State Housing Tax Credit

Eligible individuals or businesses that contribute to the State Housing Tax Credit Program and Contribution Fund may receive an 85% tax credit for their contributions.

This program is administered by the Minnesota Housing Finance Agency. For more information on eligibility and how to contribute, visit their website:

• Support Housing and Qualify for a Tax Credit
• State Housing Tax Credit Program and Contribution Fund

If you have questions about this program, email Minnesota Housing at StateHTC.MHFA@state.mn.us .

To qualify for the credit, you must:

• Apply with Minnesota Housing and get accepted
• Contribute between $1,000 and $2,000,000 during the taxable year
• Receive a tax credit certificate from Minnesota Housing

Your credit is equal to 85% of your contribution during the taxable year. You may not claim more credit than your tax liability.

If you have been certified for a credit and it is more than your tax liability for the year, you may claim the unused credit in future tax years. The unused credit may only be carried forward for 10 years.

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

• Form M2, Income Tax Return for Estates and Trusts
• Schedule KF, Beneficiary’s Share of Minnesota Taxable Income (if distributing the credit to beneficiaries)

• Form M11, Insurance Premium Tax Return for Property and Casualty Companies
• Form M11L, Insurance Premium Tax Return for Life and Health Companies
• Form M11T, Insurance Premium Tax Return for Township Mutual Companies

• Form M3, Partnership Return
• Schedule KPI or KPC, Partner’s Share of Income, Credits and Modifications (if distributing the credit to partners)

• Form M8, S Corporation Return
• Schedule KS, Shareholder’s Share of Income, Credits, and Modifications (if distributing to shareholders)