Get the free Form 355C Combined Corporation Excise Return

This form is used for filing a combined corporation excise return in Massachusetts, providing details on taxable property, liabilities, and business activities.

How to fill out form 355c combined corporation

How to fill out Form 355C Combined Corporation Excise Return

1. Gather all necessary financial documents and information related to your corporation.
2. Download Form 355C from the appropriate state tax authority website or obtain a physical copy.
3. Fill out the corporation's name, address, and identification number at the top of the form.
4. Report the total gross receipts on the appropriate line.
5. Enter deductions and credits that apply to your corporation.
6. Calculate the total taxable income following the instructions provided on the form.
7. Fill in the applicable tax rate and compute the tax due.
8. Complete any additional schedules as required, depending on your corporation's activities.
9. Review all entered information for accuracy and ensure no fields are left blank.
10. Sign and date the form where indicated.
11. Submit the completed Form 355C by the due date, either electronically or by mail.

Who needs Form 355C Combined Corporation Excise Return?

1. Any corporation doing business in the state that meets the threshold requirements for taxation.
2. Corporations that are part of a combined reporting group that includes other related businesses.
3. Corporations that have a physical presence or economic nexus in the state.

People Also Ask about

Am I required to file a Massachusetts tax return?

Everyone whose Massachusetts gross income is $8,000 or more must file a Massachusetts personal income tax return on or by April 15th following the end of every tax year. If the due date falls on a Saturday, Sunday, or legal holiday, the due date is the next business day.

Who must file a Massachusetts corporate tax return?

Corporation - A corporation that is subject to the tax jurisdiction of Massachusetts is generally required to file returns with DOR.

Do I need to file an excise tax return?

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.

Do I need to file a Massachusetts corporate tax return?

Each entity registered with the Massachusetts Secretary of the Commonwealth (the “Secretary”) may be required to register for corporate excise and file an annual corporate return with the Massachusetts Department of Revenue (the “DOR”).

Does a corporation always have to file a tax return?

A domestic corporation must file Form 1120, U.S. Corporation Income Tax Return, whether it has taxable income or not, unless it's exempt from filing under section 501. A domestic corporation that is an S corporation must file Form 1120-S, U.S. Income Tax Return for an S corporation.

What is the minimum tax in Massachusetts for corporations?

In general, a corporation subject to Massachusetts tax owes both an income measure tax and a non-income measure tax or a minimum corporate excise of $456.

For pdfFiller’s FAQs

What is Form 355C Combined Corporation Excise Return?

Form 355C Combined Corporation Excise Return is a tax form used by corporations in certain jurisdictions to report their combined corporate income and calculate the excise tax owed.

Who is required to file Form 355C Combined Corporation Excise Return?

Corporations that operate as a combined group, which are subject to excise tax in the relevant jurisdiction, are required to file Form 355C.

How to fill out Form 355C Combined Corporation Excise Return?

To fill out Form 355C, corporations must gather their financial data, complete the sections regarding income, deductions, and tax calculations, and ensure all combined entities are properly reported.

What is the purpose of Form 355C Combined Corporation Excise Return?

The purpose of Form 355C is to ensure proper reporting of income for combined corporations and to calculate the correct amount of excise tax owed.

What information must be reported on Form 355C Combined Corporation Excise Return?

Information required on Form 355C includes total income, deductions, the apportionment factor, the combined group's details, and other relevant tax calculations.