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Massachusetts Investment Tax Credit and Carryovers
Schedule H Corp is obsolete, and is no longer supported by the Massachusetts Department of Revenue.
Extracted from PDF file 2022-massachusetts-schedule-h-corp.pdf, last modified March 2021Investment Tax Credit and Carryovers
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. CORPORATION NAME FEDERAL IDENTIFICATION NUMBER Schedule H Investment Tax Credit and Carryovers 2021 Type of corporation. Fill in one oval: 3 Classified manufacturer Agriculture Commercial fishing Research and development (R&D). If R&D corporation, complete line 1. PART 1. CALCULATION OF CURRENT-YEAR INVESTMENT TAX CREDIT GENERATED 1 Receipts tests for R&D corporations. Enter only receipts assignable to Massachusetts. a. Total receipts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1a b. Receipts from R&D included in 1a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b te d. c. Percent of revenues derived from R&D. Divide line 1b by line 1a.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c d. Describe R&D category_________________________________________________________________________________________________ List all qualified depreciable property (owned or leased) located in Massachusetts by Schedule A category. ac ce p y. 2 n. at io O nl a. Total cost of qualified buildings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2a tb c. Total cost of qualified machinery not taxed locally. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2c no in fo d. Total cost of qualified equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2d rm e EFi le b. Total cost of qualified machinery taxed locally. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b or e ill e. Total cost of qualified fixtures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2e rm ns w f. Total cost of qualified leasehold improvements taxed locally. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2f tu r g. Total cost of qualified leasehold improvements not taxed locally . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2g re fo h. Total cost of qualified other fixed depreciable assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2h Total cost of eligible properties. Add lines 2a through 2h. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Total U.S. investment tax credit and U.S. basis reduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Amount eligible for Massachusetts Investment Tax Credit (ITC). Subtract line 4 from line 3 . . . . . . . . . . . . . . . . . . . . . . 5 6 Available current-year ITC. Multiply line 5 by .03. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Amount of credit reduction for assets placed in service during current year but no longer qualified at year end. . . . . . . 7 8 Net current year investment tax credit generated. Report this amount on Schedule CMS. . . . . . . . . . . . . . . . . . . . . . . . . 8 Se e TI R s 16 -9 an d Pa p er 21 -9 3
Schedule H Corp
More about the Massachusetts Schedule H Corp Corporate Income Tax Tax Credit
We last updated the Investment Tax Credit and Carryovers in April 2023, and the latest form we have available is for tax year 2022. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Massachusetts Department of Revenue. You can print other Massachusetts tax forms here.
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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 Schedule H Corp.
| Form Code | Form Name |
|---|---|
| Schedule HC | Health Care Information |
| Schedule H | Expenses and Fiduciary Compensation |
| Schedule HC-CS | Health Care Information Continuation Sheet |
| Schedule HM | Harbor Maintenance Credit |
| Schedule H-2 | Recapture Offset (OBSOLETE) |
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 Schedule H Corp from the Department of Revenue in April 2023.
Schedule H Corp is a Massachusetts Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
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 Schedule H Corp
We have a total of ten past-year versions of Schedule H Corp in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2012 Schedule H Corp
sch. H
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