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

2005

Form P.S.1

Massachusetts

Public Service Corporation

Department of

Franchise Tax Return

Revenue

For calendar year 2005 or taxable year beginning

2005 and ending

Name of corporation

Federal Identification number

Principal business address

City/Town

State

Zip

Date of organization

Name of Treasurer/Assistant Treasurer/Responsible Corporate Officer

State of incorporation

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 ‹

and enclose Form AA-1 (see instructions).

11 Net income as shown on U.S. Form 1120, line 28 or U.S. Form 1120A, line 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 1

12 State and municipal bond interest not included in U.S. net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 2

13 Foreign, state or local income, franchise, excise or capital stock taxes deducted from U.S. net income. . . . . . . . . . . . . . . . . ‹ 3

14 Portion of net capital loss carryover used to reduce capital gain from U.S. Schedule D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 4

15 Section 168(k) “bonus” depreciation adjustment. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 5

16 Section 31I and 31J intangible and interest expense add back. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 6

17 Federal production activity add back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 7

18 All other income not included in line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 8

19 Total. Add lines 1 through 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

10 Dividends received from other utility corporations 80% or more owned included in line 1 (from Schedule N) . . . . . . . . . . . ‹ 10

11 Abandoned building renovation deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . Total cost ‹ $ ___________________ × .10 ‹ 11

12 Exception(s) to the add back of interest and/or intangible expenses (enclose schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 12

13 Adjusted income. Subtract the total of lines 10 through 12 from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Income apportionment percentage (from Schedule O, line 5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 14

15 Taxable income. Multiply line 13 by line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

16 Excise due on income. Multiply line 15 by .065 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

17 Credit recapture (enclose Schedule H-2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 17

18 Excise due before credits. Add lines 16 and 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

19 Economic Opportunity Area Credit (enclose Schedule EOAC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 19

20 Full Employment Credit (enclose Schedule FEC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 20

21 Low-Income Housing Credit (enclose documentation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 21

22 Historic Rehabilitation Credit (enclose documentation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 22

23 Home Energy Efficiency Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 23

24 Solar Heat Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 24

25 Subtotal. Subtract the total of lines 19 through 24 from line 18. Not less than “0” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

26 Voluntary contribution for Endangered Wildlife Conservation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 26

27 Excise due plus voluntary contribution. Add lines 25 and 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 27

28 2004 overpayment applied to 2005 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 28

29 2005 Massachusetts estimated tax payments (do not include amount from line 28) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 29

30 Payments made with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 30

31 Total payments. Add lines 28 through 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

32 Amount overpaid. Subtract line 27 from line 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

33 Amount overpaid to be credited to 2006 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 33

34 Amount overpaid to be refunded. Subtract line 32 from line 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 34

35 Balance due. Subtract line 31 from line 27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

36 M-2220 penalty ‹ $ ______________________ ; Other penalties ‹ $ ______________________. . . . . . . . . Total penalty 36

37 Interest on unpaid balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 37

38 Total payment due at time of filing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ‹ 38

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

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.