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

2003

Form P.S.1

Massachusetts

Public Service Corporation

Department of

Franchise Tax Return

Revenue

For calendar year 2003 or taxable year beginning

2003 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

Check type of utility:

0170 Gas and electric

0172 Railroad

0174 Power

0176 Gas transmission

0171 Street railway

0173 Telephone

0175 Water

0177 Aquedict

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 ❿

and attach Form AA-1 (see instructions).

Computation of Franchise Tax

Use whole dollar method

All amounts must be properly entered on all forms. Failure will result in a penalty assessment. Attachments are not sufficient compliance.

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

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

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

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

15 Section 168(k) “bonus” depreciation to be recaptured. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 5

16 All other income not included in lines 1 and 2 above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 6

17 Total. Add lines 1 through 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

18 Dividends received from other utility corporations 80% or more owned included in line 1 (from Schedule N) . . . . . . . . . . . . ❿ 8

× .10 ❿ 9

19 Abandoned building renovation deduction.. . . . . . . . . . . . . . . . . . . . . . . . . . Total cost ❿ $_____________________

10 Exception(s) to the add back of interest and/or intangible expenses (enclose schedule). . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 10

11 Adjusted income. Subtract the total of lines 8 through 10 from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12 Income apportionment percentage (from Schedule O, line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 12

13 Taxable income. Multiply line 11 by line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Excise due on income. Multiply line 13 by .065 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

15 Credit recapture (attach Schedule H-2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 15

16 Excise due before credits. Add lines 14 and 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

17 Economic Opportunity Area Credit (attach Schedule EOAC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 17

18 Full Employment Credit (attach Schedule FEC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 18

19 Low-Income Housing Credit (attach documentation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 19

20 Subtotal. Subtract the total of lines 17 through 19 from line 16. Not less than “0” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

21 Voluntary contribution for Endangered Wildlife Conservation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 21

22 Excise due plus voluntary contribution. Add lines 20 and 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 22

23 2002 overpayment applied to 2003 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 23

24 2003 Massachusetts estimated tax payments (do not include amount from line 23) . . . . . . . . . . ❿ 24

25 Payments made with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 25

26 Total payments. Add lines 23 through 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

27 Amount overpaid. Subtract line 22 from line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

28 Amount overpaid to be credited to 2004 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 28

29 Amount overpaid to be refunded. Subtract line 28 from line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 29

30 Balance due. Subtract line 26 from line 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

31 M-2220 penalty ❿ $ ______________________ ; Other penalties ❿ $ ______________________ . . . . . . . . Total penalty 31

32 Interest on unpaid balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 32

33 Total payment due at time of filing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 33

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

❿

The Privacy Act Notice is available upon request. If you are signing as an authorized delegate of the appropriate corporate officer, check here

and attach Mass. Form M-2848, Power of Attorney. Mail to: Massachusetts Department of Revenue, PO Box 7052, Boston, MA 02204. Make check or