Refundable Film Credit Form Motion Picture Production Company - Massachusetts Department Of Revenue - 2008

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2008
Massachusetts
Refundable Film Credit
Department of
Motion Picture Production Company
Revenue
Motion picture production companies qualify to elect a refundable film credit if they have not transferred or carried forward a portion of the film credit for the
production/certificate number to be refunded. Transferees of the film credit do not qualify for the refundable film credit. Transferees should claim their film
credit on Schedule Z (Form 1 or Form 1-NR/PY); Form 2, line 48; Form 3F, line 37; Schedule CR (Form 355, 355C or 355S) Form M-990T, line 30; or
Form M-990T-62, line 36.
Note: If an election to refund the film credit for a production/certificate number is made, the entire film credit remaining after reducing tax liability and other
credits will be refunded at 90%. Partial refunds, transfers or carryovers are not allowed. However, the refund can be applied as an estimated payment for
the subsequent tax year.
For calendar year 2008 or taxable year beginning
and ending
Taxpayer name
Federal Identification or Social Security number
Mailing address
City/Town
State
Zip
Designated production company representative
Telephone
E-mail address
Massachusetts start date
Massachusetts end date
1 Amount of film credit (from Application for Payroll/Production Credit). Enter certificate number _________________________ 1
Note: If you are the beneficiary of a trust, enter the amount from Schedule 2K-1, line 25, col. d.
2 Tax after credits (from Form 1, line 31; Form 1-NR/PY, line 36; Form 2, line 53; Form 3F, line 40; Form 355 and 355C, line 7;
Form 355S, line 10; Form M-990T, line 33; or Form M-990T-62, line 39). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
If line 2 is greater than or equal to line 1, you do not have a refundable film credit. Enter the line 1 amount on Schedule Z,
line 8 (Form 1 or Form 1-NR/PY); Form 2, line 48; Form 3F, line 37; Schedule CR (Form 355, 355C or 355S); Form M-990T,
line 30; or Form M-990T-62, line 36. Skip the remainder of this schedule. If line 1 is greater than line 2, go to line 3.
3 Subtract line 2 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Multiply line 3 by .9 (90%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Refundable film credit. Add lines 2 and 4. Enter here and on Form 1, line 42; Form 1-NR/PY, line 47; Form 2, line 59; Form 3,
Schedule 3K-1, line 5j; Form 3F, line 44; Form 355 and 355C, line 15; Form 355S, line 18; Form M-990T, line 39; or Form
M-990T-62, line 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
I declare under the pains and penalties of perjury that to the best of my knowledge, the information contained herein is accurate and complete.
Signature
Date

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