation belongs to a unitary business and makes retail sales in Minnesota.
- Locations and activities of Minnesota offices and other business places.
- Titles and numbers of officers, employees, agents and representatives with Minnesota activity.
- Information about Minnesota property, assets, merchandise, work, services and income needed to answer the eight activity questions.
Attachments: Include a brief job description for each officer and class of employee. Explain every “yes” answer to the eight activity questions in detail on a separate sheet. Attach additional sheets for business locations if needed.
How to file
Complete the corporation information and Minnesota activity questions, and include the required attachments. Sign and date the report, and provide your title and direct phone number. The form also has fields for a preparer’s signature, PTIN, date and direct phone number.
Mail the report to:
Minnesota Department of Revenue
Mail Station 5130
600 N. Robert St.
St. Paul, MN 55146-5130
Common mistakes
- Leaving “yes” answers unexplained: The form requires a detailed explanation on a separate sheet for each “yes” answer to the eight activity questions.
- Omitting job descriptions: Attach a brief job description for each officer and class of employee with Minnesota activity.
- Entering a Minnesota Tax ID when the space should be blank: If you do not have a Minnesota Tax ID and do not need to file Minnesota sales, use or withholding tax, leave that space blank.
- Failing to file a required report: The instructions warn that failure to file can cause you to lose the right under Minnesota law to file lawsuits, except those related to your Minnesota tax liability. They also describe restrictions on using the courts to enforce contracts or settle lawsuits when a timely report has not been filed.
Questions people ask
Do I need to file if my corporation is registered with the Minnesota Secretary of State?
No. The form says corporations registered to do business in Minnesota are not required to file M4R. The instructions specify receiving a certificate of authority by the end of the accounting period.
Can services performed outside Minnesota count as Minnesota business?
Yes. Services performed outside Minnesota count when their benefits are consumed in Minnesota.
What is my Minnesota Tax ID number?
It is the seven-digit number assigned by the Department of Revenue. It is the same as your Minnesota Sales and Use Tax number or Minnesota employer’s withholding tax number. If you do not have one and do not need to file Minnesota sales, use or withholding tax, leave the space blank.
Where can I get help?
Visit www.revenue.state.mn.us, email BusinessIncome.tax@state.mn.us, or call 651-556-3075. The material is also available in alternate formats.