Form P.s.1 - Public Service Corporation Franchise Tax Return - 2010

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2010
Form P.S.1
Massachusetts
Public Service Corporation
Department of
Franchise Tax Return
Revenue
For calendar year 2010 or taxable year beginning
2010 and ending
Name of corporation
Federal Identification number
Principal business address
City/Town
State
Zip
Date of organization
Name of U.S. parent if filing a consolidated return
Federal Identification number
Name of Treasurer/Assistant Treasurer/Responsible Corporate Officer
State of incorporation
Type of business for which credit is being claimed (check only one):
Gas and electric
Railroad
Power
Gas transmission
Street railway
Telephone
Water
Aqueduct
Telecommunications
Has the federal government changed your taxable income for any prior year which has not yet been reported to Massachusetts?
Yes
No
If requesting alternative apportionment under MGL Ch. 63, sec. 42, check here 3
and enclose Form AA-1 (see instructions).
Excise Tax Calculation
11 Net income as shown on U.S. Form 1120, line 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 1
12 State and municipal bond interest not included in U.S. net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2
13 Foreign, state or local income, franchise, excise or capital stock taxes deducted from U.S. net income . . . . . . . . . . . . . . . . . 3 3
14 Portion of net capital loss carryover used to reduce capital gain from U.S. Schedule D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4
15 Section 168(k) “bonus” depreciation adjustment. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5
16 Section 31I and 31J intangible and interest expense add back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 6
17 Federal production activity add back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 7
18 All other income not included in line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8
19 Income before deductions. Add lines 1 through 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Dividends received from other utility corporations 80% or more owned included in line 1 (from Schedule N) . . . . . . . . . . . . 3 10
11 Abandoned building renovation deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cost 3 $ ____________________ × .10 3 11
12 Exception to the add back of interest and/or intangible expenses (enclose schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 12
13 Total deductions. Add lines 10 through 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
14 Adjusted income. Subtract line 13 from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
15 Income apportionment percentage (from Schedule O, line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 15
16 Taxable income. Multiply line 14 by line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Excise due on income. Multiply line 16 by .065 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 17
18 Credit recapture (enclose Schedule H-2) and/or additional tax on installment sales. See instructions. . . . . . . . . . . . . . . . . . 3 18
19 Excise due before credits. Add lines 17 and 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 Economic Opportunity Area Credit (enclose Schedule EOAC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 20
21 Economic Development Incentive Program Credit. Certificate number 3
. . . . . . . . . . . . . . . . 3 21
22 Low-Income Housing Credit. Building Identification number 3
. . . . . . . . . . . . . . . . . . . . . . . . . 3 22
23 Historic Rehabilitation Credit. Certificate number 3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 23
24 Film Incentive Credit. Certificate number 3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 24
25 Medical Device Credit. Certificate number 3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 25
26 Brownfields Credit. Certificate number 3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 26
27 Life Science Company Investment Tax Credit under section 38U . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 27
28 Life Science Company FDA User Fee Credit under section 31M. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 28
29 Life Science Company Research and Development Credit under section 38W . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 29
30 Total credits. Add lines 20 through 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 30
Under penalties of perjury, I declare that to the best of my knowledge and belief, this return and enclosures are true, correct and complete.
Signature of appropriate corporate officer
Social Security number
Telephone number
Date
3
Signature of paid preparer
Employer Identification number
Address
Date
The Privacy Act Notice is available upon request. If you are signing as an authorized delegate of the appropriate corporate officer, check here
and enclose Massachusetts Form M-2848, Power of Attorney. Mail to: Massachusetts Department of Revenue, PO Box 7052, Boston, MA 02204.
Make check or money order payable to the Commonwealth of Massachusetts.
Form code 385 Tax type 0170

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