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Massachusetts Free Printable 355-ES instr with coupon for 2023 Massachusetts Corporate Estimated Tax Payment Vouchers

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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
Extracted from PDF file 2021-massachusetts-form-355-es.pdf, last modified February 2021

More about the Massachusetts Form 355-ES Corporate Income Tax

This form is used to fin the estimated tax that must be paid for a corporation.

We last updated the Corporate Estimated Tax Payment Vouchers in February 2021, and the latest form we have available is for tax year 2021. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Massachusetts Department of Revenue. You can print other Massachusetts tax forms here.

Related Massachusetts Corporate Income Tax Forms:

TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Massachusetts Form 355-ES.

Form Code Form Name
Form 355-ES-2019 Corporate Estimated Tax Payment Vouchers

Download all MA tax forms View all 127 Massachusetts Income Tax Forms


Form Sources:

Massachusetts usually releases forms for the current tax year between January and April. We last updated Massachusetts Form 355-ES from the Department of Revenue in February 2021.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Massachusetts Form 355-ES

We have a total of six past-year versions of Form 355-ES in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2021 Form 355-ES

355-ES instr with coupon

2019 Form 355-ES

355-ES instr with coupon

2017 Form 355-ES

355-ES CORP (statement)


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