Form KS Shareholder's Share of Income, Credits and Modifications - Minnesota

What Is Form KS?

This is a legal form that was released by the Minnesota Department of Revenue - a government authority operating within Minnesota. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form KS?
A: Form KS is a tax form used by shareholders in Minnesota S corporations to report their share of income, credits, and modifications.

Q: Who needs to file Form KS?
A: Shareholders of S corporations in Minnesota need to file Form KS.

Q: What information is reported on Form KS?
A: Form KS reports a shareholder's share of the S corporation's income, credits, and modifications.

Q: When is the deadline to file Form KS?
A: The deadline to file Form KS is usually the same as the deadline for filing your individual income tax return in Minnesota, which is April 15th.

Q: Are there any specific instructions for filling out Form KS?
A: Yes, the Minnesota Department of Revenue provides instructions and guidelines for filling out Form KS. It's important to review these instructions carefully.

Q: Can I file Form KS electronically?
A: Yes, Minnesota allows electronic filing of Form KS. You can file it electronically using approved software or through a tax professional.

Q: What if I am not a resident of Minnesota?
A: If you are not a resident of Minnesota but you are a shareholder in a Minnesota S corporation, you may still need to file Form KS to report your share of income, credits, and modifications.

Q: What happens if I don't file Form KS?
A: Failure to file Form KS can result in penalties and interest assessed by the Minnesota Department of Revenue.