In this topic we cover some of the differences between the way Minnesota and IRS taxes business and self-employment income. Please use the "Reading Material" link for Minnesota reading material.

Student Instructions: Follow the following 2 steps:

Step	Instructions - You should do all of the following (steps 1 - 2)	Links:

Step 1	Read the reading material and answer the questions on this page (scroll down). So before you go to the reading material look at steps 1 and 2 here and at the questions on this page.	Reading Material
Step 2	Take each question below (scroll down) and write a paragraph for each question as part of an essay. Include one paragraph for an introduction and a paragraph for a conclusion. Each paragraph should have at least three complete sentences. Once you have your essay prepared, click on Submit Essay to submit your work one paragraph at a time. You should not go to submit essay until your essay is prepared.	Submit Essay

Most forms are in Adobe Acrobat PDF format. You will need Adobe Reader to view and print these forms. If you do not already have Adobe Reader installed on your computer, you may download the software for free.

Tax Interview Topic MN 6

Introduction - For the introduction part of this essay, you may want to first answer the following three questions with one paragraph each and then come back to fill in the introduction and mention something from each of the three paragraphs.

What forms do you use to report your self-employment income to Minnesota? What is the process of reporting your sole proprietor business to Minnesota?

What forms do you use to report your partnership income to Minnesota? How is this different from reporting your sole proprietorship to Minnesota? What can you say about the minimum fee required by Minnesota? Who pays it?

Does Minnesota have a tax credits that provide an incentive for businesses to do business in the state of Minnesota? What are these credits? What happened to the Angel Tax Credit? What are the adjustments you must make in reference to depreciation such as Section 179 depreciation and the bonus depreciation allowance?

For the conclusion part of this essay, you may mention something from each of the three previous paragraphs and offer an opinion. What do you think about all this? You may want to start this paragraph "In Conclusion..."

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Revised: 01/31/18