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Massachusetts Free Printable sch. HM for 2021 Massachusetts Harbor Maintenance Credit

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Harbor Maintenance Credit
sch. HM

Massachusetts Department of Revenue Schedule HM Harbor Maintenance Tax Credit For calendar year 2020 or taxable year beginning Federal Identification number Name Fill in applicable oval: Shipper Exporter Importer Current year harbor maintenance tax credit. Massachusetts port and ending 2020 Date paid Documentation must be provided upon request. a. Tax paid on port b. Tax paid on port use for domestic move- use for exports of ments of break-bulk break-bulk and and containerized cargo containerized cargo 11 Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Computation of credit 12 Total qualifying harbor maintenance taxes for this year. Add line 1, col’s. a through c. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 13 Enter unused credit from prior year. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 14 Massachusetts Harbor Maintenance Tax Credit available this year. Add lines 2 and 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 15 Total corporate excise for purposes of determining allowable Harbor Maintenance Tax Credit. Form 355, Computation of Excise, line 6; Form 355S, Computation of Excise, line 9; or Form 355U, Schedule U-ST, line 37. . . . . 5 16 Amount of Vanpool Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 17 Amount of ITC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 18 Amount of EOAC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 19 Amount of Research Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Amount of Low-Income Housing Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Amount of Economic Development Incentive Program Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Amount of Brownfields Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Amount of Historic Rehabilitation Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Amount of Film Incentive Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Amount of Medical Device Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Amount of Life Science Credit(s). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Amount of Employer Wellness Program Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Amount of Certified Housing Development Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Amount of Low-Income Housing Donation Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Amount of Veteran's Hire Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Amount of Community Investment Tax Credit (non-refundable). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Amount of Apprentice Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 Amount of Vacant Store Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Add lines 6 through 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 c. Tax paid on port use for imports of break-bulk and containerized cargo 2020 SCHEDULE HM, PAGE 2 Name Federal Identification number Computation of credit (cont’d.) 25 Subtract line 24 from line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Minimum corporate excise. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 Maximum allowable current year Harbor Maintenance Tax Credit. Subtract line 26 from line 25. If 0 or less, you do not qualify for a current year Harbor Maintenance Tax Credit, enter 0 in line 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 Enter the smaller of line 4 or line 27 here and on Schedule CMS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Credits Any credit carryover being claimed must be claimed on Schedule CMS. Line item information Enter on line 3 the amount of any unused harbor maintenance credit from the prior year as reported on the taxpayer’s prior year Schedule CMS. General information MGL ch 63, § 38P provides for a credit against the corporate excise for certain harbor maintenance taxes paid to the U.S. Customs Service pursuant to IRC §§ 4461, 4462. A corporation is eligible for the credit for harbor maintenance taxes paid on or after July 1, 1996, if the tax paid is attributable to the shipment of breakbulk or containerized cargo by sea- and ocean-going vessels through Massachusetts ports. “Break-bulk cargo,” shall mean general goods, commodities or wares which are customarily shipped in boxed, bagged, crated or unitized form, held in the vessel’s general holding areas, and handled by the piece, unit or in separate lots; without limiting the generality of the foregoing definition of break-bulk cargo, that term shall include road motor vehicles and other odd-size cargo, but shall not include containerized cargo or bulk cargo. “Bulk cargo,” shall mean unsegregated mass commodities including, without limitation, items such as petroleum products, coal and bulk salt which are carried loose and which are customarily loaded and unloaded by pumping, shoveling, scooping or other similar means. “Containerized cargo” shall mean general goods, commodities or wares that are shipped in non-disposable, reusable, commercial sized shipping containers that are customarily used on sea- and ocean-going vessels for the convenient shipment of such goods, commodities or wares. Taxes paid with respect to passengers, the shipment of bulk cargo or the shipment of any other cargo or item of commerce not included in the meaning of break-bulk or containerized cargo are not eligible for this credit. The credit is not subject to the 50% limitations of MGL ch 63, § 32C, however, it may not reduce the corporate excise to less than the minimum excise of $456. A taxpayer may carryover any excess credit to any of the next succeeding five taxable years. Documentation must be provided by the taxpayer, upon request by the Department, that the taxpayer claiming the Credit has paid the Harbor Maintenance Tax. Such documentation may include, but is not limited to, U.S. Customs Form 349 and/or Customs Form 7501.
Extracted from PDF file 2020-massachusetts-schedule-hm.pdf, last modified November 2020

More about the Massachusetts Schedule HM Individual Income Tax TY 2020

We last updated the Harbor Maintenance Credit in March 2021, so this is the latest version of Schedule HM, fully updated for tax year 2020. You can download or print current or past-year PDFs of Schedule HM directly from TaxFormFinder. You can print other Massachusetts tax forms here.

Other Massachusetts Individual Income Tax Forms:

TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 1 Resident Income Tax Return
Schedules X/Y Other Income and Deductions
Form M-4868 Application for Automatic Six-Month Extension of Time to File Massachusetts Income Tax Return
Form 1-NR/PY Nonresident or Part-Year Resident Income Tax Return
Schedule CB Circuit Breaker Credit

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 Schedule HM from the Department of Revenue in March 2021.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Massachusetts Schedule HM

We have a total of ten past-year versions of Schedule HM in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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