Minnesota Statutes 289A.30 – Extensions for Paying Tax
Subdivision 1.Fiduciary income, corporate franchise tax.
Where good cause exists, the commissioner may extend the time for payment of the amount determined as a fiduciary income tax or corporate franchise tax by the taxpayer, or an amount determined as a deficiency, for a period of not more than six months from the date prescribed for the payment of the tax.
Subd. 2.Estate tax.
Terms Used In Minnesota Statutes 289A.30
- Commissioner: means the commissioner of revenue of the state of Minnesota or a person to whom the commissioner has delegated functions. See Minnesota Statutes 289A.02
- Fiduciary: A trustee, executor, or administrator.
- Internal Revenue Code: means the Internal Revenue Code of 1986, as amended through May 1, 2023. See Minnesota Statutes 289A.02
- Person: means an individual, partnership, corporation, association, governmental unit or agency, or public or private organization of any kind, under a duty to comply with state tax laws because of its character or position. See Minnesota Statutes 289A.02
- Tax: means any fee, charge, exaction, or assessment imposed by a governmental entity on an individual, person, entity, transaction, good, service, or other thing. See Minnesota Statutes 645.44
- Taxpayer: means a person subject to, or liable for, a state tax; a person required to file a return with respect to, or to pay, or withhold or collect and remit, a state tax; or a person required to obtain a license or a permit or to keep records under a law imposing a state tax. See Minnesota Statutes 289A.02
Terms Used In Minnesota Statutes 289A.30
- Commissioner: means the commissioner of revenue of the state of Minnesota or a person to whom the commissioner has delegated functions. See Minnesota Statutes 289A.02
- Fiduciary: A trustee, executor, or administrator.
- Internal Revenue Code: means the Internal Revenue Code of 1986, as amended through May 1, 2023. See Minnesota Statutes 289A.02
- Person: means an individual, partnership, corporation, association, governmental unit or agency, or public or private organization of any kind, under a duty to comply with state tax laws because of its character or position. See Minnesota Statutes 289A.02
- Tax: means any fee, charge, exaction, or assessment imposed by a governmental entity on an individual, person, entity, transaction, good, service, or other thing. See Minnesota Statutes 645.44
- Taxpayer: means a person subject to, or liable for, a state tax; a person required to file a return with respect to, or to pay, or withhold or collect and remit, a state tax; or a person required to obtain a license or a permit or to keep records under a law imposing a state tax. See Minnesota Statutes 289A.02
Where good cause exists, the commissioner may extend the time for payment of estate tax for a period of not more than six months. If an extension to pay the federal estate tax has been granted under section 6161 of the Internal Revenue Code, the time for payment of the estate tax without penalty is extended for that period. A taxpayer who owes at least $5,000 in taxes and who, under section 6161 or 6166 of the Internal Revenue Code has been granted an extension for payment of the tax shown on the return, may elect to pay the tax due to the commissioner in equal amounts at the same time as required for federal purposes. A taxpayer electing to pay the tax in installments shall defer a percentage of tax that does not exceed the percentage of federal tax deferred and must notify the commissioner in writing no later than nine months after the death of the person whose estate is subject to taxation. If the taxpayer fails to pay an installment on time, unless it is shown that the failure is due to reasonable cause, the election is revoked and the entire amount of unpaid tax plus accrued interest is due and payable 90 days after the date on which the installment was payable.