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UBIT Filing Reminders

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Reporting errors can delay your Unrelated Business Income Tax (UBIT) refund or result in added penalties and interest. The following reminders will help you avoid common errors when completing Form M4NP, Unrelated Business Income Tax and supporting schedules:

  • Non-linked or “traditional” bingo is not an unrelated trade or business because it is specifically excluded in IRC Section 513(f) (except for 501(c)7 organizations). You must exclude income and expenses relating to the conduct of non-linked bingo from Form M4NP.
  • If you conduct 100% of your business in Minnesota, do not complete Schedule M4NPA, Apportionment Calculation.
  • If you file federal form 990-T or 1120-C and use or create a Net Operating Loss (NOL), you must submit Form M4NP NOL, Net Operating Loss Deduction. For more information, see Net Operating Loss.
  • If you file federal form 1120-H or 1120-POL, do not use a net operating loss on Form M4NP.
  • If you file on paper, include a copy of your federal return.
  • If you file through e-Servicesattach a copy of your federal return. 

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