Get the free Form 355 Business or Manufacturing Corporation Excise Return 2002

This document is used by corporations in Massachusetts to report their excise tax obligations, including corporation identification, business address, and various financial data necessary for tax

How to fill out form 355 business or

How to fill out Form 355 Business or Manufacturing Corporation Excise Return 2002

1. Gather all financial records and relevant documents for the tax year.
2. Obtain a copy of Form 355 from the appropriate tax authority.
3. Fill out the corporation's name, address, and identification number at the top of the form.
4. Complete the income section, ensuring all revenue sources are reported accurately.
5. Deduct allowable expenses in the appropriate section to determine net income.
6. Fill out any applicable schedules for specific types of income or deductions.
7. Calculate the excise tax based on the provided tax rates.
8. Review all information for accuracy and completeness.
9. Sign and date the form at the bottom.
10. Submit the completed Form 355 to the appropriate tax authority by the specified deadline.

Who needs Form 355 Business or Manufacturing Corporation Excise Return 2002?

1. Business or manufacturing corporations operating in the relevant jurisdiction that are subject to excise tax.

People Also Ask about

Who is exempt from excise tax?

ing to the IRS, government entities, including state and local governments, are exempt from this tax. To claim this exemption, the entity must provide the service provider with a certificate of exemption, certifying their eligibility.

How much does a small business have to make to file taxes?

You must file a return if you earn $400 or more in net earnings from your business. Net earnings equal taxable business income minus allowable business deductions. Was this topic helpful?

Who usually pays excise taxes?

Excise and sales taxes are two different types of taxes. An excise tax is imposed on specific goods and is generally the responsibility of the merchant to pay to the government. The merchant, in turn, may or may not pass the tax on to the consumer by adding it to the price.

How do I know if my business needs to pay excise tax?

Excise tax is imposed only on specific goods and services like airline tickets, fuel, tires, indoor tanning services, and gambling. Sales tax is imposed on nearly every sale to a consumer, with a few specific exceptions, such as groceries. Calculation.

Does my business need to file excise tax?

Businesses that are subject to excise tax generally must file a Form 720, Quarterly Federal Excise Tax Return to report the tax to the IRS. Many excise taxes go into trust funds for projects related to the taxed product or service, such as highway and airport improvements. Excise taxes are independent of income taxes.

What is corporate excise form 355?

Business corporations with taxable years ending in the same month as the taxable year for which the combined report is being filed will pay the non-income measure of excise tax as part of the combined report.

For pdfFiller’s FAQs

What is Form 355 Business or Manufacturing Corporation Excise Return 2002?

Form 355 is a tax return that businesses and manufacturing corporations in Massachusetts must file to report their excise tax obligations for the tax year 2002.

Who is required to file Form 355 Business or Manufacturing Corporation Excise Return 2002?

All corporations engaged in business or manufacturing activities in Massachusetts with gross receipts or taxable tangible property exceeding certain thresholds are required to file Form 355.

How to fill out Form 355 Business or Manufacturing Corporation Excise Return 2002?

To fill out Form 355, corporations must provide their identifying information, calculate their excise based on gross receipts or net income, and report any deductions and credits, following the instructions provided with the form.

What is the purpose of Form 355 Business or Manufacturing Corporation Excise Return 2002?

The purpose of Form 355 is to assess and collect excise taxes from business and manufacturing corporations operating within Massachusetts to support state revenue.

What information must be reported on Form 355 Business or Manufacturing Corporation Excise Return 2002?

Form 355 requires information regarding corporate identity, total revenue, net income, allowable deductions, tax credits, and other relevant financial data that determine the excise tax liability.