TaxFormFinder
Massachusetts Massachusetts S Corporation Excise Return
Extracted from PDF file 2023-massachusetts-form-355s.pdf, last modified July 2023Massachusetts S 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. FOR PRIVACY ACT NOTICE, SEE INSTRUCTIONS. PRINT IN BLACK INK Calendar year filers enter 01-01-2023 and 12-31-2023 below. Fiscal year filers enter appropriate dates. Tax year beginning MM D D Y Y Y Y Tax year ending MM D D Y Y Y Y Form 355S S Corporation Excise Return 2023 NAME OF CORPORATION FEDERAL IDENTIFICATION NUMBER (FID) PRINCIPAL BUSINESS ADDRESS CITY/TOWN/POST OFFICE STATE ZIP+4 PRINCIPAL BUSINESS ADDRESS IN MASSACHUSETTS (IF DIFFERENT) CITY/TOWN/POST OFFICE STATE ZIP+4 y. d. Fill in if: 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 lower-tier entity Fill in if corporation is incorporated within Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Date of incorporation in Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Type of corporation (select one, if applicable) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Type of corporation (select one, if applicable) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Fill in if corporation is included in a 355U filing (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 FID of principal reporting corporation (if line 5 is filled in). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Fill in if line 5 is filled in and corporation’s tax year ends in a different month than the 355U. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Fill in if corporation is the parent of another corporation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Fill in if corporation is requesting alternative apportionment (enclose Form AA-1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Principal business code (from U.S. return). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Number of employees in Massachusetts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Number of employees worldwide. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Foreign corporation: first date of business in Massachusetts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Last year audited by IRS.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Fill in if adjustments have been reported to Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Fill in if corporation is deducting intangible or interest expenses paid to a related entity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mutual fund service Classified mfg MM D D Y Y Y Y 9 an d 21 Pa p -9 er re t fo rm or ur ns e w in ill fo no rm tb e R&D n. Section 38 manufacturer at io ac ce p O nl le Fi E- MM D D Y Y Y Y Taxpayer is claiming exemption from the income measure of the excise pursuant to PL 86-272 Taxable only with respect to partnership activity s Fill in if: 16 - 17 te 1 e Date Print paid preparer’s name / / Date Paid preparer’s phone / / ( ) Se Signature of appropriate officer (see instructions) Title TI R DECLARATION. Under penalties of perjury, I declare that to the best of my knowledge and belief this return and enclosures are true, correct and complete. Fill in if DOR may discuss this return with Paid preparer’s signature the paid preparer Taxpayer’s e-mail address Name of designated tax matters partner Identifying number of tax matters partner Preparer’s PTIN Paid preparer’s EIN Date / / Fill in if self-employed FEDERAL IDENTIFICATION NUMBER 2023 FORM 355S, PAGE 2 EXCISE CALCULATION 1 Taxable Massachusetts tangible property, 2 Taxable net worth, if applicable (from 3 Qualified taxable income and passive income . . . . . . . . . . . . . . . . 4 Income (from 2023 Schedule S, line 17). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 6 Income taxable in Massachusetts (from Schedule E, line 27). Not less than “0”. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 7 Credit recapture (enclose Credit Recapture Schedule). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Additional tax on installment sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Excise before credits. Add line 1 or 2, whichever applies, to total of lines 3, 6, 7 and 8. . . . . . . . . . . . . . . . . . . . . . . 9 10 Total credits (from Credit Manager Schedule; combined report filers, see instructions). . . . . . . . . . . . . . . . . . . . . . 10 11 Excise after credits. Subtract line 10 from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Combined filers only, enter the amount of tax from Schedule U-ST, line 41 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Minimum excise (cannot be prorated; combined report filers, see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Excise due before voluntary contribution. (line 11 or 13, whichever is greater) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Voluntary contribution for endangered wildlife conservation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Excise due plus voluntary contribution. Add lines 14 and 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Overpayment of tax from prior year applied to this year’s estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Massachusetts estimated tax payments (do not include amount in line 17). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Payment made with extension. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 21 Payment with original return. Use only if amending a return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 if applicable (from Schedule C, line 4). . . . . . . . . . . . . . . . . . .. . . . . × .0026 = 1 Schedule D, line 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . × .0026 = 2 × .0800 = 3 an d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Total refundable credits (from Credit Manager Schedule). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 Total payments. Add lines 17 through 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Amount overpaid. Subtract line 16 from line 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Amount overpaid to be credited to next year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Amount overpaid to be refunded. Subtract line 25 from line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Refund 26 27 Balance due. Subtract line 23 from line 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance due 27 28 a. M-2220 penalty 29 Interest on unpaid balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 30 Payment due at time of filing. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total due 30 Se e TI R s 16 - 9 22 b. Late file/pay penalties . . . . . . . . . . . . . . . . . a + b = 28 at io n. e 21 Pass-through entity withholding (from Schedule 3K-1. See instructions) Payer ID number . or -9 Pa p er re t fo rm ur ns w in ill fo no rm tb e E- Fi le ac ce p O nl te y. d. If line 4 is less than $6 million, enter “0”. If line 4 is $6 million or more, but less than $9 million, multiply line 5 by .02. If line 4 is $9 million or more, multiply line 5 by .03. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 CORPORATION NAME FEDERAL IDENTIFICATION NUMBER Schedule A Balance Sheet 2023 A. ORIGINAL COST ASSETS C. NET BOOK VALUE Capital assets in Massachusetts: b. Land. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b. c. Motor vehicles and trailers. . . . . . . . . . . . . . . . . . . 1c. d. Machinery taxed locally . . . . . . . . . . . . . . . . . . . . . 1d. e. Machinery not taxed locally.. . . . . . . . . . . . . . . . . . 1e. f. Equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1f. d. Fi le h. Leasehold improvements taxed locally. . . . . . . . . . 1h. e E- i. Leasehold improvements not taxed locally. . . . . . . 1i no k. Construction in progress.. . . . . . . . . . . . . . . . . . . . 1k. rm tb j. Other fixed depreciable assets. . . . . . . . . . . . . . . . . 1j n. ac ce p at io g. Fixtures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1g. te O nl y. a. Buildings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a. fo 1 B. ACCUMULATED DEPRECIATION AND AMORTIZATION e w Inventories in Massachusetts: ur ns 2 in ill l. Total capital assets in Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1l. fo rm or a. General merchandise. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2a re t b. Exempt goods. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b. Supplies and other non-depreciable assets in Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Total tangible assets in Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Capital assets outside Massachusetts: 21 Pa p -9 er 3 a. Buildings and other depreciable assets . . . . . . . . . 5a. an d b. Land. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5b. 9 TI R s 16 - 6 Leaseholds/leasehold improvements outside Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . 6. 7 Total capital assets outside Massachusetts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. e BE SURE TO CONTINUE SCHEDULE A ON OTHER SIDE Se FEDERAL IDENTIFICATION NUMBER 2023 SCHEDULE A, PAGE 2 8 Inventories outside Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Supplies and other non-depreciable assets outside Massachusetts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Total tangible assets outside of Massachusetts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Total tangible assets. Add lines 4 and 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Investments (capital stock investments and equity contributions only): a. Investments in subsidiaries at least 80% owned. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12a b. Other investments . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12b Notes receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Accounts receivable . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Intercompany receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Other assets . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 te y. rm tb e at io n. ac ce p O nl le Fi Mortgages on: no 19 LIABILITIES AND CAPITAL E- d. 13 in ill fo a. Massachusetts tangible property taxed locally. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19a Bonds and other funded debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Accounts payable. . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Intercompany payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 Notes payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Miscellaneous current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Miscellaneous accrued liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 Total capital stock issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 Paid-in or capital surplus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 29 Retained earnings and surplus reserves. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 30 Undistributed S corporation net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 31 Total capital. Add lines 27 through 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 32 Treasury stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 33 Total liabilities and capital. Do not enter less than “0” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 If a loss, mark an X in box at left Se e TI R s 16 - 9 an d 21 Pa p -9 er re t fo rm or ur ns 20 e w b. Other tangible assets.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19b CORPORATION NAME FEDERAL IDENTIFICATION NUMBER Schedule B Tangible or Intangible Property Corporation Classification 2023 Enter all values as net book values from Schedule A, col. c. Total Massachusetts tangible property (from Schedule A, line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Massachusetts real estate (from Schedule A, lines 1a and 1b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Massachusetts motor vehicles and trailers (from Schedule A, line 1c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Massachusetts machinery taxed locally. Classified manufacturers enter 0 (from Schedule A, line 1d). . . . . . . . . . . . . . . 4 5 Massachusetts leasehold improvements taxed locally (from Schedule A, line 1h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Massachusetts tangible property taxed locally. Add lines 2 through 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Massachusetts tangible property not taxed locally. Subtract line 6 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Total assets (from Schedule A, line 18) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Massachusetts tangible property taxed locally (from line 6 above). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Total assets not taxed locally. Subtract line 9 from line 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 11 Investments in subsidiaries at least 80% owned (from Schedule A, line 12a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 12 Assets subject to allocation. Subtract line 11 from line 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 13 Income apportionment percentage (from Schedule F, line 5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 14 Allocated assets. Multiply line 12 by line 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Tangible property percentage. Divide line 7 by line 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 n. at io in fo no ill e w fo rm or ur ns re t Schedule C Tangible Property Corporation 21 Pa p -9 er Complete only if Sched. B, line 15 is 10% or more. Enter all values as net book values from Sched. A, col. c. 1 Total Massachusetts tangible property (from Schedule A, line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Exempt Massachusetts tangible property: an d a. Massachusetts real estate (from Schedule A, lines 1a and 1b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2a 9 b. Massachusetts motor vehicles and trailers (from Schedule A, line 1c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b 16 - c. Massachusetts machinery taxed locally. Classified manufacturers enter “0” (from Schedule A, line 1d). . . . . . . . . . 2c s d. Massachusetts leasehold improvements taxed locally (from Schedule A, line 1h). . . . . . . . . . . . . . . . . . . . . . . . . . . 2d TI R e. Exempt goods (from Schedule A, line 2b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2e e f. Certified Massachusetts industrial waste/air treatment facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2f Se g. Certified Massachusetts solar or wind power deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2g 3 4 rm tb e E- Fi le ac ce p O nl te y. d. 1 Total exempt Massachusetts tangible property. Add lines 2a through 2g . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Taxable Massachusetts tangible property. Subtract line 3 from line 1. Do not enter less than “0.” Enter result in line 1 of the Excise Calculation on page 2, and enter “0” in line 2 of the Excise Calculation. . . . . . . . . . . . 4 CORPORATION NAME FEDERAL IDENTIFICATION NUMBER Schedule D Intangible Property Corporation 2023 Complete only if Sched. B, line 15 is less than 10%. Enter all values as net book values from Sched. A, col. c. Total assets (from Schedule A, line 18) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Total liabilities (from Schedule A, line 26). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Massachusetts tangible property taxed locally (from Schedule B, line 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Mortgages on Massachusetts tangible property taxed locally (from Schedule A, line 19a). . . . . . . . . . . . . . . . . . . . . . . . 4 5 Subtract line 4 from line 3. Do not enter less than “0”. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Investments in subsidiaries at least 80% owned (from Schedule A, line 12a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Deductions from total assets. Add lines 2, 5 and 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Allocable net worth. Subtract line 7 from line 1. Do not enter less than “0” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Income apportionment percentage (from Schedule F, line 5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 te y. n. ac ce p O nl le Fi 10 d. 1 at io no Schedule E-1 Dividends Deduction rm tb e E- Taxable net worth. Multiply line 8 by line 9. Enter result in line 2 of the Excise Calculation on page 2, and enter “0” in line 1 of the Excise Calculation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Total dividends. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Dividends from Massachusetts corporate trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Dividends from non-wholly-owned DISCs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Dividends, if less than 15% of voting stock owned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Dividends from RICs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Dividends from REITs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Total taxable dividends. Add lines 2 through 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Dividends eligible for deduction. Subtract line 7 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Dividends deduction. Multiply line 8 by .95 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Se e TI R s 16 - 9 an d 21 Pa p -9 er re t fo rm or ur ns 1 e w in ill fo Beginning January 1, 1999, 95% of dividends received from or on account of the ownership of any class of stock, if the business corporation owns 15% or more of the voting stock of the corporation paying the dividend, will be allowed as a deduction to net income. Enclose schedule showing payers, amounts and percent of voting stock owned by class of stock. CORPORATION NAME FEDERAL IDENTIFICATION NUMBER Schedule E Taxable Income 2023 If a loss, mark an X in box at left Gross receipts or sales (from U.S. Form 1120, line 1c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Gross profit (from U.S. Form 1120, line 3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Other deductions (from U.S. Form 1120, line 26) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Net income (from U.S. Form 1120, line 28). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Allowable U.S. wage credit. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Subtract line 5 from line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 State and municipal bond interest not included in U.S. net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Foreign, state or local income, franchise, excise or capital stock taxes deducted from U.S. net income. . . . . . . . . . 8 9 Section 168(k) “bonus” depreciation adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 le ac ce p O nl te y. d. 1 11 Section 31J and 31K interest expense add back adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Reserved for future use .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Other adjustments, including research and development expenses. See instructions. . . . . . . . . . . . . . . . . . . . . . . 13 14 Add lines 6 through 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 15 Abandoned building renovation deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Dividends deduction (from Schedule E-1, line 9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Exception(s) to the add back of intangible expenses (enclose Schedule ABIE). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Exception(s) to the add back of interest expenses (enclose Schedule ABI). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Income subject to apportionment. Subtract the total of lines 15 through 18 from line 14. . . . . . . . . . . . . . . . . . . . 19 20 Income apportionment percentage (from Schedule F, line 5 or 1.0, whichever applies). . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Multiply line 19 by line 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Income not subject to apportionment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 Total net income allocated or apportioned to Massachusetts. Add lines 21 and 22. . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Certified Massachusetts solar or wind power deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Massachusetts taxable income before net operating loss deduction. Subtract line 24 from line 23. . . . . . . . . . . . 25 26 Net operating loss deduction (enclose Schedule NOL). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 Massachusetts taxable income. Subtract line 26 from line 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 Total net operating loss available for carryover to future years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 ur ns at io e w in ill fo no rm tb e E- n. Section 31I and 31K intangible expense add back adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Fi 10 Se e TI R s 16 - 9 an d 21 Pa p -9 er re t fo rm or × .10 = 15
Form 355S
More about the Massachusetts Form 355S Corporate Income Tax TY 2023
We last updated the Massachusetts S Corporation Excise Return in January 2024, so this is the latest version of Form 355S, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 355S 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 355S.
| Form Code | Form Name |
|---|---|
| Form 355SBC | Small Business Corporation Excise Return |
| Form 355S-PV | Massachusetts Corporate Payment Voucher |
| Form 355SC | Massachusetts Security Corporation Return |
| Form 355SV | Taxation of Ships and Vessels |
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 355S from the Department of Revenue in January 2024.
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 355S
We have a total of thirteen past-year versions of Form 355S in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form 355S
355S
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