Minnesota recently released additional updates to the Income Tax Fact Sheet 19, Municipal Bond Payment Reporting Information. This fact sheet explains the law and responsibilities for payers and transmitters required to report interest dividend and interest payment information to Minnesota using a modified version of federal Form 1099-B. These are further revisions to the sheet released earlier in the year. There are updates to the filing specifications that change field positions for electronic reporting and filers will need to adjust accordingly.
To view the Fact Sheet, click here.
