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Massachusetts Film Credit Transfer or Sale Application
Extracted from PDF file 2023-massachusetts-form-tsa.pdf, last modified January 2023Film Credit Transfer or Sale Application
Massachusetts Department of Revenue Form TSA Film Credit Transfer or Sale Application For calendar year 2023 or taxable year beginning Name of transferor 2023 2023 and ending Social Security or Federal Identification number Street address City/Town Name of transferee Social Security or Federal Identification number Street address Designated production company representative State Zip City/Town State Zip Telephone number E-mail address City/Town State Name of project Street address Zip Certificate Number Certificate number issued by Massachusetts Department of Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Amount of Film Credit Transferred Total amount of film credit being transferred. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Amount paid by transferee for film credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Transfer or Sale Information If the transferee distributes or assigns any portion of the credit to its partners, members or owners, the transferee must complete a Film Credit Transfer or Sale Application. A separate application is necessary for every individual or business transfer. Upon approval of the application, the Department of Revenue will issue a Transfer or Sale Film Credit Certificate indicating the amount of credit transferred. Tax Return Filing The certificate number and amount of credit must be entered on the appropriate line of the Massachusetts tax return. Transferees receiving this Transfer or Sale Film Credit Certificate must also enter the appropriate Transfer or Sale certificate number and amount of credit on the appropriate line of their Massachusetts tax return. Acknowledgment from the Transferor , acknowledge that I am selling the credit in the amount of $ I, the transferor, Signature Print name Date Declaration I declare under the pains and penalties of perjury that to the best of my knowledge, the information contained herein is accurate and complete. Signature On this Title of authorized representative Date day of before me, the undersigned notary public, personally appeared , provided to me through satisfactory evidence of identification, which was name was signed above, and who swore or affirmed to me that they executed the same as their free act and deed. Signature of notary public , to be the person whose Date of expiration of commission All film credit information should be mailed to Massachusetts Department of Revenue, Audit Division, 200 Arlington Street, Room 4300, Chelsea, MA 02150, attn. Film Credit Unit. Form TSA Instructions What is the Film Payroll/Production Credit? For taxable years beginning on or after January 1, 2006, Massachusetts allows two credits for motion picture production companies who meet certain qualifications and requirements. Transfer, Sale or Assignment of the Credit? A taxpayer subject to the personal income tax under MGL ch 62 or the corporate excise under MGL ch 63 may transfer, sell or assign either the payroll or production expense credit, in part or in whole, to one or more other taxpayers that are subject to the personal income tax under MGL ch 62 or taxpayers subject to the corporate excise under MGL ch 63. Any holder of the credits, including a motion picture production company, transferee, buyer or assignee, that wants to make a sale, transfer or assignment of the credits (the “transferor”) shall obtain a certificate to transfer, sell or assign the credits before making a transfer to another taxpayer. The transferor must submit to the Commissioner a statement in the form prescribed by the Commissioner that details the amount of tax credit being sold, transferred or assigned and any other information required by the Commissioner. Potential transferors that have an outstanding tax obligation with the state in connection with any motion picture for any prior taxable year are not eligible to transfer, sell or assign the credits. Transferees that have an outstanding tax liability are subject to offsets prior to application of the credit against their current tax liability. Transferees, buyers or assignees may use and carryforward the credits to any of the five taxable years subsequent to the first taxable year the credits were allowed to the initial transferor. Transferring, selling or assigning a credit does not extend the five-year carryforward period. The required documentation that must be provided for DOR to execute the transfer of the credit between the transferor and the transferee are the following: Original Certificate issued by the Department of Revenue, and a completed Form TSA that is signed by the transferor acknowledging the sale of the credit. Note: POA must get seller signature for seller acknowledgment prior to signing Declaration section and submitting the request for sale. For entities that are Partnerships and/or S-Corporations and are transferring the credit to the members, a Form TSA must be completed for each member with their apportioned credit. Seller acknowledgment does not need to be completed; only Declaration must be signed by General Member. Certificate Number Enter the certificate number issued by the Massachusetts Department of Revenue for the credit that is being transferred. Amount of Film Credit Transferred Box 1. Enter the total amount of film credit being transferred. Box 2. Enter the amount paid by the transferee for the film credit. Transfer or Sale Information If the transferee distributes or assigns any portion of the credit to its partners, members or owners, the transferee must complete a Film Credit Transfer or Sale Application. A separate application is necessary for every individual or business transfer. Upon approval of the application, the Department of Revenue will issue a Transfer or Sale Film Credit Certificate indicating the amount of credit transferred. Tax Return Filing The certificate number and amount of credit must be entered on the appropriate line of the Massachusetts tax return. Transferees receiving this Transfer or Sale Film Credit Certificate must also enter the appropriate Transfer or Sale certificate number and amount of credit on the appropriate line of their Massachusetts tax return. Questions or concerns relating to the Film Credit Transfer or Sale Application should be directed to the Film Credit Unit at 617-8876978. Mail completed application to Massachusetts Department of Revenue, Audit Division, 200 Arlington Street, Room 4300, Chelsea, MA 02150; attn. Film Credit Unit.
Form TSA
More about the Massachusetts Form TSA Corporate Income Tax Extension TY 2023
We last updated the Film Credit Transfer or Sale Application in January 2024, so this is the latest version of Form TSA, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form TSA directly from TaxFormFinder. You can print other Massachusetts tax forms here.
Other Massachusetts Corporate 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 2 | Fiduciary Income Tax Return |
| Schedule DRE | Disclosure of Disregarded Entity |
| Schedule D-IS | Long-Term Capital Gains and Losses Excluding Collectibles |
| Form 355-7004 | Corporate Extension Worksheet |
| Form 3 | Partnership Return |
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 TSA from the Department of Revenue in January 2024.
Form TSA is a Massachusetts Corporate Income Tax form. The IRS and most states will grant an automatic 6-month extension of time to file income tax and other types of tax returns, which can be obtained by filing the proper extension request form. Obtaining an extension will prevent you from being subject to often very large failure-to-file penalties. However, in most cases this extension does not exempt you from the requirement to pay any tax owed in full by the return's original filing date.
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 TSA
We have a total of twelve past-year versions of Form TSA 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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