MA DoR 355S 2021-2025 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 form 355s tax form

How to fill out MA DoR 355S

1. Start by obtaining the MA DoR 355S form from the Massachusetts Department of Revenue website.
2. Provide your name, address, and Social Security number at the top of the form.
3. Fill in the tax period for which you are filing the form.
4. Enter your total income and any adjustments to income in the designated sections.
5. Calculate your deductions and enter the total amount.
6. Determine your tax liability using the tax tables provided with the form.
7. Complete any additional sections regarding credits or payments.
8. Review the form for accuracy and completeness.
9. Sign and date the form at the bottom.
10. Submit the completed form to the appropriate Massachusetts Department of Revenue address.

Who needs MA DoR 355S?

1. Individuals filing their personal income tax returns in Massachusetts.
2. Taxpayers who are claiming certain tax credits, deductions, or exemptions.
3. Those who have income from sources such as wages, self-employment, or investments.

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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 form used by the Massachusetts Department of Revenue for reporting income and taxes for certain entities, generally regarding corporate excise tax.

Who is required to file MA DoR 355S?

Corporations doing business in Massachusetts, as well as foreign corporations that have income derived from Massachusetts sources, are required to file MA DoR 355S.

How to fill out MA DoR 355S?

To fill out MA DoR 355S, a taxpayer should carefully follow the instructions provided with the form, ensuring to accurately report all relevant income, deductions, and tax credits.

What is the purpose of MA DoR 355S?

The purpose of MA DoR 355S is to compute the corporate excise tax liability for corporations operating in or doing business with Massachusetts.

What information must be reported on MA DoR 355S?

MA DoR 355S requires reporting of corporate income, apportionment factors, deductions, tax credits, and any other relevant financial information to calculate tax liability.