TaxFormFinder
Massachusetts Unrelated Business Income Tax Return
Extracted from PDF file 2023-massachusetts-form-m-990t.pdf, last modified September 2023Unrelated Business Income Tax 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 M-990T Unrelated Business Income Tax Return For calendar year 2023 or taxable year beginning 2023 2023 and ending Most corporate excise taxpayers, including tax-exempt corporations and trusts, are subject to the electronic filing requirements. See Technical Information Release 16-9. Name of corporation Federal Identification number Mailing address State Taxpayer’s books are in care of Telephone number Number of employees in Massachusetts, required. See instructions Number of employees worldwide, required. See instructions y. Fill in if (see instructions) Zip d. City/Town n. ● e tb Use whole dollar method. w in ill 1 Unrelated business taxable income (from Schedule E, Part II, line 18). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . 1 fo Unrelated Business Income. rm Federal Identification number of parent corporation no Name of parent corporation E- Fill in if the corporation was a subsidiary in an affiliated group or a parent-subsidiary controlled group during the taxable year at io ac ce p O nl ) (Enter IRC section number) See instructions Fi )( le Fill in if ● 501(c)(3) ● 501( te ● Initial return ● Final return ● Name change ● Address change ● Amended return (see instructions) ● Amended return due to federal change ● Amended return due to federal audit ● Amended return due to IRS BBA Partnership Audit ● Enclosing Schedule DRE ● Enclosing Schedule FCI ● Enclosing Schedule TDS ● S election termination or revocation ● Member of a lower-tier entity e 2 Foreign, state or local income, franchise, excise or capital stock taxes deducted from U.S. net income . . . . . . . . . . . . . . . 2 4 Section 31I and 31K intangible expense add back adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Section 31J and 31K interest expense add back adjustment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Federal NOL add back adjustment (from Schedule E, Part II, line 17). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . 6 er re t fo rm or ur ns 3 Section 168(k) “bonus” depreciation adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Pa p -9 7 State and municipal bond interest not included in U.S. net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 21 8 Other adjustments (from Schedule E, Part III, line 3). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 an d 9 Other deductions (from Schedule E, Part IV, line 3). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 11 Income apportionment percentage (from Schedule F, line 5 or 1.0, whichever applies). . . . . . . . . . . . . . . . . . . . . . . . . . . 11 9 10 Income subject to apportionment. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 16 - 12 Multiply line 10 by line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Declaration R s Under penalties of perjury, I declare that to the best of my knowledge and belief this return and enclosures are true, correct and complete. Date Print paid preparer’s name Title / / Date Paid preparer’s phone Paid preparer’s EIN e TI Signature of appropriate officer (see instructions) ( Date Fill in if DOR may discuss this / return with the paid preparer ● / Se / Paid preparer’s signature / ) Preparer’s PTIN Fill in if self-employed Taxpayer’s e-mail address The Privacy Act Notice is available upon request. Mail to Massachusetts Department of Revenue, PO Box 7067, Boston, MA 02204. 2023 FORM M-990T, PAGE 2 Name of corporation Federal Identification number Unrelated Business Income (cont’d.) 13 Income not subject to apportionment (from Schedule E, Part V, line 1). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Add lines 12 and 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Certified Massachusetts solar or wind power deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Taxable income before net operating loss deduction. Subtract line 15 from line 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Loss carryover deduction (from Schedule NOL). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Taxable income. Subtract line 17 from line 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Excise before credits 20 Credit recapture (enclose Schedule CRS) and/or additional tax on installment sales. See instructions. . . . . . . . . . . . . . . 20 d. 19 Multiply line 18 by .08. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 ac ce p O nl Credits. te y. 21 Excise due before credits. Add lines 19 and 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Any credit being claimed must be determined with respect to the unrelated business activity being reported on this return. at io n. e E- Excise after credits Fi le 22 Total credits. Enclose Schedule CMS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 Excise due before voluntary contributions. Subtract line 22 from line 21. Not less than “0”. . . . . . . . . . . . . . . . . . . . . . . . . 23 tb no rm 24 Voluntary contribution for endangered wildlife conservation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 fo e w Payments in ill 25 Total excise plus voluntary contribution. Add lines 23 and 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 27 Current Massachusetts estimated tax payments (do not include amount in line 26) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 Payment made with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 29 Payment with original return. Use only if amending a return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 er re t fo rm or ur ns 26 Prior year’s overpayment applied to current year’s estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 -9 Pa p 30. Pass-through entity withholding. See instructions. . . . . . . . . . . . Payer Identification number 30 21 31 Total refundable credits. Enclose Schedule CMS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 an d 32 Total payments. Add lines 26 through 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Refund or balance due 16 - 9 33 Amount overpaid. Subtract line 25 from line 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 35 Amount overpaid to be refunded. Subtract line 34 from line 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 s 34 Amount overpaid to be credited to next year‘s estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 37a M-2220 penalty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37a 37b Other penalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37b Se e TI R 36 Balance due. Subtract line 32 from line 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 37 Total penalty. Add lines 37a and 37b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 38 Interest on unpaid balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 39 Total payment due at time of filing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Massachusetts Department of Revenue Schedule E (Form M-990T) Name of corporation 2023 Federal Identification number Part I Unrelated Trade or Business Income (from U.S. Form 990T, Schedule A, Part I) 1a Gross receipts or sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a 1b Less returns and allowances. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b 1c Balance. Subtract line 1b from line 1a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c 2 Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Gross profit. Subtract line 2 from line 1c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4a Capital gain net income (attach Schedule D. From U.S. Form 1120). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a 4b Net gain or loss from U.S. Form 4797 (attach U.S. Form 4797). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b d. 4c Unused capital loss carryover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4c O nl te y. 4d Balance. Subtract line 4c from the total of lines 4a and 4b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4d ac ce p 5 Income or loss from a partnership or an S corporation (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 le 6 Rent income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 n. Fi 7 Unrelated debt-financed income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 at io e E- 8 Interest, annuities, royalties and rents from a controlled organization.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 tb 9 Investment income of § 501(c)(7), (9) or (17) organizations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 ill w in 12 Other income (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 or ur ns Part II Deductions Not Taken Elsewhere (from U.S. Form 990T, Schedule A, Part II) e 13 Total income. Combine lines 3 through 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 fo rm 1 Compensation of officers, directors, and trustees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 re t 2 Salaries and wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 er 3 Repairs and maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 -9 4 Bad debts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Pa p 21 5 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 an d 6 Taxes and licenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 9 8 Less depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 16 - 9 Depletion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Contributions to deferred compensations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 R s 11 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 TI 12 Excess exempt expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 e 13 Excess readership costs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Other deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Se rm 11 Advertising income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 fo no 10 Exploited exempt activity income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 15 Total deductions. Combine lines 1 through 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 2023 SCHEDULE E (FORM M-990T), PAGE 2 Name of corporation Federal Identification number Part II Deductions not Taken Elsewhere (from Form 990T, Schedule A, Part II) 16 Unrelated business taxable income before adjustments (see instructions). Subtract Part II, line 15 from Part I, line 13 . . . 16 17 Deduction for net operating loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Unrelated business taxable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Part III Other Adjustments 1 Research and development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Adjustments other than in line 1. List item(s) and amount(s). Enter total of all other adjustments on line 2 (see instructions): Amount y. te O nl d. Item ac ce p le 2 Total line 2 adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 n. e E- at io Fi 3 Total Part III adjustments. Combine total of lines 1 and 2. Enter this amount on Form M-990T, line 8. . . . . . . . . . . . . . . . . . 3 Part IV Other Deductions (Form M-990T, Line 9) tb 1 Abandonded building and renovation deduction (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Deductions other than in line 1. List item(s) and amount(s). Enter total of all other deductions on line 2 (see instructions): Amount rm Item no fo ill in e ur ns or w fo rm re t 2 Total line 2 deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Total Part IV deductions. Combine total of lines 1 and 2. Enter this amount on Form M-990T, line 9. . . . . . . . . . . . . . . . . . . 3 16 - -9 21 an d 9 1 List item(s) and amount(s) of income not subject to apportionment (see instructions): Item Amount Pa p er Part V Adjustments (income not subject to apportionment from M-990T, Line 13) Se e TI R s 1 Total Part V adjustments. Enter the amount on Form M-990T, line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Form M-990T
More about the Massachusetts Form M-990T Corporate Income Tax Tax Return TY 2023
We last updated the Unrelated Business Income Tax Return in January 2024, so this is the latest version of Form M-990T, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form M-990T 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 M-990T.
| Form Code | Form Name |
|---|---|
| Form M-990T-7004 | Unrelated Business Income Tax Extension |
| Form M-990T-62 | Exempt Trust and Unincorporated Association Income |
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 M-990T from the Department of Revenue in January 2024.
Form M-990T is a Massachusetts Corporate Income Tax 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.
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 M-990T
We have a total of thirteen past-year versions of Form M-990T in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form M-990T
return
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