Form ETP Employer Transit Pass Credit - Minnesota

What Is Form ETP?

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 the Form ETP Employer Transit Pass Credit?
A: The Form ETP Employer Transit Pass Credit is a tax credit offered by the state of Minnesota to employers who provide transit passes or commuter highway vehicle transportation to their employees.

Q: Who is eligible for the Form ETP Employer Transit Pass Credit?
A: Employers in Minnesota who provide transit passes or commuter highway vehicle transportation to their employees are eligible for the credit.

Q: How much is the Form ETP Employer Transit Pass Credit?
A: The credit amount is equal to 50% of the qualified transportation fringe benefit expenses, up to a maximum of $60 per employee per month.

Q: How do employers claim the Form ETP Employer Transit Pass Credit?
A: Employers must complete Form ETP and include it with their annual tax return.

Q: Are there any limitations or conditions for claiming the Form ETP Employer Transit Pass Credit?
A: Yes, employers must meet certain requirements, such as providing transit passes to at least 50% of their employees and not discriminating in favor of highly compensated employees.

Q: Is the Form ETP Employer Transit Pass Credit available in other states?
A: No, the Form ETP Employer Transit Pass Credit is specific to the state of Minnesota and may not be available in other states.