Massachusetts Form 355U – Fill Out and Use This PDF

Massachusetts Form 355U is a filing requirement of capital gain or loss computations for pass-through entities when doing business in the state. It must be completed by all legal businesses seeking to pay an income tax on those transaction results. The Form 355U primer outlines all the information and taxation criteria necessary, making it unambiguous as to what requires filing. All taxes and related requirements need to be fulfilled accurately in order to receive nonexamination status by submitting this form. Furthermore, forms should be sent on time annually in order to avoid any penalties—failure do so may result in unwanted fines and other punitive measures from the government. Massachusetts Form 355U gives peace of mind that you are following requirements correctly and playing by the rules.

Massachusetts Form 355U PDF Details

Dealing with taxes can be complicated, but understanding and filing the Massachusetts Form 355U is an important part of financial planning for many individuals in the state. The purpose of this form is to report income earned from the sale or exchange of capital assets during any tax year, including real estate property and investments such as stocks and bonds. Whether you're a seasoned investor looking to update your portfolio or a first-time seller trying their hand at trading in the stock market, getting knowledgeable on this form will help ensure your finances are properly managed come tax time. In this blog post, we'll provide an overview of what’s required when it comes to completing Form 355U and highlight some tips that may make preparing it easier.

Question	Answer
Form Name	Massachusetts Form 355U
Form Length	1 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	15 sec
Other names	taxable, Massachusetts, U-ST, form 355u

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Form 355U

Excise for Taxpayers

Subject to Combined Reporting

2011

Massachusetts

Department of

Revenue

Forcalendaryear2011ortaxableperiodbeginning		2011andending

Name of principal reporting corporation	Federal Identificationnumber
3	3

Principal address	City/Town	State	Zip

Contact person	Telephone number

1Type of group (check one only): 3 Financial Non-financial Mixed

2Are you making or are you subject to an affiliated group or worldwide election? 3 Affiliated group Worldwide Neither

3If an affiliated group or worldwide election applies, is it a new election for the current year? 3 Yes No

4Is any member of the group requesting alternate apportionment? 3 Yes No

5Is this an amended filing? 3 Yes No

6Is the group or any member deducting interest expense paid to a related entity? 3 Yes No

7Is the group or any member deducting intangible expense paid to a related entity? 3 Yes No

8Does the group have an excluded parent? 3 Yes No

9Has the group elected a Massachusetts adjusted basis for non-taxable members? 3 Yes No

10Is any member currently under audit by the Internal Revenue Service (IRS)? 3 Yes No

11Is any member taking a Massachusetts film credit against its income excise tax? 3 Yes No

12Is any member taking a life science credit against its income excise tax? 3 Yes No

13 Last year for which any member was audited by IRS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 13

14 Enter the number of federal disclosure statements filed by members for this tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 14

15 Enter the number of Massachusetts taxpayer disclosure statements included with return . . . . . . . . . . . . . . . . . . . . . . . . . . 3 15

16 Total number of taxable members included in the combined report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 16

17 Number of members subject to non-income measure only. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 17

18 Number of non-taxable members in the combined group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 18

19 Number of U.S. Schedules M-3 filed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . 3 19

20 Number of members subject to fiscalization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 20

Excise Tax Calculation

21	Total financial institution excise due from members	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 21
22	Total utility corporation excise due from members	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 22
23	Total business corporation measure of excise due from members. . .	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 23
24	Total excise before credits and payments.Add lines 21 through 23. .	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . 24
25	Credits taken by corporations using their own credits	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 25
26	Credits taken under sharing rules		. . . . . . . . . 3 26
27	Excise due before voluntary contribution	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . 27
28	Voluntary contribution for endangered wildlife conservation		. . . . . . . . . 3 28
29	Excise due plus voluntary contribution.Add lines 27 and 28	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . 29
30	2010 overpayment applied to 2011 tax (from Schedule CG, Part 1, line 2)		. . . . . . . . . 3 30
31	Estimated tax payments (group) (from Schedule CG, Part 1, total of lines 3 through 6)		. . . . . . . . . 3 31
32	Payment with extension (group) (from Schedule CG, Part 1, line 7) .	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 32
33	Pass-through entity withholding (total of all Schedules U-ST, line 42)	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 33
34	Total refundable credits (total of all Schedules U-ST, line 43)	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 34
35	Other payment or refund for this tax year	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 35
36	Total payments for the combined group	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . 36
37	Amount overpaid. Subtract line 29 from line 36	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . 37
38	Amount overpaid to be credited to 2012 estimated tax	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . 3 38
39	Amount overpaid to be refunded	. . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . .	. . . . . . . . . 3 39
40	Balance due. Subtract line 36 from line 29	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . . . 40
41	M-2220 penalty 3 $_______________________; Other penalties 3	$ ______________________	Total penalty 41
42	Interest	. . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . .3 42
43	Excise due plus statutory additions	. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . .	. . . . . . . . . 3 43

Massachusetts Form 355U – Fill Out and Use This PDF

Massachusetts Form 355U PDF Details

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