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Credit for Sales of Manufactured Home Parks to Cooperatives

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If you sold a manufactured home park in Minnesota, you may qualify for the Credit for Sales of Manufactured Home Parks to Cooperatives.

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To qualify, all of these must be true:

You are paying Minnesota income tax, corporate franchise tax, or unrelated business income tax (UBIT)
You sold a manufactured home park to a:
- Minnesota cooperative or cooperative association
- Minnesota charitable corporation
- Nonprofit or a representative acting with the intent of forming a Minnesota cooperative or cooperative association
All lot occupants own a share in the cooperative or cooperative association or hold a residential participation warrant
The manufactured home park is physically located in Minnesota
The manufactured home park is classified as Class 4c(5)(i) or 4c(5)(iii) property

Use this table to determine which form to claim the credit:

IF YOU'RE FILING AS A	CLAIM THE CREDIT ON
C corporation	Form M4, Corporation Franchise Tax Return
Fiduciary	One of these: Form M2, Income Tax Return for Estates and Trusts Schedule KF, Beneficiary's Share of Minnesota Taxable Income (if distributing the credit to beneficiaries)
Individual or sole proprietor	Schedule M1C, Other Nonrefundable Credits
Partnership	One of these: Form M3, Partnership Return Schedule KPI or KPC, Partner's Share of Income, Credits and Modifications (if distributing the credit to partners)
S corporation	One of these: Form M8, S Corporation Return Schedule KS, Shareholder's Share of Income, Credits, and Modifications (if distributing to shareholders)
Unrelated Business Income	M4NP, Income Adjustments, Deductions and Credits

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Last Updated

July 15, 2024