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Massachusetts Small Business Corporation Excise Return
Extracted from PDF file 2023-massachusetts-form-355sbc.pdf, last modified July 2023Small Business Corporation Excise Return
CAUTION: This tax return must be filed electronically. Paper versions of this return will not be accepted. If you have questions about filing electronically, contact us at 617-887-6367. See https://www.mass.gov/info-details/dor-e-filing-and-paymentrequirements for further information about our electronic filing and payment requirements. Massachusetts Department of Revenue Form 355SBC Small Business Corporation Excise Return 2023 (domestic corporations only) For calendar year 2023 or taxable year beginning Name of corporation 2023 and ending Federal business code Federal Identification number (FID) Principal business address City/Town 1 Kind of business 2 Date of charter in Massachusetts State Zip 3 Average number of employees in Massachusetts 4 Fill in if 5 U.S. tax return filed ● Amended return ● Final return ● Amended return due to IRS BBA Partnership Audit ● 1120 ● Other Computation Use whole dollar method te y. d. 1 Taxable Massachusetts tangible property, if applicable (from line 19e) . . . . . . . . . . $__________________ × .0026 = 1 2 Taxable net worth, if applicable (from line 25c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . $__________________ × .0026 = 2 at io n. 456 rm fo or ur ns Refund/Tax Due e w in ill no tb e E- Fi le ac ce p O nl 3 Massachusetts taxable income (from line 35). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $__________________ × .0800 = 3 4 Total excise. Add line 3 to either line 1 or line 2, whichever applies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Minimum excise (cannot be prorated). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Excise due before voluntary contribution (line 4 or line 5, whichever is larger). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Voluntary contribution for endangered wildlife conservation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 8 Excise due plus voluntary contribution. Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 9 Prepayments: a. Overpayment of tax from prior year applied to this year’s estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9a b. Massachusetts estimated tax payments (do not include amount in line 9a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9b c. Payments made with extension. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9c d. Payment with original return (use only if amending a return). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9d 9e. Total. Add lines 9a through 9d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9e an d 21 Pa p Sign Here -9 er re t fo rm 10 If line 9e is larger than line 8, enter amount overpaid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Enter amount of line 10 to be credited to next year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 12 Enter amount overpaid to be refunded. Subtract line 11 from line 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 13 If line 8 is larger than line 9e, enter balance due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 M-2220 penalty $__________________ ; Late file/pay penalties $__________________; . . . . . . . . . . . . .Total penalty 14 15 Interest on unpaid balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 16 Total payment due at time of filing. Add lines 13 through 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total due .16 Individual or firm signature of preparer Date Title 16 - Date PTIN Address R s Signature of appropriate officer 9 Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer (other than taxpayer) is based on all information of which the preparer has knowledge. Se e TI Fill in if DOR may discuss this return with the paid preparer ●. The Privacy Act Notice is available upon request. 2023 FORM 355SBC, PAGE 2 Balance sheet as of the last day of the taxable year ending Assets 17 Intangible property: a. Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17a b. Notes and accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17b c. Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17c d. Other intangible assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17d e. Total intangible property. Add lines 17a through 17d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17e 18 Tangible property taxed locally: a. Real estate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18a b. Motor vehicles and trailers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18b c. Machinery. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18c d. Leasehold improvements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18d e. Total tangible property taxed locally. Add lines 18a through 18d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18e n. at io e E- tb 21 Liabilities: a. Mortgages on Massachusetts tangible property taxed locally. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21a b. Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21b c. Notes and bonds payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21c d. Loans from stockholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21d e. Other liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21e f. Total liabilities. Add lines 21a through 21e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21f 22 Capital stock and surplus. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22 23 Total liabilities and capital. Add lines 21f and 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 fo rm 21 Pa p -9 er 24 Tangible or intangible property corporation classification: a. Subtract line 18e from line 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24a b. Divide line 19e by line 24a (enter decimal amount). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24b If line 24b is .10 or greater, enter line 19e in the computation in line 1 and omit line 25. If line 24b is less than .10, complete line 25. 9 an d 25 Taxable net worth: a. Subtract line 21f from line 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25a b. Subtract line 21a from line 18e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25b c. Subtract line 25b from line 25a. Enter here and in the computation on line 2 on the front of this form . . . . . . . . . . . .25c 16 - Net Income e TI R s 26 Gross receipts or sales (from U.S. Form 1120, line 1c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26 27 Gross profit (from U.S. Form 1120, line 3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27 28 Other deductions (from U.S. Form 1120, line 26) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28 29 Net income (from U.S. Form 1120, line 28). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 30 Allowable U.S. wage credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30 31 Net income after credit. Subtract line 30 from line 29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31 32 State and municipal bond interest not included in U.S. net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32 33 Massachusetts corporation excise deducted from U.S. net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33 34 Other adjustments (explain)________________________________________________________________________ .34 35 Massachusetts income. Add lines 31 through 34. Enter here and in the computation in line 3 on the front of this form. If a loss, you are not eligible to file this return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35 Se fo in or ur ns re t Net Worth e w ill no rm Liabilities Fi le ac ce p O nl te y. d. 19 Tangible property not taxed locally: a. Machinery and equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19a b. Leaseholds and improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19b c. Inventories and supplies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19c d. Other fixed assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19d e. Total tangible property not taxed locally. Add lines 19a through 19d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19e 20 Total assets. Add lines 17e, 18e and 19e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20
Form 355SBC
More about the Massachusetts Form 355SBC Other Tax Return TY 2023
Small Business Corporation Excise Return (for domestic corporations only).
We last updated the Small Business Corporation Excise Return in January 2024, so this is the latest version of Form 355SBC, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 355SBC directly from TaxFormFinder. You can print other Massachusetts tax forms here.
Other Massachusetts Other Forms:
TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form M-4 | Massachusetts Employee's Withholding Exemption Certificate |
| Form 355SBC | Small Business Corporation Excise Return |
| Form M-3 | Reconciliation of Massachusetts Income Taxes Withheld for Employers |
| Form NHR | New Hire and Independent Contractor Reporting Form |
| Form M-941 | Employer’s Return of Income Taxes Withheld |
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 355SBC from the Department of Revenue in January 2024.
Form 355SBC is a Massachusetts Other form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
Historical Past-Year Versions of Massachusetts Form 355SBC
We have a total of thirteen past-year versions of Form 355SBC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form 355SBC
SBC
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