Massachusetts Corporate Estimated Tax Payment Vouchers

Corporate Estimated Tax Payment Vouchers
355-ES instr with coupon
Form 355-ES
Instructions for Corporation
Estimated Excise Payment Vouchers
General Information

What is the purpose of the estimated excise payment vouchers? Estimated excise payment vouchers provide a means for paying any current excise due under MGL ch 63.

Who must make estimated payments? All business corporations that reasonably estimate their corporation excise to be in excess of $1,000 for the taxable year are required to make estimated
payments.

Note: Most corporations must make estimated payments electronically. See Technical Information Release (TIR) 16-9. Go to MassTax
Connect at www.mass.gov/masstaxconnect for more information.
All estimated excise payments made by a combined filing group
should be reported under the principal reporting entity’s tax account.

Are there penalties for failing to pay estimated taxes? Yes. An
additional charge is imposed on the underpayment of any corporate
estimated tax for the period of that underpayment. Use Form M-2220
when filing your annual return to determine any penalty due.

When and where are estimated tax vouchers filed? Estimated
excise may be paid in full on or before the 15th day of the third
month of the corporation’s taxable year or according to the following installment amount schedule: on or before the 15th day of the
third, sixth, ninth and twelfth months of the taxable year.
Percent of estimated excise due
First full taxable year of a corporation
All
with less than 10 employees
others
30%
40%
25%
25%
25%
25%
20%
10%

Most payments must be made electronically. Payment vouchers
with amounts due should be mailed to Massachusetts Department
of Revenue, PO Box 419272, Boston, MA 02241-9272. Make
check or money order payable to Commonwealth of Massachusetts and write your Account Identification number in the lower left
corner on your check or money order.

What if the corporation’s estimated excise liability changes
during the year? Even though you may not be required to make
estimated excise payments at the beginning of the taxable year,
your expected income, assets and credits may change so that you
will be required to make excise payments later.

Corporations that first meet the requirement for paying estimated
excise sometime after the first quarterly period should make estimated payments as shown on the enclosed chart.

2021
Massachusetts
Department of
Revenue

What if the corporation credited its 2020 overpayment to its
2021 excise? C corporations are required to file their excise returns on or before the 15th day of the fourth month following the
close of each taxable year (April 15 for corporations filing on a calendar year basis). The filing due date for S corporation excise returns is the 15th day of the third month following the close of each
taxable year. For further details and for special rules relating to
combined groups see TIR 17-5.
Payments made with a return, including extension payments, estimated excise payments and withholding, are considered to be paid
on the last day prescribed for the filing of the return and/or the payment of the tax, without regard to any extensions. See MGL ch 62C,
§ 79. Therefore, any overpayment from a prior year return will be
considered to be paid as of the prior year return due date. For example, if a calendar year C corporation reported an overpayment
on its 2020 corporation excise excise return and elected to apply it
as a credit to its 2021 estimated excise, the payment will be credited as of April 15, 2021, which is the 2020 return due date and
about one month after the due date of the first estimated excise installment payment for the 2021 tax year. To avoid the imposition of
underpayment penalties the first estimated excise installment
should be paid on or before the first installment due date, not the
return due date. No credit may be applied to any estimated excise
other than 2021.

Specific Instructions
Complete the enclosed Corporation Estimated Excise Worksheet.
Once you have used the worksheet to determine your estimated
excise due, you may pay the full amount of each installment electronically on MassTaxConnect at mass.gov/masstaxconnect. You
do not need to mail in any vouchers if you pay online.
If you are mailing in a payment, enter your name, address, identification number, taxable year and installment due dates on the enclosed vouchers.
Enter the amount of this installment from line 1 of the worksheet in
line 1 of your first voucher.

Mail the voucher with check or money order payable to Commonwealth of Massachusetts. Detach voucher at perforation. Do not
submit the entire worksheet with the voucher or your payment may
be delayed.
If you must amend your estimated excise or if you first meet the requirements to pay estimated excise in the 2nd, 3rd or 4th quarter
of the taxable year, use the enclosed Amended Estimated Excise
Payment Schedule.

Corporation Estimated Excise Worksheet
a. Total excise for prior year
$

b. Overpayment from last year to be credited to estimated excise for this year c. Estimated excise for year ending
$

$

1st
installment

If you first meet the requirements for making estimated payments in the taxable
year, use the Amended Estimated Tax Payment Schedule below.

2nd
installment

3rd
installment

4th
installment

1. Amount of each installment. Enter 40% of item c for installment 1. For 2nd,
3rd and 4th installments use 25%, 25% and 10% of item c, respectively.
Note: Corporations in their first full taxable year with less than 10 employees
should use 30%, 25%, 25% and 20% respectively.

$

$

$

$

2. Enter amount of overpayment from last year applied to an installment, if any.

$

$

$

$

3. Amount of this excise expected to be withheld during 2021.

$

$

$

$

4. Amount due. Subtract the total of lines 2 and 3 from line 1.

$

$

$

$

Amended Estimated Excise Payment Schedule
1. Enter total excise for prior year, if any. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.

$

2. Enter overpayment from last year, if any, to be credited to Estimated Excise this year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.

$

3. Enter recomputed Estimated Excise for 2021, if amending. (Enter Estimated Excise for 2020, if first meeting the requirement for
making estimated payments in the 2nd, 3rd or 4th quarter.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.

$

a. If amending your estimated excise in the 2nd, 3rd or 4th quarter, multiply line 3 by the appropriate installment percentage amount,
then subtract previous amounts paid and overpayments applied to date, if any. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a.

$

Enter the item a amount in the proper column of line 1 in the Estimated Excise Worksheet (above) and adjust or complete the remaining applicable items.

2021 Record of Estimated Excise Payments
Voucher
number

1

a.
Date

c.
2020 overpayment
credit applied to
installment

b.
Amount paid

Total amount paid and
credited from Jan. 1 through
the installment date shown
(col. b + col. c)

2
3
4

Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

If the corporation first meets the
requirement to make estimated
payments
By the last day of the 2nd month

The corporation* should pay the following
percentage by the 15th day of the —

Number of
installments
required

3rd month

6th month

9th month

12th month

4

40%

25%

25%

10%

65%

25%

10%

90%

10%

After the last day of the 2nd month and
before the first day of the 6th month

3

After the last day of the 5th month and
before the first day of the 9th month

2

After the last day of the 8th month and
before the first day of the 12th month

1

100%

*New corporations in their first full taxable year with fewer than 10 employees*
have lower percentages — 30–25–25–20%; 55–25–20% and 80–20%.
Payments can be made online on MassTaxConnect at mass.gov/masstaxconnect. If paying by check or money order, submit the vouchers, with your payments, when due. Make all checks payable to Commonwealth of Massachusetts.
If forms are lost, contact the Massachusetts Department of Revenue, Contact Center Bureau, PO Box 7010, Boston, MA 02204. Payments can also be
made electronically on MassTaxConnect at mass.gov/masstaxconnect. Call (617) 887-6367 or toll-free in Massachusetts at 1-800-392-6089.
Practitioners: You must obtain prior approval if you plan to use substitute vouchers.

BE SURE TO DETACH WHERE INDICATED.
FAILURE TO DO SO WILL RESULT IN DELAYS
PROCESSING YOUR PAYMENT.
DETACH HERE

2021 Form 355-ES
Corporate Estimated Tax Payment Voucher
Federal ID/Account ID number

Tax filing period

Due date

Tax type

Voucher type

014

17

ID type

Vendor code

0001

Business name
1. Amount due with this installment (from worksheet). . . . . . . . . . . . . . . . .
Form you plan to file:
Business address

Form 355

City/Town

State

E-mail address

Phone number

Zip

Form 355S

Form 355SC

Form 355SBC

Return this voucher with check or money order payable to Commonwealth of Massachusetts.
Mail to Massachusetts Department of Revenue, PO Box 419272, Boston, MA 02241-9272.
Important: Make your estimated tax payment online. It’s fast, easy and secure.
Go to mass.gov/masstaxconnect for more information.

AREA RESERVED
FOR 2-D BARCODE

BE SURE TO DETACH WHERE INDICATED.
FAILURE TO DO SO WILL RESULT IN DELAYS
PROCESSING YOUR PAYMENT.
DETACH HERE

2021 Form 355-ES
Corporate Estimated Tax Payment Voucher
Federal ID/Account ID number

Tax filing period

Due date

Tax type

Voucher type

014

17

ID type

Vendor code

0001

Business name
1. Amount due with this installment (from worksheet). . . . . . . . . . . . . . . . .
Form you plan to file:
Business address

Form 355

City/Town

State

E-mail address

Phone number

Zip

Form 355S

Form 355SC

Form 355SBC

Return this voucher with check or money order payable to Commonwealth of Massachusetts.
Mail to Massachusetts Department of Revenue, PO Box 419272, Boston, MA 02241-9272.
Important: Make your estimated tax payment online. It’s fast, easy and secure.
Go to mass.gov/masstaxconnect for more information.

AREA RESERVED
FOR 2-D BARCODE

BE SURE TO DETACH WHERE INDICATED.
FAILURE TO DO SO WILL RESULT IN DELAYS
PROCESSING YOUR PAYMENT.
DETACH HERE

2021 Form 355-ES
Corporate Estimated Tax Payment Voucher
Federal ID/Account ID number

Tax filing period

Due date

Tax type

Voucher type

014

17

ID type

Vendor code

0001

Business name
1. Amount due with this installment (from worksheet). . . . . . . . . . . . . . . . .
Form you plan to file:
Business address

Form 355

City/Town

State

E-mail address

Phone number

Zip

Form 355S

Form 355SC

Form 355SBC

Return this voucher with check or money order payable to Commonwealth of Massachusetts.
Mail to Massachusetts Department of Revenue, PO Box 419272, Boston, MA 02241-9272.
Important: Make your estimated tax payment online. It’s fast, easy and secure.
Go to mass.gov/masstaxconnect for more information.

AREA RESERVED
FOR 2-D BARCODE

BE SURE TO DETACH WHERE INDICATED.
FAILURE TO DO SO WILL RESULT IN DELAYS
PROCESSING YOUR PAYMENT.
DETACH HERE

2021 Form 355-ES
Corporate Estimated Tax Payment Voucher
Federal ID/Account ID number

Tax filing period

Due date

Tax type

Voucher type

014

17

ID type

Vendor code

0001

Business name
1. Amount due with this installment (from worksheet). . . . . . . . . . . . . . . . .
Form you plan to file:
Business address

Form 355

City/Town

State

E-mail address

Phone number

Zip

Form 355S

Form 355SC

Form 355SBC

Return this voucher with check or money order payable to Commonwealth of Massachusetts.
Mail to Massachusetts Department of Revenue, PO Box 419272, Boston, MA 02241-9272.
Important: Make your estimated tax payment online. It’s fast, easy and secure.
Go to mass.gov/masstaxconnect for more information.

AREA RESERVED
FOR 2-D BARCODE