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Form Instructions 941 Minneapolis Minnesota: What You Should Know

A + B = C + D · Line 2 — Enter gross income for the entire Form 941 year or the previous four quarters. It's used to get the credit for the first 2,350 of wages, tips, or other compensation (the difference between the amount from line 1 and 2.350, minus 25.) A + B + C — D = 3. Part 1 — Enter the gross income in the blank space next to A + B + C — D. Your total for the period is D + 2,350. The credit for the first 2,350 of gross income is 50. The amount on line 4 can be applied to the last 2,350 of gross income. A + B + C — D × 100 = 500, which means this amount is used to determine what you have to pay in Minnesota for income tax withholding. You can also file the Schedule R (Form 941) with the form.

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