S Corporation Filing Requirements

​If you have elected to be taxed as an S corporation under Section 1362 of the Internal Revenue Code (IRC), and you're doing business in Minnesota, you must file Form M8, S Corporation Return.

If you filed federal Form 2553 with the Internal Revenue Service (IRS) to elect to become an S corporation, you do not need to file a similar form with Minnesota. Minnesota automatically accepts your S corporation status once approved by the IRS.

Before doing so, complete federal Form 1120-S and supporting schedules.

The entire share of an S corporation’s income is taxed to shareholders, whether or not the income is actually distributed. Each shareholder must include their share of the income on their tax return. But, the entity pays the S corporation taxes and minimum fee. 

How do I know if my business has nexus?

If you are unsure whether your business has nexus–a taxable presence, sales or other activity in the state, see Minnesota Filing Requirements.