Minnesota § 290.033 NET INVESTMENT INCOME TAX

Minnesota Statutes

§ 290.033 — NET INVESTMENT INCOME TAX

Minnesota § 290.033

PartVARIOUS STATE TAXES AND PROGRAMS

Ch. 290INCOME AND FRANCHISE TAXES

This text of Minnesota § 290.033 (NET INVESTMENT INCOME TAX) 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. § 290.033 (2026).

Text

(a)For purposes of this section, "net investment income" has the meaning given in section 1411(c) of the Internal Revenue Code, excluding the net gain attributable to the disposition of property classified as class 2a under section273.13, subdivision 23.

(b)In addition to the tax computed under section290.06, subdivision 2c, a tax is imposed on the net investment income of individuals, estates, and trusts in excess of $1,000,000 at a rate of one percent.

(c)For an individual who is not a Minnesota resident for the entire taxable year, the tax under this subdivision must be calculated as if the individual is a Minnesota resident for the entire year, and that amount must be multiplied by a fraction in which:

(1)the numerator is net investment income allocable under section290.17to Minnes

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(a) For purposes of this section, "net investment income" has the meaning given in section 1411(c) of the Internal Revenue Code, excluding the net gain attributable to the disposition of property classified as class 2a under section273.13, subdivision 23.
(b) In addition to the tax computed under section290.06, subdivision 2c, a tax is imposed on the net investment income of individuals, estates, and trusts in excess of $1,000,000 at a rate of one percent.
(c) For an individual who is not a Minnesota resident for the entire taxable year, the tax under this subdivision must be calculated as if the individual is a Minnesota resident for the entire year, and that amount must be multiplied by a fraction in which:
(1) the numerator is net investment income allocable under section290.17to Minnesota; and
(2) the denominator is the total amount of net investment income for the taxable year.
(d) For an estate or trust, the tax on net investment income must be computed by multiplying the net investment income tax liability by a fraction, the numerator of which is the amount of the estate or trust's net investment income allocated to the state pursuant to the provisions of sections290.17,290.191, and290.20, and the denominator of which is the taxpayer's total net investment income.