Minnesota Non-Resident tax return

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Mr. Digweed
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Joined: Fri Apr 04, 2014 11:22 am

Minnesota Non-Resident tax return

Post by Mr. Digweed » Fri Feb 27, 2015 3:38 pm

To file, or not. I was hoping some here might have insight.

Minnesota has a requirement ($10,150 for 2014) to determine if one need file a non-resident tax return. See attached link.

http://www.revenue.state.mn.us/individu ... dents.aspx

Am I correct in thinking, no matter the source (whether from wage income or dividends), if the total amount of money is less 10,150 I don't need to report to Minnesota?

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in_reality
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Re: Minnesota Non-Resident tax return

Post by in_reality » Fri Feb 27, 2015 5:01 pm

Mr. Digweed wrote:To file, or not. I was hoping some here might have insight.

Minnesota has a requirement ($10,150 for 2014) to determine if one need file a non-resident tax return. See attached link.

http://www.revenue.state.mn.us/individu ... dents.aspx

Am I correct in thinking, no matter the source (whether from wage income or dividends), if the total amount of money is less 10,150 I don't need to report to Minnesota?
Um, what do you "the total amount"?

If you were a MN resident for part of the year, you need to include all income during that time no matter the source including income outside of MN. You also need to include all income from MN for the year. If the combined total is under the 10,150 limit, then you don't need to file.

That is my understanding at least.

http://www.revenue.state.mn.us/individu ... ncome.aspx

Boats day
Posts: 59
Joined: Thu Mar 06, 2014 11:39 am

Re: Minnesota Non-Resident tax return

Post by Boats day » Fri Feb 27, 2015 8:01 pm

I just finished my turbo tax return . In 2014 I moved out of mn to Hawaii. Turbo tax walked me through filing for both state of mn and Hawaii. It transfers all income dividends capital gains ssi payments and pensions on a worksheet then I had to allocate what percent applied to Hawaii and what percent applied to mn. I only lived in mn for 2 weeks so the allocation was 4% for Mn and 96 % for Hawaii . Turbotax guides you to file for both states using part year residents form.
The tax for mn will be zero but it still guides you to file. I have not pushed th e file button yet so I will be reading comments here. I am not sure Im doing it correct .

Topic Author
Mr. Digweed
Posts: 132
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Re: Minnesota Non-Resident tax return

Post by Mr. Digweed » Fri Feb 27, 2015 9:37 pm

Thank you both.

I was a "non-resident" for all of last year (2014).

I received a dividend from a Minnesota company.

If I read it correctly, I do not need to file a non-resident tax return (for this dividend) if the income amounts' to less than 10 thousand.

JoeJohnson
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Re: Minnesota Non-Resident tax return

Post by JoeJohnson » Fri Feb 27, 2015 9:56 pm

Income requirements
If your gross income earned in Minnesota and from sources in
Minnesota is more than the minimum filing requirement, you
are required to file Minnesota Form M1.
Minnesota gross income
includes:
• wages, salaries, fees, commissions, tips or bonuses for work
performed in Minnesota. (Do not include any active duty military
pay for service in Minnesota.)
• deferred income wages earned in Minnesota, such as severance
pay, equity based pay and other non-statuatory deferred
compensation
• gross rents and royalties from property located in Minnesota
• gross winnings from gambling in Minnesota
• gains from the sale of land or other tangible property located
in Minnesota
• gain on the sale of goodwill or income from an agreement not
to compete connected with a business operating in Minnesota,
to the extent that the income of the business for the year preceding
the year of sale was assigned to Minnesota
• gains from the sale of a partnership interest, to the extent the
partnership had property or sales in Minnesota
• gross income from a business located in Minnesota or a profession
conducted partly or entirely in Minnesota, including any
Minnesota gross income you may have received as a shareholder
of an S corporation or as a partner of a partnership
Although gross income determines whether you must fi le a Minnesota
return, only net income is ultimately taxed.



See the bolded. http://www.revenue.state.mn.us/individu ... ts_fs3.pdf

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grabiner
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Re: Minnesota Non-Resident tax return

Post by grabiner » Fri Feb 27, 2015 11:15 pm

Mr. Digweed wrote:I was a "non-resident" for all of last year (2014).

I received a dividend from a Minnesota company.

If I read it correctly, I do not need to file a non-resident tax return (for this dividend) if the income amounts' to less than 10 thousand.
The dividend from a MN company would not even be taxable in MN for a non-resident. Income from intangible investments, such as dividends and interest, has a source in your home state, not in the state where the payer is located. (An example of a tangible investment is real estate; if you own a rental property, the rent on that property and the capital gain on its sale are usually taxed by the state where the property is located.)

The tax filing limit is intended to make things easier for nonresidents who do some work in MN. MN does tax wages paid for work in MN, but if you do most of your work in another state, so that your MN source wages are less than $10,150, you won't owe MN state tax on those wages.
Wiki David Grabiner

Topic Author
Mr. Digweed
Posts: 132
Joined: Fri Apr 04, 2014 11:22 am

Re: Minnesota Non-Resident tax return

Post by Mr. Digweed » Sat Feb 28, 2015 9:36 pm

Thank you all for answering my question.

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