Minnesota Statutes Various State Taxes and Programs (Ch. 289A-295) § 290.033. Net investment income tax

(a) For purposes of this section, “net investment income” has the meaning given insection 1411(c) of the Internal Revenue Code, excluding the net gain attributable to the disposition of property classified as class 2a undersection 273.13, subdivision 23.

(b) In addition to the tax computed undersection 290.06, subdivision 2c, a tax is imposed on the net investment income of individuals, estates, and trusts in excess of $1,000,000 at a rate of one percent.

(c) For an individual who is not a Minnesota resident for the entire taxable year, the tax under this subdivision must be calculated as if the individual is a Minnesota resident for the entire year, and that amount must be multiplied by a fraction in which:

(d) For an estate or trust, the tax on net investment income must be computed by multiplying the net investment income tax liability by a fraction, the numerator of which is the amount of the estate or trust's net investment income allocated to the state pursuant to the provisions ofsections 290.17,290.191, and290.20, and the denominator of which is the taxpayer's total net investment income.