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Massachusetts Unrelated Business Income Tax Return
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, or request a six-month extension here .Form M-990T is obsolete, and is no longer supported by the Massachusetts Department of Revenue.
Extracted from PDF file 2024-massachusetts-form-m-990t.pdf, last modified August 2024Unrelated 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 2024 or taxable year beginning 2024 2024 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 ● 501( )( ) (Enter IRC section number) See instructions ● e m tb Federal Identification number of parent corporation ill Enter number of attached Schedules E (Form M-990T) fo r 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 n. 501(c)(3) Fi ● le Fill in if at io Amended return due to federal audit ac ce p ● Final return ● Name change ● Address change ● Amended return (see instructions) ● Amended return due to federal change ● 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 Initial return O ● ● ● nl y. Fill in if (see instructions) Zip te d. City/Town or e w Use whole dollar method. ns Unrelated Business Income. in Fill in if, at any time during the year, the corporation (a) received a digital asset (as a reward, award, or payment for property or services); or (b) sold, exchanged, or otherwise disposed of a digital asset (or a financial interest in a digital asset)? See instructions ● fo r re Excise before credits m tu r 1 Total unrelated business taxable income computed from all unrelated trades or businesses. (Total of Part III, line 22. See instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 er 2 Multiply line 1 by .08. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Pa p 21 -9 3a Credit recapture (enclose Schedule CRS. See instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3a 3b Additional tax on installment sales. (See instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3b Any credit being claimed must be determined with respect to the unrelated business activity being reported on this return. an Credits. d 4 Excise due before credits. Add lines 2, 3a, and 3b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 16 -9 5 Total credits. Enclose Schedule CMS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 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 Title / / Date e Se / Paid preparer’s signature Print paid preparer’s name Preparer’s PTIN Paid preparer’s phone Paid preparer’s ( EIN TI Signature of appropriate officer (see instructions) / Date / / ) Fill in if DOR may discuss this Fill in if self-employed return with the paid preparer ● 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. 2024 FORM M-990T, PAGE 2 Name of corporation Federal Identification number Excise after credits 6 Excise due before voluntary contributions. Subtract line 5 from line 4. Not less than “0” . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Voluntary contribution for endangered wildlife conservation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Total excise plus voluntary contribution. Add lines 6 and 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Payments 9 Prior year’s overpayment applied to current year’s estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Current Massachusetts estimated tax payments (do not include amount in line 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Payment made with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Payment with original return. Use only if amending a return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13. Pass-through entity withholding. See instructions. . . . . . . . . . . . Payer Identification number d. 13 O nl te y. 14 Total refundable credits. Enclose Schedule CMS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Refund or balance due ac ce p 15 Total payments. Add lines 9 through 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 n. Fi le 16 Amount overpaid. Subtract line 8 from line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 at io e E- 17 Amount overpaid to be credited to next year‘s estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Amount overpaid to be refunded. Subtract line 17 from line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 tb no rm 19 Balance due. Subtract line 15 from line 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 fo 20a M-2220 penalty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20a ur ns e 20 Total penalty. Add lines 20a and 20b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 or 21 Interest on unpaid balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 e TI R s 16 - 9 an d 21 Pa p -9 er re t fo rm 22 Total payment due at time of filing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Se in w ill 20b Other penalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20b Massachusetts Department of Revenue Schedule E (Form M-990T) Name of corporation Federal Identification number Unrelated business activity code (see instructions) Sequence: 2024 of Describe the unrelated trade or business 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 y. d. 4a Capital gain net income (attach Schedule D. From U.S. Form 1120). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a O nl te 4b Net gain or loss from U.S. Form 4797 (attach U.S. Form 4797). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b ac ce p 4c Unused capital loss carryover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4c le 4d Balance. Subtract line 4c from the total of lines 4a and 4b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4d n. Fi 5 Income or loss from a partnership or an S corporation (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 at io tb e E- 6 Rent income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 rm 7 Unrelated debt-financed income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 ill 9 Investment income of § 501(c)(7), (9) or (17) organizations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 w in 10 Exploited exempt activity income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 fo no 8 Interest, annuities, royalties and rents from a controlled organization.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 or ur ns e 11 Advertising income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 fo rm 12 Other income (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 re t 13 Total income. Combine lines 3 through 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Part II Deductions Not Taken Elsewhere (from U.S. Form 990T, Schedule A, Part II) -9 er 1 Compensation of officers, directors, and trustees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 21 Pa p 2 Salaries and wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Repairs and maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 an d 4 Bad debts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 16 - 9 6 Taxes and licenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 s 8 Less depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 R 9 Depletion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 TI 10 Contributions to deferred compensations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 e 11 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Se 12 Excess exempt expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Excess readership costs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Other deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Total deductions. Combine lines 1 through 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 2024 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) contd. 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 (See instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Part III Computation of Taxable Income 1 Unrelated business taxable income (Part II, line 18). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 State and municipal bond interest not included in U.S. net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Foreign, state or local income, franchise, excise or capital stock taxes deducted from U.S. net income . . . . . . . . . . . . . . . . 3 4 Section 168(k) “bonus” depreciation adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 d. 5 Section 31I and 31K intangible expense add back adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 O nl te y. 6 Section 31J and 31K interest expense add back adjustment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 no at io rm e E- n. Amount tb Item le w 8 Total line 8 other adjustments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 ur ns e 9 Add lines 1 through 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 fo ill in 8 Other adjustments, including research and development expenses. List item(s) and amount(s). Enter total of all other adjustments on line 8 (see instructions): Fi ac ce p 7 Federal NOL add back adjustment (from Schedule E, Part II, line 17). See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 or 10 Abandoned building renovation deduction (See instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 re t fo rm 11 Exception(s) to the add back of intangible expenses (enclose Schedule ABIE) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Exception(s) to the add back of interest expenses (enclose Schedule ABI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 9 -9 21 Amount an d Item Pa p er 13 Other deductions not listed above. List item(s) and amount(s). Enter total of all other deductions on line 13. (See instructions) 16 - 13 Total line 13 other deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Income subject to apportionment. Subtract the total of lines 10 through 13 from line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Se e TI R s 15 Income apportionment percentage (from Schedule F, line 5 or 1.0, whichever applies) . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 2024 SCHEDULE E (FORM M-990T), PAGE 3 Name of corporation Federal Identification number Part III Computation of Taxable Income contd. 16 Multiply line 14 by line 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 List item(s) and amount(s) of income not subject to apportionment (See instructions) Item Amount 17 Total line 17 income not subject to apportionment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 d. 18 Total unrelated business income allocated or apportioned to Massachusetts. Add lines 16 and 17 . . . . . . . . . . . . . . . . . . . 18 te y. 19 Certified Massachusetts solar or wind power deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 ac ce p O nl 20 Taxable income before net operating loss deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Loss carryover deduction (from Schedule NOL). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Se e TI R s 16 - 9 n. at io an d 21 Pa p -9 er re t fo rm or ur ns e w in ill fo no rm tb e E- Fi le 22 Taxable income. Subtract line 21 from line 20. Not less than 0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Form M-990T
More about the Massachusetts Form M-990T Corporate Income Tax Tax Return TY 2024
We last updated the Unrelated Business Income Tax Return in March 2025, so this is the latest version of Form M-990T, fully updated for tax year 2024. 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.
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File Now with TurboTaxRelated 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-62 | Exempt Trust and Unincorporated Association Income |
| Form M-990T-7004 | Unrelated Business Income Tax Extension |
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 March 2025.
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 fourteen 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:
2012 Form M-990T
return
2011 Form M-990T
return
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