*236651* 

2023 M15NP, Additional Charge for Underpayment of Estimated Tax
For tax-exempt organizations, cooperatives, homeowners associations and political organizations with unrelated 
business income. 
Complete this schedule if your total tax is more than $500 or you did not pay the correct amount of estimated tax by the due dates. 

Name of Organization                                                                                       FEIN                                    Minnesota Tax ID 
Check installment method used on this schedule (must check one box): 
           Standard Installment Method              Adjusted Seasonal Installment Method                               Annualized Income Installment Method 
                                                                                                                                                   You must round amounts  
                                                                                                                                                   to nearest whole dollar. 

    1    Enter your 2023 total tax liability (from 2023 Form M4NP, line 15 minus line 18) . . . . . . . . . . . . . . . . . . . . . . . . . .    1 
    If $500 or less, do not complete this form. You owe no additional charge. 
    2    Enter your 2022 regular tax (from 2022 Form M4NP, line 15 minus line 18)  .. ..... ...... ...... ..... ......                           2 
 
    3    Required annual payment. Enter the amount from line 1 or line 2, whichever is less  . ..... ...... ..... .....                          3 
         Exceptions: If you did not file a 2022 return or filed a return for less than a full 12-month period in  
    the preceding tax year, or you did not have a 2022 tax liability, you must enter the amount from line 1. 

                                                                               1st Quarter             2nd Quarter   3rd Quarter                   4th Quarter 

    4    Enter the due dates  ... ...... ..... ....... .....      4
 
       5 Required installments (see instructions)  ..... ....  5 
 
    6    Amount paid each period (see instructions)         . . . . . .  6 
    Complete lines 7–13 for one column before                 
    completing the next column.           For the first column  
    only, enter the amount from line 6 on line 10. 
    7    Enter the amount from line 13 of the previous column                  ... ...... .....      7                                          
 
    8    Add lines 6 and 7  .. ...... ...... ..... ...... ...... ..... ...... ...                  8                                            
 
    9    Add lines 11 and 12 of the previous column         ... ...... ..... ...... ...            9                                            
10       Subtract line 9 from line 8.  
    If less than zero, enter zero   .. ...... ...... ....  10                                                                                   
11       Remaining underpayment from previous  
    period. If line 10 is zero, subtract line 8  
    from line 9. Otherwise, enter zero  ... ..... ...... ..... ...... .....  11                                                                 
12    UNDERPAYMENT.         If line 10 is less than or  
    equal to line 5, subtract line 10 from line 5,  
    enter the result and go to line 6 of the next  
    column. Otherwise, go to line 13         . . . . . . . . . . . . . . 12                                                                     
13    OVERPAYMENT.         If line 5 is less than line 10,  
    subtract line 5 from line 10 and enter the  
    result. Go to line 6 of the next column   . ..... ... 13                                                                                    
14       Date underpayment is paid or regular due  
    date of 2023 return, whichever is earlier .... ....                     14                                                                  
15     Number of days from the due date on  
    line 4 to the date on line 14  ..... ..... ...... ..  15                                                                                    
16       Additional charge  
         (line 15 ÷ 365 × .08 × line 12)   .. ..... ...... ....  16                                                                             
 
17      TOTAL. Add amounts on line 16. Enter this amount on Form M4NP, line 26                         ... ...... ..... ....... ..... ...   17  
    Attach this schedule to Form M4NP. 
                                                                                   9995 

2023 Schedule M15NP Instructions 

Installment Methods 
Generally, you would choose the standard installment method unless your income varied during the year. If your income varied, see 
Alternative Methods on this page. 
Check the appropriate box to indicate the installment method being used. 

Required Annual Payment
Line 3 
Enter the amount from line 1 or line 2, whichever is less, unless one of the following exceptions apply: 
Exceptions:  You must enter the amount from line 1 on line 3, if any of the following exceptions apply: 
  •  You did not file a 2022 return 
  •  You filed a return for less than a full 12-month period in the preceding tax year 
  •  You did not have a 2022 tax liability 
[Minnesota Statute, Chapter 289A.26, subdivision 7(2)]. 

Figuring the Underpayment
Line 4 
The due dates of the installments are the 15th day of the third, sixth, ninth and 12th months of the taxable year. 
If you have a short taxable year, the installments are due on the 15th day of the third, sixth, ninth and final months. No installment is required 
for a short taxable year of fewer than four months. 
Line 5 
Each required installment is 25% of the amount on line 3 unless you use an alternative method (see Alternative Methods). 
To determine the amount of each required installment for a short taxable year, divide the amount on line 3 by the number of installments due. 
Line 6 
In the first column, enter payments made by the 15th day of the third month of the tax year. Include any overpayment from your 2022 return 
that was credited to your 2023 estimated tax account. For each of the other columns, enter payments made after the previous column’s due 
date and by that column’s due date shown on line 4. 

Computing the Additional Charge
Lines 14 through 17 
Payments of estimated tax are applied against any underpayments of required installments in the order that the installments were due. 
For example, if your first-quarter installment is underpaid by $100 and you deposit $200 for your second-quarter installment, $100 of your 
second-quarter payment is applied to the first quarter. The additional charge for the first quarter is computed from the first-quarter due date to 
the date the second-quarter payment is made. 
Also, the second-quarter installment will then be underpaid by $100 (assuming that the second-quarter’s required installment is $200) until 
sufficient payments are received to eliminate the underpayment. 
If more than one payment has been made for a required installment, attach a separate computation for each payment. 

Alternative Methods 
If your income varied during the year, there are two alternative methods of determining the required installment: 
  •  Adjusted Seasonal Installment Method 
  •  Annualized Income Installment Method 
To use one or both of these methods to figure one or more required installments,complete Schedule A of federal Form   2220 and make the 
following adjustments for Minnesota tax purposes. 
Lines 1a, 1b, 1c and 2. Column (a) of these lines should include income for the first two months of each tax year. 
Lines 3a, 3b and 3c. Column (a) of these lines should include income for the first three months of each tax year. 
Line 10. Use the tax rate of 9.8%. 
Line 20. Enter your Minnesota annualization periods, using the following: 
  •  In Column (a), enter 2. 
  •  In Column (b), enter either 2 or 5. 
  •  In Column (c), enter either 6 or 8. 
                                                                                                                      Continued
  •  In Column (d), enter either 9 or 11.                                                                                                   1 

2023 Schedule M15NP Instructions (Continued) 

Line 21. Enter your Minnesota taxable income for the periods entered on line 20. 
Line 22:If your annualization period on line 20 is:           your annualization amount for the period is: 
     2 .........................................................  6 
     5 .........................................................  2.4 
     6 .........................................................  2 
     8 .........................................................  1.5 
     9 .........................................................  1.33333 
11  .........................................................  1.09091 
Line 24. Use the tax rate of 9.8%. 
Line 35. Enter 25% (0.25) of line 3 of Schedule M15NP in each column. 
Line 38. Enter the required installments from line 38 on line 5 of Schedule M15NP. 
Attach the federal schedule to this schedule if an alternative method is used for any installment. 

Questions? 
Website:   www.revenue.state.mn.us 
Email:   ubi.taxes@state.mn.us 
Phone:   651-297-5199 weekdays 8 a.m. to 4:30 p.m. 
This information is available in alternate formats. 

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