Foreign Income

Minnesota allows a subtraction for:

• Deferred foreign income reported on your federal return.  Visit Internal Revenue Code, section 965 for additional Information.
• Tax years beginning after December 31, 2017, and before January 1, 2023, the inclusion of Global Intangible Low-Taxed Income (GILTI) reported on your federal return.

Minnesota requires an addition for special federal deductions for Foreign-derived intangible income and Global Intangible Low-Taxed Income (GILTI).  Visit Internal Revenue Code, section 250 for additional information.

For tax years beginning after December 31, 2022, Minnesota law classifies Global Intangible Low-Taxed Income (GILTI) as dividend income. 

Dividend income is allowed a dividend-received deduction but can't be included in the sales factor for apportionment calculations.  Visit Minnesota Statute 290.191 for additional information.