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    3                                                                                NEAR FINAL DRAFT 8/1/24                                                                                                                                                        3
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    6                                                                                                                                                                                                                                *247311*6
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    8                                                                                                                                                                                                                                                               8
       2024 KPC, Partner’s Share of Income, Credits  
    9                                                                                                                                                                                                                                                               9
    10 and Modifications                                                                                                                                                                                                                                            10
       Partnership: Complete and provide Schedule KPC to each corporate or partnership partner. For individual, estate and trust partners, use Schedule KPI instead.
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    12                                                                                                                                                                                                                                                              12
    13 Tax year beginning (MM/DD/YYYY)  MM                                     / DD     /YYYY           and ending (MM/DD/YYYY)         MM  / DD     /                                       YYYY                                              Amended KPC:  X      13
    14                                                                                                                                                                                                                                                              14
    15 1234567890                                                                                                  0123456789                                                                                                           0123456789                  15
    16 Partner’s Federal ID Number                                                                                 Parternship’s Federal ID Number                                                                                      Partnership’s Minnesota ID  16
    17 PARTNER’S NAME                                                                                              PARTNERSHIP’S NAME                                                                                                                               17
    18 Partner’s Name                                                                                              Partnership’s Name                                                                                                                               18
    19 MAILING ADDRESS                                                                                             MAILING ADDRESS                                                                                                                                  19
    20 Mailing Address                                                                                             Mailing Address                                                                                                                                  20
    21 CITYXXXXXXXXXX MN     XXXXX                                                                                 CITY                                               MN     12345                                                                                  21
    22 City                                                     State         ZIP Code                             City                                               State                                                                    ZIP Code             22
    23                                                                                                                                                                                                                                                              23
    24 Entity Partner of                             X          CorporationS   X       CorporationC         X  Exempt    X    Partnership     Partner’s Distributiv                                                                     e                           24
    25 (check one box):                                                                                        Organization                   Share:                                         XXXXXXX                                           %                    25
    26                                                                                                                                                                                                                                                              26
    27                                                                                                                                                  Round amounts to the nearest dollar.                                                                        27
    28 Corporate and Partnership Partners                                                                                                                                                                                                                           28
    29   1  Nonapportionable Minnesota source income                                    . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  .    1                      0123456789                  29
    30                                                                                                                                                                                                                                                              30
    31   2         Total nonapportionable income   .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  .  . 2                                     0123456789                  31
    32                                                                                                                                                                                                                                                              32
    33   3  Partnership’s minimum fee                                         . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . .  . 3  0123456789                  33
    34                                                                                                                                                                                                                                                              34
    35   4  Interest income exempt from federal tax  . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . .  . 4                                                   0123456789                  35
    36                                                                                                                                                                                                                                                              36
    37   5  State taxes deducted in arriving at partnership’s net income   . . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . 5                                                                   0123456789                  37
    38   6  Expenses deducted that are attributable to income not taxed by Minnesota                                                                                                                                                                                38
    39             (other than interest or mutual fund dividends from U.S. bonds)    . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . .  . 6                                                               0123456789                  39
    40                                                                                                                                                                                                                                                              40
    41   7         100% of partner’s distributive share of federal bonus depreciation                        . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . .  . 7                                           0123456789                  41
    42                                                                                                                                                                                                                                                              42
    43   8  Foreign-derived intangible income (FDII) deduction  . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . 8                                                            0123456789                  43
    44                                                                                                                                                                                                                                                              44
    45   9         This line intentionally left blank . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . 9                                                             45
    46                                                                                                                                                                                                                                                              46
    47   10a       Partner’s pro rata gross profit from installment sales of pass-through  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . .  . 10a                                                                    0123456789                  47
    48             businesses (see instructions)                                                                                                                                                                                                                    48
    49   10b       Partner’s pro rata installment sale income from pass-through . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  .  . 10b                                                               0123456789                  49
    50             businesses (see instructions)                                                                                                                                                                                                                    50
    51  11  This line intentionally left blank   . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . .  . 11                                                                     51
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    3                                                                                            NEAR FINAL DRAFT 8/1/24                                                                                                                                              3
    4                                                                                                                                                                                                                                                                 4
       2024 KPC, page 2
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    6                                                                                                                                                                                                                             *247321*                            6
    7                                                                                                                                                                                                                                                                 7
    8  PARTNER’S NAMEXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX                                                                                                                                                                                  0123456789                      8
    9  Partner’s Name                                                                                                                                                                                                                 Partner’s Federal ID Number     9
    10 PARTNERSHIP NAMEXXXXXXXXXXXXXXXXXXXXXXXXXXXXX                                                                                                                                                                                  0123456789                      10
    11 Partnership’s Name                                                                                                                                                                                                             Partnership’s Federal ID Number 11
    12                                                                                                                                            Round amounts to the nearest dollar.                                                                                12
    13                                                                                                                                                                                                                                                                13
    14  17  Interest from U.S. government bond obligations, minus any expenses                                                                                                                                                                                        14
    15      deducted on the federal return that are attributable to this income . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . .  . 17                                                                       0123456789                      15
    16                                                                                                                                                                                                                                                                16
    17  18  Deferred foreign income (section 965)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 18                                                0123456789                      17
    18                                                                                                                                                                                                                                                                18
    19  19  Disallowed section 280E expenses of a licensed cannabis or hemp business  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  .  . 19                                                                                0123456789                      19
    20                                                                                                                                                                                                                                                                20
    21  20  State income tax refund included in income   . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . .  . 20                                                     0123456789                      21
    22                                                                                                                                                                                                                                                                22
    23  21  This line intentionally left blank                                  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 21                                      23
    24                                                                                                                                                                                                                                                                24
    25  22  This line intentionally left blank                                  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 22                                      25
    26                                                                                                                                                                                                                                                                26
    27  23  Partner’s pro rata share of a net gain relating to dispositions of Class 2a property  . . .  . . . . . .  . . . . .  . . . . . .  . .  . 23                                                                               0123456789                      27
    28                                                                                                                                                                                                                                                                28
    29  24  Partner’s pro rata share of deductions and modifications relating to line 23  . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . .  . 24                                                                            0123456789                      29
    30                                                                                                                                                                                                                                                                30
    31  25  State Housing Tax Credit . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . 25                                    0123456789                      31
    32                                                                                                                                                                                                                                                                32
    33      Enter certificate number from Minnesota Housing: SHTC -                                          0123   45678900000                                                                                                                                       33
    34                                                                                                                                                                                                                                                                34
    35  26  Short Line Railroad Infrastructure Modernization Credit   . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . 26                                                              0123456789                      35
    36                                                                                                                                                                                                                                                                36
    37  27  Credit for Sales of Manufactured Home Parks to Cooperatives  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . .  . 27                                                                      0123456789                      37
    38                                                                                                                                                                                                                                                                38
    39  28  Credit for increasing research activities                                      . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . .  . 28          0123456789                      39
    40                                                                                                                                                                                                                                                                40
    41  29  Film Production Tax Credit  . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . .  . 29                                     0123456789                      41
    42                                                                                                                                                                                                                                                                42
    43      Enter the credit certificate number: TAXC -                                          0123456789                                                                                                                                                           43
    44                                                                                                                                                                                                                                                                44
    45  30  Tax Credit for Owners of Agricultural Assets . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . 30                                                   0123456789                      45
    46      Enter the certificate number from the certificate received from the Rural Finance Authority:                                                                                                                                                              46
    47                                                                                                                                                                                                                                                                47
    48     AO                 0123   45678900000                                                                                                                                                                                                                      48
    49                                                                                                                                                                                                                                                                49
    50  31  Credit for Sustainable Aviation Fuel   .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . .  . 31                                           0123456789                      50
    51                                                                                                                                                                                                                                                                51
    52     Enter certificate number from the Department of Agriculture:                                             0123456789                                                                                                                                        52
    53                                                                                                                                                                                                                                                                53
    54  32  Credit for historic structure rehabilitation                                   . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  .  . 32              0123456789                      54
    55                                                                                                                                                                                                                                                                55
    56     National Park Service (NPS) number:                                            0123456789                                                                                                                                                                  56
    57                                                                                                                                                                                                                                                                57
    58  33  Employer Transit Pass Credit  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . .  . 33                                        0123456789                      58
    59                                                                                                                                                                                                                                                                59
    60  34  Enterprise Zone Credit                                   . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . 34  0123456789                      60
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    3                                                  NEAR FINAL DRAFT 8/1/24                                                                                                                                              3
    4                                                                                                                                                                                                                       4
       2024 KPC, page 3
    5                                                                                                                                                                                                                       5
    6                                                                                                                                                                                   *247351*                            6
    7                                                                                                                                                                                                                       7
    8  PARTNER’S NAMEXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX                                                                                                                                        0123456789                      8
    9  Partner’s Name                                                                                                                                                                       Partner’s Federal ID Number     9
    10 PARTNERSHIP NAMEXXXXXXXXXXXXXXXXXXXXXXXXXXXXX                                                                                                                                        0123456789                      10
    11 Partnership’s Name                                                                                                                                                                   Partnership’s Federal ID Number 11
    12                                                                                                                                                    Round amounts to the nearest dollar.                              12
    13                                                                                                                                                                                                                      13
    14  35  Minnesota backup withholding    . . . .  . . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . .  . 35  0123456789                      14
    15 Apportionment Information (partner’s share)                                                                                                                                                                          15
    16  36  Pro Rata Share MN Source Gross Income  . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . .  . 36          0123456789                      16
    17                                                                                                                                 Property                                                    Sales                    17
    18                                                                                                                                                                                                                      18
    19  37  Minnesota   . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  .37  0123456789                                            0123456789                      19
    20                                                                                                                                                                                                                      20
    21  38  Everywhere    . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  .38  0123456789                                            0123456789                      21
    22                                                                                                                                                                                                                      22
    23 Partnership: Include this schedule and copies of federal Schedules K and K-1 with your Form M3.                                                                                                                      23
    24 Partner: Include this schedule when you file your Form M3, M4 or M8.                                                                                                                                                 24
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