1                                                                                                                                                                                                                                                                                                1
  2 4  6                                                    8      10                            12  14 16  18  20 22  24  26      28  30       32  34  36            38  40       42  44  46          48  50       52  54  56           58  60  62                 64  66 68  70  72  74  76 78  80 82  84  86
    3                                                                                                                                                                                                                                                                                                3
    4                                                                                                                                                             NEAR FINAL DRAFT 8/8/24                                                                                                            4
    5                                                                                                                                                                                                                                                                                                5
    6                                                                                                                                                                                                                                                                  *242311*6
    7  2024 Schedule M2SB, Income Tax Computation for S Portion of ESBT                                                                                                                                                                                                                              7
    8                                                                                                                                                                                                                                                                                                8
    9                                                                                                                                                                                                                                                                                                9
    10 ESTATE TRUST NAME                                                                                                                                                                                 123456789                                                  123456789                        10
    11 Name of Trust                                                                                                                                                                                     Federal ID Number                                          Minnesota ID Number              11
    12  SCORPORATIONS SPORTION OF ESBT HOLDS ST                                                                                                                                                          123456789                                                                                   12
    13 Name of S-Corporation S Portion of ESBT Holds Stock In                                                                                                                                            Federal ID Number of S-Corporation                                                          13
    14  ADDITIONAL SCORPORATIONS SPORTION OF ESB                                                                                                                                                         123456789                                                                                   14
    15 Additional S-Corporation S Portion of ESBT Holds Stock In                                                                                                                                         Federal ID Number of Additional S-Corporation                                               15
    16                                                                                                                                                                                                                                                                                               16
    17                                                                                                                                                                                                                                                                                               17
    18   1  Federal taxable income of S portion (enclose federal computation)   . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . .  1                                                                                                                 12345678                  18
    19                                                                                                                                                                                                                                                                                               19
    20   2  Fiduciary’s deductions and losses not allowed by Minnesota (enclose Schedule M2NM)                                                                                                                           . . .  . . . . . .  . . . . .  . .  2             12345678                  20
    21                                                                                                                                                                                                                                                                                               21
    22   3  Additions (from line 27, on page 2 of this schedule)                                                                                              . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . .  3       12345678                  22
    23                                                                                                                                                                                                                                                                                               23
    24   4  Add lines 1 through 3  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . .4. . . .                                                                               12345678                  24
    25                                                                                                                                                                                                                                                                                               25
    26   5  Subtractions (from line 43, on page 3 of this schedule)    . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  .  5                                                                                                    12345678                  26
    27   6  Fiduciary’s income from non-Minnesota sources                                                                                                                                                                                                                                            27
    28                            (enclose   M2NM) Schedule                                                         . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . .6. .  . .      12345678                  28
    29                                                                                                                                                                                                                                                                                               29
    30   7  Add lines 5 and 6    . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . 7.  . .  .                                                                        12345678                  30
    31                                                                                                                                                                                                                                                                                               31
    32   8  Minnesota taxable net income. Subtract line 7 from line 4   . . . . .  . . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  .   8                                                                                                         12345678                  32
    33                                                                                                                                                                                                                                                                                               33
    34   9Tax                                                 from table in M2 instructions Form                                          . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . . .  . . . . .  . . 9. . .  .       12345678                  34
    35                                                                                                                                                                                                                                                                                               35
    36  10  Total of tax from Schedule M2MT (enclose Schedule M2MT)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .   10                                                                                 12345678                  36
    37                                                                                                                                                                                                                                                                                               37
    38  11  Total of 2024 tax for S portion. Add lines 9 and 10 and include amount on line 12 of Form M2    . .  . . . . .  . .  11                                                                                                                                        12345678                  38
    39                                                                                                                                                                                                                                                                                               39
    40                                                                                                                                                                                                                                                                                               40
    41                                                                                                                                                                                                                                                                                               41
    42 You must include this schedule and a copy of federal computations for the S portion of the ESBT when you file Form M2.                                                                                                                                                                        42
    43                                                                                                                                                                                                                                                                                               43
    44                                                                                                                                                                                                                                                                                               44
    45                                                                                                                                                                                                                                                                                               45
    46                                                                                                                                                                                                                                                                                               46
    47                                                                                                                                                                                                                                                                                               47
    48                                                                                                                                                                                                                                                                                               48
    49                                                                                                                                                                                                                                                                                               49
    50                                                                                                                                                                                                                                                                                               50
    51                                                                                                                                                                                                                                                                                               51
    52                                                                                                                                                                                                                                                                                               52
    53                                                                                                                                                                                                                                                                                               53
    54                                                                                                                                                                                                                                                                                               54
    55                                                                                                                                                                                                                                                                                               55
    56                                                                                                                                                                                                                                                                                               56
    57                                                                                                                                                                                                                                                                                               57
    58                                                                                                                                                                                                                                                                                               58
    59                                                                                                                                                                                                                                                                                               59
    60                                                                                                                                                                                                                                                                                               60
    61                                                                                                                                                                                                                                                                                               61
    62                                                                                                                                                                                                                                                                                               62
    63                                                                                                                                                                               9995                                                                                                            63
  2 4  6                                                    8      10                            12  14 16  18  20 22  24  26      28  30       32  34  36            38  40       42  44  46          48  50       52  54  56           58  60  62               64  66   68  70  72  74  76 78  80 82  84  86
    65                                                                                                                                                                                                                                                                                               65

    1                                                                                                                                                                                                                                                                                                     1
  2 4  6   8                               10                  12  14                                                      16  18  20 22  24  26 28  30 32  34  36            38  40       42  44  46          48  50        52  54  56          58  60  62          64  66      68  70 72  74  76 78  80 82  84  86
    3                                                                                                                                                                                                                                                                                                     3
    4                                                                                                                                                                                                                                                                                                     4
       2024 M2SB, page 2
    5                                                                                                                                                                                                                                                                                                     5
                                                                                                                                                                                                                                                                          *242321*
    6  Additions to Income                                                                                                                                                                                                                                                                                6
    7                                                                                                                                                                                                                                                                                                     7
    8    12                                        State and municipal bond outside Minnesotainterest from                                                                               . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . .12 . .  .    12345678          8
    9                                                                                                                                                                                                                                                                                                     9
    10     13                                      State taxes deducted in arriving at net income   . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  .  13                                                                12345678          10
    11   14                                        Expenses deducted on your federal return that are attributable to income not taxed                                                                                                                                                                     11
    12         by Minnesota (other than interest or mutual fund dividends from U.S. bonds)                                                                                                                            . . .  . . . . . .  . . . . .  . . . . . . .  . . . .  .  14      12345678          12
    13   15                                        80 percent of the suspended loss from 2001–2005 or 2008–2023 on your                                                                                                                                                                                   13
    14         federal return that was generated by bonus depreciation (see Form M2 instructions)   . . . . .  . . . . .  . . . . . .  . . .  .  15                                                                                                                                     12345678          14
    15                                                                                                                                                                                                                                                                                                    15
    16   16                  80 percent of federal bonus depreciation                                                                                      . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .   16 . . . .   12345678          16
    17                                                                                                                                                                                                                                                                                                    17
    18     17                                      199ASection qualified business income                                                           . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .17 .  . .  .     12345678          18
    19                                                                                                                                                                                                                                                                                                    19
    20     18                                      This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  .                                             18                       20
    21                                                                                                                                                                                                                                                                                                    21
    22     19                Net operating loss carryover adjustment   . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . .  .  19                                                                                 12345678          22
    23                                                                                                                                                                                                                                                                                                    23
    24   20                                        intangiblederived Foreign                        deduction(FDII) income                                               . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . .20  . .  .  12345678          24
    25                                                                                                                                                                                                                                                                                                    25
    26   21                                        This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  .  21                                                                  26
    27                                                                                                                                                                                                                                                                                                    27
    28      22                                     This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .                                                22                       28
    29                                                                                                                                                                                                                                                                                                    29
    30   23                                        This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .                                                23                       30
    31                                                                                                                                                                                                                                                                                                    31
    32   24                                        This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .                                                24                       32
    33                                                                                                                                                                                                                                                                                                    33
    34   25                                        This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .                                                25                       34
    35                                                                                                                                                                                                                                                                                                    35
    36   26                                        This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .                                                26                       36
    37                                                                                                                                                                                                                                                                                                    37
    38   27                                        Add lines 12 through 26. Enter the result here and on line 3   . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . .                                                                         27     12345678          38
    39                                                                                                                                                                                                                                                                                                    39
    40                                                                                                                                                                                                                                                                                                    40
       Subtractions from Income
    41                                                                                                                                                                                                                                                                                                    41
    42   28                                        Interest on U.S. government bond obligations, minus any expenses                                                                                                                                                                                       42
    43         deducted on your federal return that are attributable to this income                                                                                                                    . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  .   28     12345678          43
    44                                                                                                                                                                                                                                                                                                    44
    45     29                State income tax refund included on federal return   . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .                                                                                          29     12345678          45
    46                                                                                                                                                                                                                                                                                                    46
    47   30                  Federal bonus depreciation subtraction (see Form M2 instructions)                                                                                                       . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . .   30     12345678          47
    48                                                                                                                                                                                                                                                                                                    48
    49   31                                        This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .   31                                                                    49
    50                                                                                                                                                                                                                                                                                                    50
    51   32                                        Subtraction for railroad maintenance expenses  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . .   32                                                                   12345678          51
    52                                                                                                                                                                                                                                                                                                    52
    53   33                  Net operating loss carryover adjustment   . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . .   33                                                                                   12345678          53
    54                                                                                                                                                                                                                                                                                                    54
    55   34                  Deferred foreign income (section 965)  . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . .   34                                                                                  12345678          55
    56                                                                                                                                                                                                                                                                                                    56
    57   35                  Disallowed section 280E expenses of a licensed cannabis or hemp business  . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  .   35                                                                                                                  12345678          57
    58                                                                                                                                                                                                                                                                                                    58
    59      36                                     Delayed business interest  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .                                            36     12345678          59
    60                                                                                                                                                                                                                                                                                                    60
    61                                                                                                                                                                                                                                                                                                    61
    62                                                                                                                                                                                                                                                                                                    62
    63                                                                                                                                                                                                                                                                                                    63
                                                                                                                                                                                             9995
  2 4  6   8                               10                  12  14                                                      16  18  20 22  24  26 28  30 32  34  36            38  40       42  44  46          48  50        52  54  56          58  60  62          64  66      68  70 72  74  76 78  80 82  84  86
    65                                                                                                                                                                                                                                                                                                    65

    1                                                                                                                                                                                                                  1
  2 4  6 8   10 12  14 16  18  20 22  24  26   28  30 32  34  36 38  40   42  44  46 48  50 52  54  56 58  60  62 64  66                                                                      68  70 72  74  76 78  80 82  84  86
    3                                                                                                                                                                                                                  3
    4  2024 M2SB, page 3                                                                                                                                                                                               4
    5                                                                                                                                                                                                                  5
    6                                                                                                                                                                                         *242331*                 6
    7                                                                                                                                                                                                                  7
    8                                                                                                                                                                                                                  8
    9                                                                                                                                                                                                                  9
    10   37  Delayed net operating loss deduction  .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . .  .  37           12345678          10
    11                                                                                                                                                                                                                 11
    12    38 This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .   38                       12
    13                                                                                                                                                                                                                 13
    14   39  This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .   39                       14
    15                                                                                                                                                                                                                 15
    16   40  This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .   40                       16
    17                                                                                                                                                                                                                 17
    18   41  This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .   41                       18
    19                                                                                                                                                                                                                 19
    20   42  This line intentionally left blank  . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .   42                       20
    21                                                                                                                                                                                                                 21
    22   43  Add lines 28 through 42. Enter the result here and on line 5  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . .  .  43                             12345678          22
    23                                                                                                                                                                                                                 23
    24                                                                                                                                                                                                                 24
    25                                                                                                                                                                                                                 25
    26                                                                                                                                                                                                                 26
    27                                                                                                                                                                                                                 27
    28                                                                                                                                                                                                                 28
    29                                                                                                                                                                                                                 29
    30                                                                                                                                                                                                                 30
    31                                                                                                                                                                                                                 31
    32                                                                                                                                                                                                                 32
    33                                                                                                                                                                                                                 33
    34                                                                                                                                                                                                                 34
    35                                                                                                                                                                                                                 35
    36                                                                                                                                                                                                                 36
    37                                                                                                                                                                                                                 37
    38                                                                                                                                                                                                                 38
    39                                                                                                                                                                                                                 39
    40                                                                                                                                                                                                                 40
    41                                                                                                                                                                                                                 41
    42                                                                                                                                                                                                                 42
    43                                                                                                                                                                                                                 43
    44                                                                                                                                                                                                                 44
    45                                                                                                                                                                                                                 45
    46                                                                                                                                                                                                                 46
    47                                                                                                                                                                                                                 47
    48                                                                                                                                                                                                                 48
    49                                                                                                                                                                                                                 49
    50                                                                                                                                                                                                                 50
    51                                                                                                                                                                                                                 51
    52                                                                                                                                                                                                                 52
    53                                                                                                                                                                                                                 53
    54                                                                                                                                                                                                                 54
    55                                                                                                                                                                                                                 55
    56                                                                                                                                                                                                                 56
    57                                                                                                                                                                                                                 57
    58                                                                                                                                                                                                                 58
    59                                                                                                                                                                                                                 59
    60                                                                                                                                                                                                                 60
    61                                                                                                                                                                                                                 61
    62                                                                                                                                                                                                                 62
    63                                                                    9995                                                                                                                                         63
  2 4  6 8   10 12  14 16  18  20 22  24  26   28  30 32  34  36 38  40   42  44  46 48  50 52  54  56 58  60  62 64  66                                                                      68  70 72  74  76 78  80 82  84  86
    65                                                                                                                                                                                                                 65