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Massachusetts Free Printable 355-ES instr with coupon for 2020 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 Tax Payment Vouchers General Information What is the purpose of the estimated tax payment vouchers? Estimated tax payment vouchers provide a means for paying any current taxes 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 tax 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 taxes 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 tax 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 tax liability changes during the year? Even though you may not be required to make estimated tax payments at the beginning of the taxable year, your expected income, assets and credits may change so that you will be required to make tax payments later. Corporations that first meet the requirement for paying estimated taxes sometime after the first quarterly period should make estimated payments as shown on the enclosed chart. 2019 Massachusetts Department of Revenue What if the corporation credited its 2018 overpayment to its 2019 tax? Massachusetts law was changed to conform the filing due dates for Massachusetts C corporation tax returns to federal filing due dates, beginning with tax returns due on or after January 1, 2018. C corporations are now required to file their tax 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 law did not change the filing due date for S corporation tax returns, which remains the 15th day of the third month following the close of each taxable year. The laws governing estimated tax payment requirements for corporations were not changed. For further details and for special rules relating to combined groups see TIR 17-5. Payments made with a return, including extension payments, estimated tax 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 2018 corporation excise tax return and elected to apply it as a credit to its 2019 estimated tax, the payment will be credited as of April 17, 2019, which is the 2018 return due date and about one month after the due date of the first estimated tax installment payment for the 2019 tax year. To avoid the imposition of underpayment penalties the first estimated tax 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 tax other than 2019. Specific Instructions Complete the enclosed Corporation Estimated Tax Worksheet. Once you have used the worksheet to determine your estimated tax 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 tax or if you first meet the requirements to pay estimated tax in the 2nd, 3rd or 4th quarter of the taxable year, use the enclosed Amended Estimated Tax Payment Schedule. Corporation Estimated Tax Worksheet a. Total tax for prior year $ b. Overpayment from last year to be credited to estimated tax for this year c. Estimated tax for year ending $ $ If you first meet the requirements for making estimated payments in the taxable year, use the Amended Estimated Tax Payment Schedule below. 1st installment 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 tax expected to be withheld during 2019. $ $ $ $ 4. Amount due. Subtract the total of lines 2 and 3 from line 1. $ $ $ $ Amended Estimated Tax Payment Schedule 1. Enter total tax for prior year, if any. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. $ 2. Enter overpayment from last year, if any, to be credited to Estimated Tax this year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. $ 3. Enter recomputed Estimated Tax for 2019, if amending. (Enter Estimated Tax for 2018, if first meeting the requirement for making estimated payments in the 2nd, 3rd or 4th quarter.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. $ a. If amending your estimated tax 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 Tax Worksheet (above) and adjust or complete the remaining applicable items. 2019 Record of Estimated Tax Payments Voucher number a. Date c. 2018 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) 1 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. DETACH WHERE INDICATED. FAILURE TO DO SO WILL DELAY THE PROCESSING OF YOUR PAYMENT. DETACH HERE 2019 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: File your Form 355-ES and make your payment online. It’s fast, easy and secure. Go to mass.gov/masstaxconnect for more information. AREA RESERVED FOR 2-D BARCODE DETACH WHERE INDICATED. FAILURE TO DO SO WILL DELAY THE PROCESSING OF YOUR PAYMENT. DETACH HERE 2019 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: File your Form 355-ES and make your payment online. It’s fast, easy and secure. Go to mass.gov/masstaxconnect for more information. AREA RESERVED FOR 2-D BARCODE DETACH WHERE INDICATED. FAILURE TO DO SO WILL DELAY THE PROCESSING OF YOUR PAYMENT. DETACH HERE 2019 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: File your Form 355-ES and make your payment online. It’s fast, easy and secure. Go to mass.gov/masstaxconnect for more information. AREA RESERVED FOR 2-D BARCODE DETACH WHERE INDICATED. FAILURE TO DO SO WILL DELAY THE PROCESSING OF YOUR PAYMENT. DETACH HERE 2019 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: File your Form 355-ES and make your 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 2019-massachusetts-form-355-es-2019.pdf, last modified January 2019

More about the Massachusetts Form 355-ES-2019 Corporate Income Tax Estimated TY 2019

We last updated the Corporate Estimated Tax Payment Vouchers in February 2019, so this is the latest version of Form 355-ES-2019, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 355-ES-2019 directly from TaxFormFinder. 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-2019.

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Form 355-ES Corporate Estimated Tax Payment Vouchers

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Form Sources:

Massachusetts usually releases forms for the current tax year between January and April. We last updated Massachusetts Form 355-ES-2019 from the Department of Revenue in February 2019.

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Form 355-ES-2019 is a Massachusetts Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.

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-2019

We have a total of five past-year versions of Form 355-ES-2019 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 355-ES-2019

355-ES instr with coupon


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