Form 355s - S Corporation Excise Return - 2011 Page 7
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2011 FORM 355S, PAGE 7
FEDERAL IDENTIFICATION NUMBER
CORPORATION NAME
Schedule E
Taxable Income
2011
If showing a loss, mark an X in box at left
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1
Gross receipts or sales (from U.S. Form 1120, line 1e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 1
2
Gross profit (from U.S. Form 1120, line 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2
3
Other deductions (from U.S. Form 1120, line 26) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3
4
Net income (from U.S. Form 1120, line 28). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4
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Allowable U.S. wage credit. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5
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Subtract line 5 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
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State and municipal bond interest not included in U.S. net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 7
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Foreign, state or local income, franchise, excise or capital stock taxes deducted from U.S. net income. . . . 3 8
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Section 168(k) “bonus” depreciation adjustment. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 9
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Sections 31I and 3IK intangible expense add back adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . 3 10
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Sections 31J and 3IK interest expense add back adjustment. See instructions . . . . . . . . . . . . . . . . . . . . . . . . 3 11
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Federal production activity add back adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 12
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Other adjustments, including research and development expenses. See instructions . . . . . . . . . . . . . . . . 3 13
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Add lines 6 through 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
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× .10 = 3 15
Abandoned building renovation deduction . . . . . . . . . . . . . . . . . . .
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Dividends deduction (from Schedule E-1, line 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 16
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Exception(s) to the add back of intangible expenses (enclose Schedule ABIE) . . . . . . . . . . . . . . . . . . . . . . . . . 3 17
18
Exception(s) to the add back of interest expenses (enclose Schedule ABI) . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 18
19
Income subject to apportionment. Subtract the total of lines 15 through 18 from line 14 . . . . . . . . . . . . . . . 19
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Income apportionment percentage (from Schedule F, line 5 or 1.0, whichever applies). . . . . . . . . . . . . . . . . . . . . 3 20
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Multiply line 19 by line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
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Income not subject to apportionment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 22
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Total net income allocated or apportioned to Massachusetts. Add lines 21 and 22 . . . . . . . . . . . . . . . . . . 3 23
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Certified Massachusetts solar or wind power deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 24
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Massachusetts taxable income before net operating loss deduction. Subtract line 24 from line 23. . . . . . . . 25
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Net operating loss deduction (enclose Schedule E-2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 26
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Massachusetts taxable income. Subtract line 26 from line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Complete Schedule E only if Schedule S, line 17 is $6 million or more. Massachusetts Schedule S is used to determine whether or not an
S corporation is liable for an additional excise at the corporate level. If total receipts are $6 million or more, the corporation must complete
and retain with its records a pro forma U.S. Form 1120.
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