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    3                                                                 FINAL DRAFT 10/2/23                                                                                                                                              3
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    8                                                                                                                                                                                                                                  8
       2023 DIV, Deduction for Dividends Received
    9                                                                                                                                                                                                                                  9
    10 Complete Schedule DIV to determine your deduction for dividends received.                                                                                                                                                       10
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    14                                                                                                                                                                                                                                 14
    15                                                                                                                                                                                                                                 15
       NAME OF CORPORATIONXXXXXXXXXXXXXXXXXXXX                                                                                                 123456789                    123456789
    16 Name of Corporation/Designated Filer                                                                                                    FEIN                         Minnesota Tax ID Number                                    16
    17                                                                                                                                                                                                        You must round amounts   17
    18                                                                                                                                                                                                        to nearest whole dollar. 18
    19   1 Total dividends and inclusions                                                                                                                                                                                              19
    20     (from federal Form 1120, line 4; unitary businesses, see instructions)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  1                                         123456789                20
    21                                                                                                                                                                                                                                 21
    22   2 This line intentionally left blank  . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . .  . 2                                22
    23                                                                                                                                                                                                                                 23
    24   3 This line intentionally left blank  . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . .  . 3                                24
    25                                                                                                                                                                                                                                 25
    26   4 Add lines 1 through 3   .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . .  . 4 123456789                26
    27                                                                                                                                                                                                                                 27
    28   5 Dividends from less-than-20-percent-owned companies   .  .  .  .  .  .  .  .  .  .  .  .  .  .  5                                   123456789                                                                               28
    29                                                                                                                                                                                                                                 29
    30   6 Dividends from foreign sales corporations    . . .  . . . . . .  . . . . .  . . . . . . .  . . . .  .  6                                                                                                                    30
                                                                                                                                               123456789
    31                                                                                                                                                                                                                                 31
    32   7 Combined intercompany dividends  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  .  7                           123456789                                                                               32
    33                                                                                                                                                                                                                                 33
    34   8 Gross-up for foreign taxes deemed paid    . . .  . . . . . .  . . . . .  . . . . . . .  . . . . . 8 .  .                            123456789                                                                               34
    35     (from federal Form 1120, Sch. C, line 18)                                                                                                                                                                                   35
    36   9 Dividends received from a real estate investment trust (REIT)                . . .  . . . . . . 9 .                                 123456789                                                                               36
    37                                                                                                                                                                                                                                 37
    38  10 Dividends on debt-financed stock                                                                                                                                                                                            38
    39     (see inst.)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . .  .  10  123456789                                                                               39
    40                                                                                                                                                                                                                                 40
    41  11 Other dividends not already listed on line 5 through 10                                                                                                                                                                     41
    42     (see inst.)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . .  .  11  123456789                                                                               42
    43                                                                                                                                                                                                                                 43
    44  12 Total subtractions (add lines 5 through 11)    . .  . . . . .  . . . . .  . . . . . .  . . . . .  . 12                              123456789                                                                               44
    45                                                                                                                                                                                                                                 45
    46  13 Dividends subject to 50 percent deduction                                                                                                                                                                                   46
    47     (subtract line 12 from line 4) . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . . 13                   123456789                                                                               47
    48                                                                                                                                                                                                                                 48
    49  14 Deduction percentage   . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . 14                         50%                                                                              49
    50                                                                                                                                                                                                                                 50
    51  15 Minnesota deduction (multiply line 13 by line 14)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . .  15                                                     51
                                                                                                                                                                                                              123456789
    52  16 Dividends from less-than-20-percent-owned companies                                                                                                                                                                         52
    53     (from line 5 above)   . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . .  .  16           123456789                                                                               53
    54                                                                                                                                                                                                                                 54
    55  17 Deduction percentage   . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . 17                         40%                                                                              55
    56                                                                                                                                                                                                                                 56
    57  18 Minnesota deduction (multiply line 16 by line 17)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . .  18                            123456789                57
    58                                                                                                                                                                                                                                 58
    59  19 Dividends subject to apportionment (add lines 15 and 18)    . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . .  19                                    123456789                59
    60     Use this amount to calculate Form M4T, line 8.                                                                                                                                                                              60
    61                                                                                                                                                                                                                                 61
    62                                                                                                                                                                                                                                 62
    63                                                                                        9995                                                                                                                                     63
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                                                  FINA LDRAFT 10/2/23

2023 Schedule DIV Instructions

Complete Schedule DIV to determine your deduction for dividends received.
Purpose of Schedule DIV
Use Schedule DIV, Deduction for Dividends Received, to calculate your deduction for dividends received by a member of your combined 
group. The dividend must be paid by a corporation outside the combined group.
The dividend received deduction is allowed for dividends that are included in the corporation’s Minnesota taxable net income for the taxable 
year. For tax years beginning after December 31, 2022, Global Intangible Low Taxed Income is included in the calculation of Minnesota 
dividends for the Dividend Received Deduction. 
The dividends received deduction is not allowed if the corporation does one of the following:
• Includes the stock in its inventory 
• Holds the stock primarily for sale to customers in the ordinary course of business 
• Conducts business that consists mainly of holding the stocks and collecting income and gains from them
Line Instructions
Line 1
Enter your dividends and inclusions received from federal Form 1120, line 4.
Unitary businesses: Enter the sum of the dividends received by each corporation included on your combined return.
Line 7
Enter any dividends from line 1 that are received by a corporation included on your combined return from a corporation included on your 
combined return.
Line 10
Enter any dividends included on line 1 that are received on debt-financed stock under IRC section 246A and not allowed a federal dividends 
received deduction.
Line 11
Enter any dividends included on line 1 from federal Form 1120, Schedule C:
•  Amount of Section 965(a) inclusion
•  Line 20 - Other dividends