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

2001

Form P.S.1

Massachusetts

Public Service Corporation

Department of

Franchise Tax Return

Revenue

For calendar year 2001 or taxable year beginning

, 2001 and ending

Name of corporation

Federal Identification number

Principal business address

Department of Revenue use only

Name of Treasurer/Assistant Treasurer/Responsible Corporate Officer

State of incorporation

Check type of utility:

Date of organization

0170 Gas and electric

0173 Telephone

0176 Gas transmission

0171 Street railway

0174 Power

0177 Aqueduct

0172 Railroad

0175 Water

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 All other income not included in lines 1 and 2 above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 5

16 Total. Add lines 1 through 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

17 Dividends received from other utility corporations 80% or more owned included in line 1 (from Schedule N) . . . . . . . . . . . . ❿ 7

× .10 . . . . . . . . . ❿ 8

18 Abandoned Building Renovation Deduction. . . . . . . . . . . . . . . . . . . . Total cost ❿ $ ________________

19 Adjusted income. Subtract the total of lines 7 and 8 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

10 Income apportionment percentage (from Schedule O, line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 10

11 Taxable income. Multiply line 9 by line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12 Excise due on income. Multiply line 11 by .065 (6.5%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

13 Economic Opportunity Area Credit Recapture (attach Schedule H-2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 13

14 Excise due before credits. Add lines 12 and 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

15 Economic Opportunity Area Credit (attach Schedule EOA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 15

16 Full Employment Credit (attach Schedule FEC). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 16

17 Subtotal. Subtract the total of lines 15 and 16 from line 14. Not less than “0” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

18 Voluntary contribution for Endangered Wildlife Conservation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 18

19 Excise due plus voluntary contribution. Add lines 17 and 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 19

20 2000 overpayment applied to 2001 estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 20

21 2001 Massachusetts estimated tax payments (do not include amount from line 20) ❿ 21

22 Payments made with extension. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 22

23 Total payments. Add lines 20 through 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

24 Amount overpaid. Subtract line 19 from line 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

25 Amount overpaid to be credited to 2002 estimated tax . . . . . . . . . . . . . . . . . . . . . . . ❿ 25

26 Amount overpaid to be refunded. Subtract line 25 from line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 26

27 Balance due. Subtract line 23 from line 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

28 M-2220 penalty ❿ $______________________ ; Other penalties ❿ $ ______________________ . . . . . . . . Total penalty 28

29 Interest on unpaid balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 29

30 Total payment due at time of filing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 30

Declaration

Under the penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my

knowledge and belief, it is true, correct and complete. Declaration of preparer (other than taxpayer) is based on all information of which he/she has

knowledge.

Signature of appropriate corporate officer

Social Security number

Telephone number

Date

Individual or firm signature of preparer

Employer Identification number

Address

Date