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Last Updated: 6/11/2018

Historic Structure Rehabilitation Credit

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If you made qualified improvements to a historic property in Minnesota, you may qualify for the Minnesota Historic Structure Rehabilitation Credit. This refundable credit is transferable to another individual.

Do I qualify for this credit?

To qualify, all of the following must be true:

  • You made qualified improvements to a historic property in Minnesota.
  • The improvements you made qualify for the federal Historic Rehabilitation Credit.
  • You applied for certification to the Minnesota Historical Society‚Äôs State Historic Preservation Office (SHPO) before starting the project. For more information about the application process, visit the SHPO website.
  • The SHPO issued a credit certificate upon the project's completion.

The credit is available for projects that SHPO certifies before July 1, 2021. You will claim this credit in the year the renovated building is placed in service.

How much is this credit?

Your credit amount equals your federal credit amount. You may take the credit against your individual income, corporate franchise, or insurance tax.
 

How do I claim this credit?

Complete Schedule M1B, Business and Investment Credits. Include a copy of the schedule and the SHPO credit certificate when you file Form M1, Individual Income Tax.

If you received this credit through a partnership, S corporation, estate, or trust, you will receive your share of the credit on Schedule KPI, KS, or KF. Include a copy of that schedule and Schedule M1B when you file Form M1.

For more information about the federal rehabilitation credit: