Minnesota PTET 2026: deadline, rate, who can elect
Minnesota (MN), tax year 2026, from the same rules the connector returns. Last verified October 24, 2026.
Informational. Not tax advice.
Elective PTET
Yes
A qualifying entity may pay income tax on behalf of its owners. The election is available for years beginning after December 31, 2020, and before January 1, 2028.
Who can elect
A partnership, an S corporation, or an LLC taxed as a partnership or an S corporation. Qualifying owners who together control more than 50 percent of the portion owned by qualifying owners must choose the election. A qualifying owner is a resident or nonresident individual or estate, or, for an S corporation, a resident or nonresident trust. A partnership, LLC, or corporation is not a qualifying owner.
The page states the 2026-and-after rules, including the grantor-trust rule.
How the election is made
The qualifying owners make the election, and it binds all qualifying owners. It cannot be revoked after the original due date. The page says the election may be made on the return by the due date or extended due date.
Only qualifying owners can make the election.
Election deadline
The entity's extended due date. For a calendar-year filer the page states September 15, 2026. A late election is not accepted.
The page states both the extended-due-date rule and that calendar-year date.
Rate
PTE taxable income multiplied by the highest Minnesota individual income tax rate. The page says that rate is currently 9.85 percent.
The page states the current rate in the election instructions.
Owner relief
A credit for the owner's allocable share of the net income tax passed through, under Minnesota Statutes section 290.06, subdivision 22. A separate credit is allowed for PTE tax paid to another state for years beginning before January 1, 2028.
The page says the entity and the owner are different taxpayers for who made the payment.
Estimates
For 2026, four equal on-time estimated payments are required. A first-quarter payment is timely if it is paid by the second-quarter due date.
The page does not list the calendar dates of those quarters.
Sunset or repeal
The tax is allowed through taxable years beginning before January 1, 2028.
The page states that end point.
Still open in the source review
- The page says the highest individual rate is currently 9.85 percent. It does not list the 2026 estimated-payment calendar dates.
Sources for this year
Bonus-depreciation conformity is on its own page.