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Massachusetts Refundable Film Credit Motion Picture Production Company
Extracted from PDF file 2020-massachusetts-schedule-rfc.pdf, last modified September 2020Refundable Film Credit Motion Picture Production Company
Massachusetts Department of Revenue Schedule RFC Refundable Film Credit Motion Picture Production Company For calendar year 2020 or taxable period beginning Name of taxpayer 2020 and ending Federal Identification number Social Security number City/Town State Phone number Designated production company representative E-mail address Massachusetts start date Massachusetts end date Fill in if any amount of this credit(s) originates from a pass-through entity If Yes, name and identification number of the pass-through entity Mailing address Zip Phone number ● Credit calculation. If a corporation, omit lines 2 through 4. 1 Amount of film credit (from Application for Payroll/Production Credit). Certificate number 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Note: If you are the beneficiary of a trust, enter amount from Schedule 2K-1, line 35, col. d. 31 2 Tax after credits (from Form 1, line 32; Form 1-NR/PY, line 36; Form 2, line 47; or Form M-990T-62, line 33). If line 2 is greater than or equal to line 1, you do not have a refundable film credit. Enter the line 1 amount on the Credit Manager Schedule. Skip the remainder of this schedule. If line 1 is greater than line 2, go to line 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Subtract line 2 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Refundable film credit. Multiply line 3 by .9 (90%). Enter here and on Part 2 of the Credit Manager Schedule. You must enclose Schedule RFC with your return. Failure to do so will result in this credit being disallowed on your tax return and an adjustment of your reported tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Motion picture production companies qualify to elect a refundable film credit if they have not transferred or carried forward a portion of the film credit for the production or certificate number to be refunded. Transferees of the film credit do not qualify for the refundable film credit. Transferees should claim their film credit on the Credit Manager Schedule. If an election to refund the film credit for a production or certificate number is made, the entire film credit remaining after reducing tax liability and other credits will be refunded at 90%. Partial refunds, transfers or carryovers are not allowed. However, the refund can be applied as an estimated payment for the subsequent tax year. 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 Date
Schedule RFC
More about the Massachusetts Schedule RFC Individual Income Tax
We last updated the Refundable Film Credit Motion Picture Production Company in February 2024, and the latest form we have available is for tax year 2020. 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 RFC 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 RFC
We have a total of ten past-year versions of Schedule RFC 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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