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

This document is a tax return for business or manufacturing corporations in Massachusetts, detailing information required for excise taxes, including business income, deductions, and credits.

How to fill out form 355 business or

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

1. Gather all necessary financial records and information for your corporation.
2. Begin by entering the corporation's name, address, and federal EIN at the top of Form 355.
3. Specify the period covered by the excise return in the appropriate section.
4. Complete Part 1 of the form, which includes gross receipts and total income.
5. Proceed to Part 2 to calculate the excise of the corporation based on the applicable rate.
6. Fill out any applicable adjustments in Part 3 to ensure accurate reporting of taxes owed.
7. Review the calculation of total excise due in Part 4 of the form.
8. If applicable, enter any credits or payments made on the form to determine the final balance.
9. Sign and date the form; ensure all information is accurate before submission.
10. Submit the completed form by the due date to the appropriate tax authority.

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

1. Corporate entities engaged in business or manufacturing activities within the jurisdiction requiring the payment of an 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 Business or Manufacturing Corporation Excise Return 2002 is a tax return form used by businesses and manufacturing corporations in Massachusetts to report their excise taxes based on their gross receipts and tangible property.

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

Corporations doing business in Massachusetts or having taxable income in the state are required to file Form 355 Business or Manufacturing Corporation Excise Return 2002.

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

To fill out Form 355, corporations must provide their basic business information, calculate their excise tax based on gross receipts, report any applicable deductions or credits, and submit the completed form along with any tax payment to the Massachusetts Department of Revenue.

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 based on their revenue and property usage.

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

The form requires information such as the corporation's name, address, federal identification number, total income, deductions, and the calculation of the excise tax owed, as well as other relevant financial details.