Minnesota § 290.9726 CORPORATION TAXABLE INCOME TAXED TO SHAREHOLDERS

Minnesota Statutes

§ 290.9726 — CORPORATION TAXABLE INCOME TAXED TO SHAREHOLDERS

Minnesota § 290.9726

PartVARIOUS STATE TAXES AND PROGRAMS

Ch. 290INCOME AND FRANCHISE TAXES

This text of Minnesota § 290.9726 (CORPORATION TAXABLE INCOME TAXED TO SHAREHOLDERS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 290.9726 (2026).

Text

Subdivision 1.General rule. The gross income of the shareholders of corporations described in section290.9725shall be computed under the provisions of section290.01, subdivision 20. Subd. 2.Character of items distributed or considered distributed. The character of any item of income, gain, loss, or deduction included in shareholder's income, for the period of time that the shareholder is not a resident of Minnesota, shall be determined as if the item were realized directly from the source from which it was realized by the corporation or incurred in the same manner as incurred by the corporation. Subd.

3.[Repealed,1987 c 268 art 1 s 127] Subd. 4.Treatment of family groups. Any amount of taxable income apportioned or allocated to a shareholder may be reapportioned or reallocated under t

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Subdivision 1.General rule.
The gross income of the shareholders of corporations described in section290.9725shall be computed under the provisions of section290.01, subdivision 20.

Subd. 2.Character of items distributed or considered distributed.
The character of any item of income, gain, loss, or deduction included in shareholder's income, for the period of time that the shareholder is not a resident of Minnesota, shall be determined as if the item were realized directly from the source from which it was realized by the corporation or incurred in the same manner as incurred by the corporation.

Subd. 3.
[Repealed,1987 c 268 art 1 s 127]

Subd. 4.Treatment of family groups.
Any amount of taxable income apportioned or allocated to a shareholder may be reapportioned or reallocated under the provisions of section 1366(e) of the Internal Revenue Code if the commissioner determines it necessary in order to correctly reflect the value of services rendered to the corporation by the shareholders.

Subd. 5.
[Repealed,1987 c 268 art 1 s 127]

Subd. 6.
[Repealed,1987 c 268 art 1 s 127]

Subd. 7.
[Repealed,1Sp2001 c 5 art 9 s 30]

Legislative History

1982 c 523 art 1 s 61;1983 c 207 s 39,40,43;1983 c 342 art 1 s 43;1984 c 514 art 1 s 8; art 4 s 9;1985 c 210 art 2 s 8;1Sp1985 c 14 art 21 s 49;1986 c 444;1Sp1986 c 1 art 1 s 9;1987 c 268 art 1 s 114-116;1988 c 719 art 3 s 12;1989 c 28 s 25;1990 c 604 art 2 s 16;1991 c 291 art 6 s 46;1992 c 511 art 6 s 19;1993 c 375 art 8 s 14;1994 c 587 art 1 s 24;1999 c 243 art 2 s 27