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S Corporation Estimated Tax Instructions
Estimated payments for S corporations filing Form M8
Filing Requirements Underpaying Installments. If you under- ACH Credit Method and FedWire. If
An S corporation must pay estimated tax pay any installment or did not pay by the you use other electronic payment methods,
if the sum of its estimated S corporation due dates, an additional charge for under- such as ACH credit method or Fed Wire, be
taxes, minimum fee, nonresident withhold- payment will be added to your tax (see sure to check with your bank or Fed Wire
ing and composite income tax for all non- Schedule EST). representative to find out when to initiate
resident shareholders electing to participate Minnesota Tax ID Number. If you don’t the payment in order for it to be received on
in composite income tax, less any credits, is have a Minnesota tax ID number, you must time. Some banks require up to three busi-
$500 or more. first apply for one. You can apply online at ness days to transfer funds. If needed, ACH
www.revenue.state.mn.us or by calling credit method instructions are available on
The S corporation must pay quarterly install- 651-282-5225 or 1-800-657-3605. our website at www.revenue.state.mn.us.
ments based on its required annual payment.
If the S corporation taxes/minimum fee/ Check Payment Option
nonresident withholding and composite Paying Electronically If you’re not required to pay electronically
income tax are subject to the estimated tax If you’re required to pay any Minnesota and are paying by check, visit our website
requirements, include all in the same quar- business tax electronically, such as sales at www.revenue.state.mn.us and click on
terly payments. and withholding tax, you’re required to pay “Make a Payment” and then “By check” to
all Minnesota taxes electronically—includ- create a voucher. Print and mail the voucher
A corporation is not required to pay esti- ing S corporation estimated tax. with a check made payable to Minnesota
mated taxes the first year it is subject to tax Failure to pay electronically when required Revenue.
in Minnesota.
will result in a penalty being assessed. The When you pay by check, your check autho-
penalty is 5 percent of each payment that
Required Annual Payment. The required rizes us to make a one-time electronic fund
should have been remitted electronically,
annual payment is the lesser of: but was remitted by some other means. transfer from your account. You may not
• 90 percent of the current year’s tax liabil- receive your cancelled check.
ity; or Electronic Payment Options Tax-Year End Date. Enter the ending date
• Go to www.revenue.state.mn.us and log
• 100 percent of the prior year’s tax liability. in to e-Services; or of the tax year for which the estimated tax
The required annual payment must be paid payment is being made. For example, if
in four equal installments unless certain • Call 1-800-570-3329 to pay by phone. your tax year ends on Dec. 31, 2019, enter
exceptions apply (see the instructions for You’ll need your user name, password December 2019 on each of the four install-
Schedule EST, Additional Charge for Un- and banking information. When paying ments.
electronically, you must use an account not
derpayment of Estimated Tax). associated with any foreign banks. Make your check payable to Minnesota
You can pay your installments electroni- Revenue and mail it with your completed
cally or by credit/debit card. If you’re not After you authorize the payment, you’ll re- voucher to Minnesota Revenue.
required to pay electronically and are ceive a confirmation number. You can can-
paying by check, visit our website at www. cel a payment up to one business day before Information and Assistance
revenue.state.mn.us and click on “Make a the scheduled payment date, if needed. Website: www.revenue.state.mn.us
Payment” and then “By check” to create a Credit or Debit Card. For a fee, you can Email: BusinessIncome.tax@state.mn.us
voucher. Print and mail the voucher with a use your credit or debit card to make a
check made payable to Minnesota Revenue. Phone: 651-556-3075
payment through Value Payment Systems, a
This material is available in alternate
Due Dates. Quarterly installments are due national company that partners with federal,
formats.
by the 15th day of the fourth, sixth and state and local governments to provide
ninth months of the tax year and the first credit and debit card payment services.
month following the end of the tax year. To do so:
Installments for a short tax year are due in • Go to paystatetax.com/mn; or
equal payments on the 15th day of the third, • Call 1-855-9-IPAY-MN.
sixth, ninth and final months of the tax year
depending on the number of months in the The Department of Revenue does not have
short tax year. No installments are required any financial agreement with Value Pay-
for a short tax year of fewer than four ment Systems and does not receive any of
months. its fees.
If the due date falls on a Saturday, Sunday
or legal holiday, payments electronically Stop writing checks Pay electronically!
made or postmarked the next business day It’s Secure, Easy, Convenient, Free
are considered timely.
www.revenue.state.mn.us
(Rev. 8/19)
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