Form 355s - S Corporation Excise Return - 2012 Page 2
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2012 FORM 355S, PAGE 2
EXCISE CALCULATION
1
Taxable Massachusetts tangible property,
× .0026 = 3 1
if applicable (from Schedule C, line 4) . . . . . . 3
2
Taxable net worth, if applicable (from
× .0026 = 3 2
Schedule D, line 10) . . . . . . . . . . . . . . . . . . . . 3
3
× .0800 = 3 3
Qualified taxable income and passive income . . . . . . 3
4
Income (from 2012 Schedule S, line 17) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4
5
Income taxable in Massachusetts (from Schedule E, line 27). Enter “0” if a loss . . . . . . . . . . . . . . . . . . . 3 5
6
If line 4 is less than $6 million, enter “0”. If line 4 is $6 or more, but less than $9 million,
multiply line 5 by .0183. If line 4 is $9 million or more, multiply line 5 by .0275 . . . . . . . . . . . . . . . . . . . . . 6
7
Credit recapture (enclose Schedule(s) H and/or H-2). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . 3 7
8
Additional tax on installment sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8
9
Excise before credits. Add line 1 or 2, whichever applies, to total of lines 3, 6, 7 and 8 . . . . . . . . . . . . . . . 9
10
Total credits (from Schedule CR, line 15; unitary filers, see instructions) . . . . . . . . . . . . . . . . . . . . . . . . 3 10
11
Excise after credits. Subtract line 10 from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
12
Combined filers only, enter the amount of tax from Schedule U-ST, line 41 . . . . . . . . . . . . . . . . . . . . . . . . 12
13
Minimum excise (cannot be prorated; unitary filers, see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
14
Excise due before voluntary contribution. (line 11 or 13, whichever is greater) . . . . . . . . . . . . . . . . . . . . . 14
15
Voluntary contribution for endangered wildlife conservation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 15
16
Excise due plus voluntary contribution. Add lines 14 and 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 16
17
2011 overpayment applied to your 2012 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 17
18
2012 Massachusetts estimated tax payments (do not include amount in line 17) . . . . . . . . . . . . . . . . . 3 18
19
Payment made with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 19
20
Pass-through entity withholding (from Schedule 3K-1)
Payer ID number 3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 20
21
Total refundable credits (from Schedule RF, line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 21
22
Total payments. Add lines 17 through 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
23
Amount overpaid. Subtract line 16 from line 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24
Amount overpaid to be credited to 2013 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 24
25
Amount overpaid to be refunded. Subtract line 24 from line 23 . . . . . . . . . . . . . . . . . . . . . . . . Refund 3 25
26
Balance due. Subtract line 22 from line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance due 3 26
27
a. M-2220 penalty 3
b. Late file/pay penalties
. . . . a + b = 27
28
Interest on unpaid balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
29
Payment due at time of filing. Make check payable to Commonwealth of Massachusetts . . . Total due 3 29
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