Massachusetts Refundable Film Credit Motion Picture Production Company

Refundable Film Credit Motion Picture Production Company
Schedule RFC
Massachusetts Department of Revenue

Schedule RFC
Refundable Film Credit
Motion Picture Production Company
For calendar year 2020 or taxable period beginning 	
Name of taxpayer 	

2020

and ending
Federal Identification number 	

Social Security number

City/Town 	

State 	

Phone number

Designated production company representative 	

E-mail address 		

Massachusetts start date 	

Massachusetts end date

Fill in if any amount of this credit(s) originates from a pass-through entity	

If Yes, name and identification number of the pass-through entity

Mailing address
Zip 	

Phone number

●

Credit calculation. If a corporation, omit lines 2 through 4.
	

1	 Amount of film credit (from Application for Payroll/Production Credit).
Certificate number 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

	

Note: If you are the beneficiary of a trust, enter amount from Schedule 2K-1, line 35, col. d.

	
	

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2	 Tax after credits (from Form 1, line 32; Form 1-NR/PY, line 36; Form 2, line 47; or Form M-990T-62, line 33). If line 2 is greater than or equal to
line 1, you do not have a refundable film credit. Enter the line 1 amount on the Credit Manager Schedule. Skip the
remainder of this schedule. If line 1 is greater than line 2, go to line 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2	
3	 Subtract line 2 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3	

	
	

4	 Refundable film credit. Multiply line 3 by .9 (90%). Enter here and on Part 2 of the Credit Manager Schedule. You must enclose Schedule RFC
with your return. Failure to do so will result in this credit being disallowed on your tax return and an adjustment of
your reported tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4	

Motion picture production companies qualify to elect a refundable film credit if they have not transferred or carried forward a portion of the film credit for
the production or certificate number to be refunded. Transferees of the film credit do not qualify for the refundable film credit. Transferees should claim
their film credit on the Credit Manager Schedule.
If an election to refund the film credit for a production or certificate number is made, the entire film credit remaining after reducing tax liability and other
credits will be refunded at 90%. Partial refunds, transfers or carryovers are not allowed. However, the refund can be applied as an estimated payment
for the subsequent tax year.

Declaration
I declare under the pains and penalties of perjury that to the best of my knowledge, the information contained herein is accurate and complete.
Signature	Date