Get the free Form 355C Combined Corporation Excise Return

This document is used for filing the Combined Corporation Excise Return for the tax year 2003 in Massachusetts, detailing information regarding corporation identification, tax calculations, and the

How to fill out form 355c combined corporation

How to fill out Form 355C Combined Corporation Excise Return

1. Obtain Form 355C from the relevant tax authority's website or office.
2. Fill out the identification section with the corporation's name, address, and federal employer identification number (EIN).
3. Enter the reporting period for the return.
4. Provide the total income of the corporation, including all sources of income.
5. Calculate allowable deductions and credits according to the guidelines provided in the instructions.
6. Determine the excise tax due based on the revenues and deductions.
7. Review and complete any additional sections that may apply to the corporation's specific situation.
8. Sign and date the form to certify the accuracy of the information provided.
9. Submit Form 355C to the appropriate tax authority by the due date.

Who needs Form 355C Combined Corporation Excise Return?

1. Corporations doing business in Massachusetts that meet certain income thresholds are required to file Form 355C.
2. Any affiliated group of corporations electing to file a combined return must use this form.

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 Massachusetts to report their excise tax obligations when they are part of a combined group.

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

Corporations that are part of a combined reporting group, as defined by Massachusetts tax law, are required to file Form 355C.

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

To fill out Form 355C, corporations must provide information about each member's income, apportionment factors, and calculate the total excise tax due on combined net income and gross receipts.

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

The purpose of Form 355C is to ensure that all entities in a combined reporting group report their collective income and excise tax liability accurately to the Massachusetts Department of Revenue.

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

Form 355C requires information such as the names and addresses of the corporations in the combined group, their federal identification numbers, total income, apportionment percentages, and details regarding deductions and credits.