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Massachusetts Harbor Maintenance Credit
Extracted from PDF file 2022-massachusetts-schedule-hm.pdf, last modified December 2022Harbor Maintenance Credit
Massachusetts Department of Revenue Schedule HM Harbor Maintenance Tax Credit 2022 Note: Eligibility for obtaining the Harbor Maintenance Tax Credit has been repealed for tax years beginning on or after January 1, 2022. For calendar year 2022 or taxable year beginning Name Fill in applicable oval: ● Shipper and ending Federal Identification number ● Exporter ● Importer Current year harbor maintenance tax credit. Documentation must be provided upon request. Massachusetts port Date paid a. Tax paid on port b. Tax paid on port use for domestic move- use for exports of ments of break-bulk break-bulk and and containerized cargo containerized cargo 1 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Computation of credit 2 Total qualifying harbor maintenance taxes for this year. Add line 1, col’s. a through c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Enter unused credit from prior year. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Massachusetts Harbor Maintenance Tax Credit available this year. Add lines 2 and 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Total corporate excise for purposes of determining allowable Harbor Maintenance Tax Credit. Form 355, Computation of Excise, line 6; Form 355S, Computation of Excise, line 9; or Form 355U, Schedule U-ST, line 37. . . . . . . . 5 6 Amount of Vanpool Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Amount of ITC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Amount of EOAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Amount of Research Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Amount of Low-Income Housing Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Amount of Economic Development Incentive Program Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Amount of Brownfields Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Amount of Historic Rehabilitation Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Amount of Film Incentive Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Amount of Medical Device Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Amount of Life Science Credit(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Amount of Employer Wellness Program Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Amount of Certified Housing Development Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Amount of Low-Income Housing Donation Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Amount of Veteran’s Hire Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Amount of Community Investment Tax Credit (non-refundable). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Amount of Apprentice Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 Amount of Vacant Store Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Add lines 6 through 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 c. Tax paid on port use for imports of break-bulk and containerized cargo 2022 SCHEDULE HM, PAGE 2 Name of corporation Computation of credit Federal Identification number (cont’d.) 25 Subtract line 24 from line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Minimum corporate excise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 Maximum allowable current year Harbor Maintenance Tax Credit. Subtract line 26 from line 25. If 0 or less, you do not qualify for a current year Harbor Maintenance Tax Credit, enter 0 in line 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 Enter the smaller of line 4 or line 27 here and on Schedule CMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 New-Harbor Maintenance Tax Credit Repealed Note: Eligibility for obtaining the Harbor Maintenance Tax Credit has been repealed for tax years beginning on or after January 1, 2022. As a result, taxpayers can no longer generate the credit going forward, but may continue to claim unused available carryover credits from prior years to the extent they are allowed to use them. Claiming Unused Available Carryover Credits Taxpayers may continue to report all unused available carryover credits from prior years to the extent they are allowed to use them by completing the relevant portions of Schedule HM and entering the total amount of unused available carryover credits on line 28 and claiming such amount on Schedule CMS. Line item information As mentioned above, the Harbor Maintenance Tax Credit has been repealed for tax years beginning on or after January 1, 2022. As a result, taxpayers must enter zero (0) on lines 1 and 2 since taxpayers can no longer generate credits. Enter on line 3 the amount of any unused harbor maintenance credit from the prior year as reported on the taxpayer’s prior year Schedule CMS. General Information The Harbor Maintenance Tax Credit is not subject to the 50% limitations of MGL ch 63, § 32C, however, it may not reduce the corporate excise to less than the minimum excise of $456. A taxpayer may carryover any excess credit to any of the next succeeding five taxable years. Documentation must be provided by the taxpayer, upon request by the Department, that the taxpayer claiming the Credit has paid the Harbor Maintenance Tax. Such documentation may include, but is not limited to, U.S. Customs Form 349 and/or Customs Form 7501.
Schedule HM
More about the Massachusetts Schedule HM Individual Income Tax
We last updated the Harbor Maintenance Credit in February 2024, 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.
Other Massachusetts Individual Income Tax 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 1 | Resident Income Tax Return |
| Form 1-NR/PY | Nonresident or Part-Year Resident Income Tax Return |
| Form 1-ES Instructions | Estimated Income Tax Forms & Instructions |
| Form M-4868 | Application for Automatic Six-Month Extension of Time to File Massachusetts Income Tax Return |
| Form 1 Instructions | Individual Income Tax Instructions |
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 HM from the Department of Revenue in February 2024.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Massachusetts Schedule HM
We have a total of twelve past-year versions of Schedule HM in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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