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06/11/20REVISORMS/AA208644as introducedSENATE STATE OF MINNESOTA SPECIAL SESSIONS. F. No. 14(SENATE AUTHORS: WEBER, Destroy, Graham and Korean) DATE DOG OFFICIAL STATUS 06/12/2020 14 Introduction
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MSAA stands for Multi-State Abate and Assess (or Multi-State Alternative Assessment), which is a tax form used to report certain financial information to the appropriate state authorities.
Businesses operating in multiple states that need to report their income, expenses, and tax obligations as per the multi-state tax agreements are typically required to file MSAA.
To fill out MSAA, gather your financial documents, accurately report your income, expenses, and allocate them according to the states where you have business activities, then follow the specific instructions provided by the state tax authorities.
The purpose of MSAA is to provide a standardized way for businesses to report income and tax obligations across multiple states, ensuring compliance with state tax laws and facilitating proper tax assessments.
Information that must be reported on MSAA includes total income, deductible expenses, apportionment factors, and any other relevant financial data needed for state tax assessments.
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