Tag: Minnesota

Pass-Through Entity (PTE) Tax in Minnesota: Changes and Implications

Jun 12, 2023

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by

Zhoudi Tang, CPA

in Tax Insights

Minnesota’s Pass-Through Entity (“PTE”) tax enables an entity to electively pay taxes on behalf of its partners, members, or shareholders. This election is available for tax years starting after December 31, 2020. With the introduction of H.F. 1938, effective for tax years beginning after December 31, 2022, there are several modifications to the PTE tax.…