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Massachusetts Free Printable 355-ES instr with coupon for 2024 Massachusetts Corporate Estimated Tax Payment Vouchers

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Corporate Estimated Tax Payment Vouchers
355-ES instr with coupon

Form 355-ES Instructions for Corporation Estimated Excise Payment Worksheet General Information What is the purpose of the estimated excise payment worksheet? The estimated excise payment worksheet provides a means to calculate any current excise due under MGL ch 63. Who must make estimated payments? All business corporations that reasonably estimate their corporation excise to be in excess of $1,000 for the taxable year are required to make estimated payments. Expansion of Mandatory Electronic Filing for Corporate Excise Returns. Effective for tax periods ending on or after December 31, 2021, electronic filing and payment of tax will be required of all business corporations and financial institutions subject to tax under MGL ch 63, with no income threshold. See TIR 21-9: Expansion of Certain Electronic Filing and Payment Requirements. Go to MassTaxConnect at www.mass.gov/masstaxconnect for more information. Note: All estimated excise payments made by a combined filing group should be reported under the principal reporting entity’s tax account. Are there penalties for failing to pay estimated taxes? Yes. An additional charge is imposed on the underpayment of any corporate estimated tax for the period of that underpayment. Use Form M-2220 when filing your annual return to determine any penalty due. When and where are estimated tax payments made? Estimated tax payments may be paid in full on or before the 15th day of the third month of the corporation’s taxable year or according to the following installment amount schedule: on or before the 15th day of the third, sixth, ninth and twelfth months of the taxable year. Percent of estimated excise due First full taxable year of a corporation All with less than 10 employees others 30% 40% 25% 25% 25% 25% 20% 10% Estimated tax payments must be made electronically. See TIR 21-9: Expansion of Certain Electronic Filing and Payment Requirements and MassTaxConnect at www. mass. gov/masstaxconnect for more information. What if the corporation’s estimated excise liability changes during the year? Even though you may not be required to make estimated excise payments at the beginning of the taxable year, your expected income, assets and credits may change such that you will be required to make excise payments later. Corporations that first meet the requirement for paying estimated excise sometime after the first quarterly period should make estimated payments as shown on the enclosed chart. Massachusetts Department of Revenue What if the corporation credited its prior tax year overpayment to its current tax year excise? C corporations are required to file their excise returns on or before the 15th day of the fourth month following the close of each taxable year. The filing due date for S corporation excise returns is the 15th day of the third month following the close of each taxable year. For further details and for special rules relating to combined groups see TIR 17-5. Payments made with a return, including extension payments, estimated excise payments and withholding, are considered to be paid on the last day prescribed for the filing of the return and/or the payment of the tax, without regard to any extensions. See MGL ch 62C, § 79. Therefore, any overpayment from a prior year return will be considered to be paid as of the prior year return due date. For example, if a calendar year C corporation reported an overpayment on its prior tax year corporation excise return and elected to apply it as a credit to its current tax year estimated excise, the payment will be credited as of April 15 of the current tax year, which is the prior tax year return due date and about one month after the due date of the first estimated excise installment payment for the current tax year. To avoid the imposition of underpayment penalties the first estimated excise installment should be paid on or before the first installment due date, not the return due date. No credit may be applied to any estimated excise other than current tax year. Specific Instructions Complete the enclosed Corporation Estimated Excise Worksheet. Once you have used the worksheet to determine your estimated excise due, you may pay the full amount of each installment electronically on MassTaxConnect at mass.gov/masstaxconnect or by using third-party vendor software. Use the Amended Estimated Excise Payment Schedule if you must amend your estimated excise or if you first meet the requirements to pay estimated excise in the 2nd, 3rd or 4th quarter of the taxable year. Corporation Estimated Excise Worksheet a. Total excise for prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a. $ b. Overpayment from prior year to be credited to estimated excise for current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. $ c. Estimated excise for current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c. $ If you first meet the requirements for making estimated payments in the taxable year, use the Amended Estimated Excise Payment Schedule below. 1st installment 2nd installment 3rd installment 4th installment 1. Amount of each installment. Enter 40% of item c for installment 1. For second, third and fourth installments use 25%, 25% and 10% of item c, respectively. Note: Taxpayers in their first full taxable year with less than 10 employees should use 30%, 25%, 25% and 20% respectively. $ $ $ $ 2. Enter amount of overpayment from prior year applied to an installment, if any. $ $ $ $ 3. Amount of this excise expected to be withheld during current tax year. $ $ $ $ 4. Amount due. Subtract the total of lines 2 and 3 from line 1. $ $ $ $ Amended Estimated Excise Payment Schedule 1. Enter total excise for prior year, if any . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. $ 2. Enter overpayment from prior year, if any, to be credited to estimated excise for current year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. $ 3. Enter recomputed estimated excise for current tax year, if amending. (Enter estimated excise for prior tax year, if first meeting the requirement for making estimated payments in the second, third or fourth quarter.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. $ a. If amending your estimated excise in the second, third or fourth quarter, multiply line 3 by the appropriate installment percentage amount, then subtract previous amounts paid and overpayments applied to date, if any . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a. $ Enter the item a amount in the proper column of line 1 in the Estimated Excise Worksheet (above) and adjust or complete the remaining applicable items. Current Tax Year Record of Estimated Excise Payments Estimated tax payment installment number a. Date c. Prior tax year overpayment credit applied to installment b. Amount paid Total amount paid and credited from Jan. 1 through the installment date shown (col. b + col. c) 1 2 3 4 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . If the corporation first meets the requirement to make estimated payments By the last day of the 2nd month The corporation* should pay the following percentage by the 15th day of the: Number of installments required 3rd month 6th month 9th month 12th month 4 40% 25% 25% 10% 65% 25% 10% 90% 10% After the last day of the 2nd month and before the first day of the 6th month 3 After the last day of the 5th month and before the first day of the 9th month 2 After the last day of the 8th month and before the first day of the 12th month 1 *New taxpayers in their first full taxable year with fewer than 10 employees*have lower percentages: 30–25–25–20%; 55–25–20% and 80–20%. Payments must be made electronically on MassTaxConnect at mass.gov/masstaxconnect or by using third-party vendor software. 100%
Extracted from PDF file 2023-massachusetts-form-355-es-2019.pdf, last modified February 2022

More about the Massachusetts Form 355-ES-2019 Corporate Income Tax Estimated TY 2023

We last updated the Corporate Estimated Tax Payment Vouchers in April 2023, so this is the latest version of Form 355-ES-2019, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 355-ES-2019 directly from TaxFormFinder. You can print other Massachusetts tax forms here.

Related Massachusetts Corporate Income Tax Forms:

TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Massachusetts Form 355-ES-2019.

Form Code Form Name
Form 355-ES Corporate Estimated Tax Payment Vouchers

Download all MA tax forms View all 127 Massachusetts Income Tax Forms


Form Sources:

Massachusetts usually releases forms for the current tax year between January and April. We last updated Massachusetts Form 355-ES-2019 from the Department of Revenue in April 2023.

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Form 355-ES-2019 is a Massachusetts Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Massachusetts Form 355-ES-2019

We have a total of eight past-year versions of Form 355-ES-2019 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form 355-ES-2019

355-ES instr with coupon

2021 Form 355-ES-2019

355-ES instr with coupon

2020 Form 355-ES-2019

355-ES instr with coupon

2019 Form 355-ES-2019

355-ES instr with coupon


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