MA DoR 355S 2016 free printable template

2016 FORM 355S PAGE 2 EXCISE CALCULATION Taxable Massachusetts tangible property if applicable from Schedule C line 4. File pg. 1 FOR PRIVACY ACT NOTICE SEE INSTRUCTIONS. PRINT IN BLACK INK Calendar year filers enter 01-01-2016 and 12-31-2016 below. Fiscal year filers enter appropriate dates. Tax year beginning 3 Tax year ending 3 Form 355S S Corporation Excise Return FEDERAL IDENTIFICATION NUMBER FID NAME OF CORPORATION PRINCIPAL BUSINESS ADDRESS CITY/TOWN/POST OFFICE STATE ZIP 4 Fill in if...

How to fill out MA DoR 355S

How to fill out MA DoR 355S

1. Gather all necessary personal and financial information before starting.
2. Download the MA DoR 355S form from the Massachusetts Department of Revenue website.
3. Start by filling out your personal information, including your name, address, and Social Security number.
4. Indicate your filing status for the tax year (e.g., single, married, etc.).
5. Report your total income by filling in the appropriate sections, including wages, interest, and other income sources.
6. Complete the deductions section, ensuring to apply for any eligible deductions.
7. Calculate your tax liability using the tax tables provided in the form or the online calculator.
8. Review the form for accuracy and ensure all sections are filled in completely.
9. Sign and date the form, and provide any required attachments before submission.
10. Submit the completed form by mailing it to the specified address or filing electronically if available.

Who needs MA DoR 355S?

1. The MA DoR 355S form is needed by individuals who are residents of Massachusetts and are filing a state income tax return.
2. It is specifically for individuals who had a total income that does not exceed a certain threshold, allowing for simplified filing.
3. Taxpayers who wish to claim specific deductions or credits should also complete this form.

Instructions and Help about MA DoR 355S

People Also Ask about

What is the excise tax on an S Corp in Massachusetts?

For traditional corporations, the corporate excise tax generally is the sum of an 8.00% tax on income attributable to Massachusetts and a tax of $2.60 per $1,000 of the greater of either taxable Massachusetts tangible personal property or taxable net worth. There is a minimum excise tax for corporations of $456.

What is Form 355S?

All corporations and financial institutions that reasonably estimate their excise to be in excess of $1,000 for the taxable year are required to make estimated payments. Form 355-ES, 2023 Corporate Estimated Tax Payment Instructions and Worksheet. Must be filed electronically through MassTaxConnect.

What is the minimum tax on Form 355 in Massachusetts?

Massachusetts Form 355 Excise Tax includes a tax of $2.60 per $1,000 on taxable Massachusetts tangible property or taxable net worth, whichever applies, and a tax of 8.0% on income attributable to Massachusetts.

What is the form for a Massachusetts S Corp?

Massachusetts S corporations must annually file Form 355S or Form 63 FI. A Massachusetts S corporation that is included in a 355U also files Form 355S or 63FI but that return will generally be informational only. S corporations must also include with the annual filing: A Massachusetts Schedule S.

What forms do I need to file as an S Corp?

Use Form 1120-S to report the income, gains, losses, deductions, credits, etc., of a domestic corporation or other entity for any tax year covered by an election to be an S corporation.

What is MA Form 355S?

S corporations will file Form 355S indicating on the face of such return that they are subject to combined reporting for their income measure of excise and exclude from that separate return the income that is reported on the group's Form 355U (Schedule E is not required unless the taxpayer has income from a source

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What is MA DoR 355S?

MA DoR 355S is a tax form used in Massachusetts for reporting personal income tax for certain types of taxpayers, typically corporations.

Who is required to file MA DoR 355S?

Corporations doing business in Massachusetts or having income derived from sources within the state are required to file MA DoR 355S.

How to fill out MA DoR 355S?

To fill out MA DoR 355S, corporations need to provide their identification information, income details, deductions, and any applicable tax credits. Guidance is available in the form's instructions.

What is the purpose of MA DoR 355S?

The purpose of MA DoR 355S is to calculate and report the personal income tax owed by corporations operating in Massachusetts.

What information must be reported on MA DoR 355S?

MA DoR 355S requires reporting of income, deductions, and credits, along with the corporation's name, tax identification number, and other relevant financial information.