M8: S Corporation Return (including M8A) (2024)
Minnesota · Minnesota DOR · Used for tax years 2024
Form M8 is Minnesota’s 2024 S Corporation Return, used to report S corporation taxes, the minimum fee, pass-through entity tax, and taxes for nonresident shareholders, along with credits and payments. The included M8A reports property, payroll, and sales to determine Minnesota so
Who files this form
Form M8 is Minnesota’s S Corporation Return. The form states that all S corporations must complete M8A to determine their Minnesota-source income and minimum fee.
What you'll need
Include these documents with your return:
- A complete copy of federal Form 1120S, Schedules K and K-1, and other federal schedules.
- Completed M8A and a copy of your balance sheet.
Depending on the items reported on your return, the form also calls for:
- A computation of S corporation taxes.
- Schedule PTE for pass-through entity tax.
- Schedules KS for composite income tax for nonresident shareholders.
- Forms AWC received from shareholders.
- Schedule ETP for the Employer Transit Pass Credit not passed through to shareholders.
- Schedule EPC for the Enterprise Zone Credit not passed through to shareholders.
- Schedule EST for an additional charge for underpayment of estimated tax.
- Form TPD for a tax position disclosure.
Have the applicable credit certificate numbers ready for the Film Production Tax Credit, Tax Credit for Owners of Agricultural Assets, and State Housing Tax Credit.
How to file
Complete Form M8 and M8A, include the required attachments, and have an officer sign and date the return. The form also provides signature and identification fields for a paid preparer.
Mail the return to:
Minnesota S Corporation Income Tax
Mail Station 1770
600 N. Robert St.
St. Paul, MN 55146-1770
The form includes a checkbox stating that you do not want your paid preparer to file the return electronically. It does not provide electronic filing steps.
For an amount due, the form lists electronic payment or check as payment methods and refers to the instructions for details.
Common mistakes
- Do not use staples on anything you submit.
- Round amounts on Form M8 to the nearest whole dollar. Carry M8A factors to five decimal places.
- Do not omit the complete federal return copy and schedules requested on Form M8, or the balance sheet requested on M8A.
- Leave M8 line 14 blank if the result is zero or less.
- Remember that a Minnesota Nongame Wildlife Fund donation reduces your refund or increases your tax.
- For direct deposit, use an account that is not associated with any foreign banks.
Questions people ask
Do all S corporations need to complete M8A?
Yes. M8A states that all S corporations must complete it to determine Minnesota-source income and the minimum fee.
When is the 2024 minimum fee zero?
The 2024 M8A table lists a $0 minimum fee when M8A line 8 is less than $1,220,000. Enter the minimum fee from M8A line 9 on M8 line 2.
Can I apply an overpayment to next year’s estimated tax?
Yes. M8 line 26 lets you designate an amount from your overpayment on line 25 to be credited to your 2025 estimated tax.
Can I receive my refund by direct deposit?
Yes. On line 28, select checking or savings and enter your routing and account numbers. Use an account not associated with any foreign banks. Otherwise, you will receive a check.
What if I received Form AWC from a shareholder?
Check the box on M8 line 5 and enclose the Forms AWC.