Figure the credit
1 Original cost to employer of passes sold or given to employees . . . . . . . . . . . . . . . . . . . . . . . 1
2 Total amount you charged employees for passes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Multiply line 3 by 30% ( .30) . This is the amount of your credit . . . . . . . . . . . . . . . . . . . . . . . . . 4
If you’re a:
Include credit on:
C corporation
Form M4T, line 21
S corporation
Form M8, line 6*
Partnership
Form M3, line 5*
Sole proprietor
Form M1, line 22 total
Fiduciary
Form M2, line 14 total
Nonprofit organization
Call 651-297-5199 for instructions .
*Remaining credit may be passed through to partners and shareholders .
Employer Transit Pass Credit 2008
ETP
Name of employer
Minnesota tax ID
FEIN
—
If you purchase transit passes to resell or
give to your employees, you may be eligible
for this credit.
To qualify:
1. The transit pass must be a pass, to-
ken, farecard, voucher or similar item
entitling a person to transportation at
regular or reduced prices.
Stock No . 1010200
For C corporations, S corporations, partnerships, sole proprietors, fiduciaries and nonprofit organizations .
Instructions
2. The transportation must be provided by
either a:
• public or privately-owned mass tran-
sit facility; or
• a person in the business of transport-
ing people for compensation or hire.
The vehicle must have seating capac-
ity for at least six adults, not includ-
ing the driver.
3. The passes must be used in Minnesota.
The credit is equal to 30 percent of the dif-
ference between the price you pay for the
passes and the price you charge employees.
It is not refundable and can only be applied
to your current tax liability.
Enclose this sche