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Massachusetts Member’s Separate Computation of Tax
Extracted from PDF file 2023-massachusetts-schedule-u-st.pdf, last modified February 2023Member’s Separate Computation of Tax
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. 2023 Schedule U-ST Member’s Separate Computation of Tax For calendar year 2023 or taxable period beginning Massachusetts Department of Revenue 2023 and ending Member’s name Federal Identification number Member’s PBA code Principal address City/Town State Tax type: Check if applicable ● Financial institution ● Business corporation ● Insurance mutual holding company Check if applicable Check if applicable ● Classified manufacturer ● R&D ● RIC ● Public REIT ● Sec. 38 mfg. ● Mutual fund service Name of principal reporting corporation Federal Identification number Zip 1 Check if member is incorporated within Massachusetts ● 2 Check if taxpayer is claiming exemption from the income measure of the excise (e.g., pursuant to P.L. 86-272 or otherwise) ● nl y. 4 Check if member is an S corporation ● te d. 3 Check if this is a final return ● 5 Check if an S corporation and unitary group’s receipts were less than $6 million ● O ac ce p 6 Check if an S corporation and unitary group’s receipts were $6 million or more, but less than $9 million ● n. at io 31 32 33 34 35 ill or e w ns m tu r fo r re 21 -9 er e TI R s 16 -9 an d Pa p 36 Other taxes due including recapture and installment sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Total taxes due before credits. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Member’s own credits taken (from Schedule U-IC, line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Credits of other corporations applied to excise (from Schedule U-IC, line 12). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Member’s total credits against excise. Combine lines 38 and 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Member’s net tax liability. Subtract line 40 from line 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 Pass-through entity withholding (from Schedule U-IC, line 13). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 Member’s refundable credits (from Credit Manager Schedule, sections 2 and 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Se m 31 Member’s tangible property percentage (business corporations only). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Member’s taxable Massachusetts tangible property, if applicable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Member’s taxable net worth, if applicable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Number of months in member’s taxable year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Non-income measure of excise (from line 32 or 33, if applicable) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . in 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 no 11 Member’s Massachusetts apportioned share of combined section 1231 gain or loss (from Schedule U-MSI, line 33). . . . 12 Other section 1231 gain or loss (from Schedule U-MTI, line 29) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Combine lines 11 and 12. If a loss, enter 0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Member’s section 1231 losses not recaptured from prior years (enter as positive amount). . . . . . . . . . . . . . . . . . . . . . . . . 15 Subtract line 14 from line 13. If a loss, enter 0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Member’s Massachusetts apportioned share of combined capital gain or loss (from Schedule U-MSI, line 31). . . . . . . . . 17 Other capital gain or loss (from Schedule U-MTI, line 28) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Member’s net Massachusetts capital gain. Combine lines 15 through 17. If a loss, enter 0 . . . . . . . . . . . . . . . . . . . . . . . . 19 Member’s section 1231 gains treated as ordinary gains. Enter the smaller of line 13 or line 14. . . . . . . . . . . . . . . . . . . . . 20 Member’s net Massachusetts section 1231 loss. Enter as a negative if the total of lines 11 and 12 is less than 0. . . . . . . 21 Member’s Massachusetts apportioned share of combined income other than gains or losses . . . . . . . . . . . . . . . . . . . . . . 22 Member’s other Massachusetts income or loss (from Schedule U-MTI, line 27). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 S corporation income subject to entity level taxation, if included above (enter as a negative). . . . . . . . . . . . . . . . . . . . . . . 24 Combine lines 18 through 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Member’s own NOL deduction from current year income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Subtract line 25 from line 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Member’s deduction of shared NOL from current year income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Member’s taxable income or loss. Subtract line 27 from line 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Applicable tax rate (enter as a decimal). See instructions for rates applicable by tax type and entity . . . . . . . . . . . . . . . . . 30 Income measure of excise. Multiply line 28 by line 29. If a loss, enter 0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . fo r tb e E- Fi le 7 Check if member has a fiscal year that is different from the group tax year ● 8 Member’s number of Massachusetts employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Member’s number of worldwide employees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Member’s total assets per tax year ending books. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 36 37 38 39 40 41 42 43
Schedule U-ST
More about the Massachusetts Schedule U-ST Corporate Income Tax Tax Credit TY 2023
We last updated the Member’s Separate Computation of Tax in January 2024, so this is the latest version of Schedule U-ST, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule U-ST directly from TaxFormFinder. 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 U-ST.
| Form Code | Form Name |
|---|---|
| Schedule U-CS | Credits Shared from Other Members |
| Schedule U-CI | Combined Income |
| Schedule U-E | Massachusetts Unitary or Affiliated Group Income |
| Schedule U-IC | Member's Individual Credits |
| Schedule U-INS | Payment to Insurance Companies Under Common Owners |
| Schedule U-M | Member's Income and Expenses |
| Schedule U-MSI | Member's Apportioned Share of Group Income |
| Schedule U-MTI | Member’s Taxable Income from Sources Other Than the Unitary Business |
| Schedule U-NOLS | Member's Shared Loss Carryover |
| Schedule U-TM | Tax by Member |
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 U-ST from the Department of Revenue in January 2024.
Schedule U-ST 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 U-ST
We have a total of thirteen past-year versions of Schedule U-ST in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Schedule U-ST
sch. U-ST
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