Get the free 2015 Massachusetts Corporation Excise Return Form 355 - mass

BE AC RT PL AT E PE TI T O V I E TE M EN SE ID AM SV B L I Commonwealth of Massachusetts Department of Revenue 2015 Massachusetts Corporation Excise Return Form 355 Massachusetts has an electronic

How to fill out 2015 massachusetts corporation excise

How to fill out 2015 Massachusetts Corporation Excise:

1. Start by gathering all the necessary documents and information. This may include your business's federal tax return, financial statements, and any other relevant paperwork.
2. Determine your business's gross income for the taxable year. This includes all revenues, sales, and other forms of income earned by the corporation in Massachusetts.
3. Calculate your corporation's net income by deducting any allowable expenses, deductions, or credits from the gross income. These may include operating expenses, depreciation, and tax credits.
4. Determine the applicable tax rate for your corporation based on the net income. In Massachusetts, the corporate excise tax rate varies depending on the amount of net income earned.
5. Fill out the necessary forms for the Massachusetts Corporation Excise, which is Form 355. Provide all the required information, such as your corporation's name, address, federal employer identification number (FEIN), and tax year.
6. Enter the calculated net income and apply the applicable tax rate to determine the amount of corporation excise tax due.
7. If your corporation has any tax credits or deductions, make sure to include them in the appropriate sections of the form to reduce the amount of tax owed.
8. Review the completed form for accuracy and ensure that all calculations are correct. Make sure to sign and date the form before submitting it to the Massachusetts Department of Revenue.
9. Keep a copy of the filled-out form and all relevant supporting documents for your records.

Who needs 2015 Massachusetts Corporation Excise?

1. All corporations operating in Massachusetts are required to file the Massachusetts Corporation Excise return for the taxable year 2015.
2. This includes both domestic corporations formed or organized in Massachusetts, as well as foreign corporations doing business in the state.
3. It is essential to note that even if your corporation had no income or loss for the taxable year, you may still be required to file the Massachusetts Corporation Excise return to fulfill your reporting obligations.

For pdfFiller’s FAQs

What is massachusetts corporation excise return?

Massachusetts corporation excise return is a tax return filed by corporations operating in Massachusetts to report their taxable income and calculate the excise tax owed to the state.

Who is required to file massachusetts corporation excise return?

Corporations that conduct business or have a physical presence in Massachusetts are required to file a corporation excise return.

How to fill out massachusetts corporation excise return?

Massachusetts corporation excise return can be filled out either online through the Department of Revenue's website or by mailing a paper form to the department.

What is the purpose of massachusetts corporation excise return?

The purpose of massachusetts corporation excise return is to determine the amount of excise tax owed by a corporation based on its taxable income and apportionment factors in the state.

What information must be reported on massachusetts corporation excise return?

Information such as the corporation's income, deductions, apportionment factors, tax credits, and other relevant financial data must be reported on a massachusetts corporation excise return.

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