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February 25, 2025
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Minnesota tax for Florida resident receiving lump sum income from serving on the board of a Minnesota company.

  • February 25, 2025
  • 1 reply
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I am a Florida resident receiving a lump sum, previously deferred, income from serving on the board of a Minnesota company. Do I have to file a Minnesota return? I attended some board meetings in person while others were via Zoom from Florida.

Best answer by MAK70

It depends on the amount. You must file a Minnesota return if your Minnesota gross income meets the minimum filing requirement ($14,575 in 2024).  

 

Minnesota would only look at the income you earned in the state.  Determining the amount allocated to the time for the board meetings can be tricky because you did have to spend time (most likely from your home in Florida) to prep for the meetings.  See Calculating Minnesota Gross Income.

 

1 reply

MAK70Answer
February 25, 2025

It depends on the amount. You must file a Minnesota return if your Minnesota gross income meets the minimum filing requirement ($14,575 in 2024).  

 

Minnesota would only look at the income you earned in the state.  Determining the amount allocated to the time for the board meetings can be tricky because you did have to spend time (most likely from your home in Florida) to prep for the meetings.  See Calculating Minnesota Gross Income.