Screen MNGen - Minnesota Corporate Income Tax Return (1120)

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General Information

Final return (C Corp)
For C Corporations only, enter the details for the taxpayer filing a final return. Also note that when you enter data in this field, the estimated tax worksheet is not calculated.
note
Returns marked as final in the previous year won’t proforma to the current year. If the federal return is marked as final, the client won’t appear in the list of clients that are available to proforma.
Final return, if different from federal Screen 1120 (S Corp)
Enter
X
if this is the client’s final return. If indicated here or in the application that this is the client’s final return, the application marks the
Final return
checkbox on Form M8.
note
Returns marked as final in the previous year won’t proforma to the current year. If the federal return is marked as final, the client won’t appear in the list of clients that are available to proforma.
Financial institution (S Corp)
Enter
X
if the client is a national or state bank, bank holding company, savings and loan, or other qualifying financial institution. If you mark this field, intangible property adjustments are made in the apportionment calculation, and the
Financial Institution
field is marked on Form M8 for S Corporations.

M4 Additional Information (C Corp)

RIC, REIT, or REMIC is exempt from minimum fee
Enter
X
if the client is a regulated investment company, a real estate investment trust, or a real estate mortgage investment conduit. If this field is marked, the minimum fee and Schedules AMTI and AMTT are not calculated. The application defaults to this behavior if federal Form 1120-REIT is filed.

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