1997 Minnesota Statutes

     295.55 Payment of tax. 

    Subdivision 1.    Scope.  The provisions of this section 
 apply to the taxes imposed under sections 295.50 to 295.58. 

    Subd. 2.    Estimated tax; hospitals; surgical centers.  
 (a) Each hospital or surgical center must make estimated 
 payments of the taxes for the calendar year in monthly 
 installments to the commissioner within 15 days after the end of 
 the month. 

    (b) Estimated tax payments are not required of hospitals or 
 surgical centers if the tax for the calendar year is less than 
 $500 or if a hospital has been allowed a grant under section 
 144.1484, subdivision 2, for the year. 

    (c) Underpayment of estimated installments bear interest at 
 the rate specified in section 270.75, from the due date of the 
 payment until paid or until the due date of the annual return at 
 the rate specified in section 270.75.  An underpayment of an 
 estimated installment is the difference between the amount paid 
 and the lesser of (1) 90 percent of one-twelfth of the tax for 
 the calendar year or (2) the tax for the actual gross revenues 
 received during the month. 

    Subd. 3.    Estimated tax; other taxpayers.  (a) Each 
 taxpayer, other than a hospital or surgical center, must make 
 estimated payments of the taxes for the calendar year in 
 quarterly installments to the commissioner by April 15, July 15, 
 October 15, and January 15 of the following calendar year. 

    (b) Estimated tax payments are not required if the tax for 
 the calendar year is less than $500. 

    (c) Underpayment of estimated installments bear interest at 
 the rate specified in section 270.75, from the due date of the 
 payment until paid or until the due date of the annual return at 
 the rate specified in section 270.75.  An underpayment of an 
 estimated installment is the difference between the amount paid 
 and the lesser of (1) 90 percent of one-quarter of the tax for 
 the calendar year or (2) the tax for the actual gross revenues 
 received during the quarter. 

    Subd. 4.    Electronic funds transfer payments.  A 
 taxpayer with an aggregate tax liability of $120,000 or more 
 during a fiscal year ending June 30, must remit all liabilities 
 by means of a funds transfer as defined in section 336.4A-104, 
 paragraph (a), in the subsequent calendar year.  The funds 
 transfer payment date, as defined in section 336.4A-401, is on 
 or before the date the tax is due.  If the date the tax is due 
 is not a funds-transfer business day, as defined in section 
 336.4A-105, paragraph (a), clause (4), the payment date is on or 
 before the first funds-transfer business day after the date the 
 tax is due. 

    Subd. 5.    Annual return.  The taxpayer must file an 
 annual return reconciling the estimated payments by March 15 of 
 the following calendar year. 

    Subd. 6.    Form of returns.  The estimated payments and 
 annual return must contain the information and be in the form 
 prescribed by the commissioner. 

    Subd. 7.    Extensions for filing returns.  If good 
 cause exists, the commissioner may extend the time for filing 
 MinnesotaCare tax returns for not more than 60 days. 

    HIST: 1992 c 549 art 9 s 10; 1993 c 345 art 13 s 19; 1994 c 
 625 art 13 s 15,16; 1995 c 234 art 9 s 10; 1995 c 264 art 18 s 5; 1997 c 
 84 art 4 s 5; 1997 c 225 art 3 s 20,23; 1997 c 251 s 28