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Massachusetts Free Printable sch. NIR for 2020 Massachusetts Net Income Reconciliation (OBSOLETE)

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Net Income Reconciliation (OBSOLETE)
sch. NIR

2014 Massachusetts Schedule NIR Net Income Reconciliation Corporation name (enter name of principal reporting corporation if filing 355U) Federal Identification number Name of corporation which submits U.S. Schedule M-3 Federal Identification number Department of Revenue General Information 11 Did the corporation file SEC Form 10-K for this tax period?  Yes  No.  If Yes, use the income as reported on SEC Form 10-K for this reconciliation. 12 If the corporation did not file SEC Form 10-K, were the financial statements for this tax period audited?  Yes  No.  If Yes, use the income from the audited income statement for this reconciliation. 13 If the corporation did not file SEC Form 10-K and its financial statements were not audited, was an income statement prepared for this period?  Yes  No.  If Yes, use the net income from the unaudited income statement for this reconciliation.If No, use the income from the corporation’s books. Consolidated Worldwide Income 14 Enter the corporation’s total worldwide income (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 05 Non-includable foreign entity name a. Federal Identification number b. Entity type c. Files in d. Category Massachusetts type e. Adjustment to income 06 Non-includable U.S. entity name a. Federal Identification number b. Entity type c. Files in d. Category Massachusetts type e. Adjustment to income 07 Other includable entity name a. Federal Identification number b. Entity type c. Files in d. Category Massachusetts type e. Adjustment to income 18 19 10 11 12 13 Adjustment to eliminations between includable and non-includible entities (from U.S. Schedule M-3, part 1, line 8). . . 8 Adjustment to reconcile the income statement for the tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Intercompany dividend adjustments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Other statutory accounting adjustments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Other adjustments not required by statutory accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Book income from federal return as filed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Schedule NIR Instructions General Information What Is the Net Income Reconciliation? Schedule Net Income Reconciliation (NIR) reconciles income reported to shareholders with the income reported on the taxpayer’s consolidated U.S. tax return and is similar to U.S. Schedule M-3, Part 1. Taxpayers must file Schedule NIR if required to file a U.S. Schedule M-3 with their U.S. tax return, including corporations that are part of a consolidated return that includes U.S. Schedule M-3. Corporations included in a Massachusetts combined group submit Schedule NIR with Form 355U. Multiple Schedules NIR are required only where a Massachusetts combined group includes corporations that separately submit U.S. Schedules M-3 with separate U.S. tax returns. Line Instructions Registration Section. Enter the name and Federal Identification number of the entity submitting Schedule NIR on the top line. On the 2nd line, enter the name and Federal Identification number as it appears on U.S. Schedule M-3 as filed. This may be a corporation that does not have a requirement to file a return in Massachusetts. If applicable, enter the same information which was entered in line 1. Do not leave line 2 blank. Line 5a. Enter the entity’s Federal Identification number. If the entity does not have one, enter zeros. Line 5b. Enter the code corresponding to the type of entity for U.S. tax purposes using the entity type chart. Line 5c. If the entity files an income tax return of any kind in Massachusetts, enter “Y”. If no return is filed in Massachusetts, enter “N.” Line 5d. Enter “1” if this is a non-includible foreign entity with net income greater than zero. Enter “2” if this is a non-includible foreign entity with net income of zero or less than zero. Line 5e. Enter, as a negative amount, the amount of income excluded from the U.S. return due to the exclusion of this entity. Losses excluded from the U.S. return are entered as positive amounts. The total of all entries on Schedule NIR line 5e should equal the total of the U.S. Schedule M-3, part 1, lines 5a and 5b. Line 6. Enter individually the name of each separate domestic entity whose income is included in the worldwide income shown on line 4 but not included on the federal tax return. These will be the same entities identified in the required schedules reconciling the entries on U.S. Schedule M-3, part 1, lines 6a and 6b. Lines 1 through 3. Complete lines 1 through 3 using information from U.S. Schedule M-3, Part 1. Line 6a. Enter the entity’s Federal Identification number. If the entity does not have one, enter zeros. Line 4. Enter in line 4 the consolidated worldwide income exactly as shown on U.S. Schedule M-3, Part 1, line 4. Line 6b. Enter the code corresponding to the type of entity for federal tax purposes. Use the same entity type codes provided for line 5b. Lines 5 through 7. List individually the different entities, included or excluded in converting the consolidated worldwide income on line 4 to the net income per income statement figure reported on U.S. Schedule M3, Part 1, line 11. Each entity must be identified by name, Federal Identification number (if applicable), and entity type using the following table: Line 6c. If the entity files a return in Massachusetts, enter “Y.” If not, enter “N.” Entity Type Codes for Column b 01: Corporations exempt from taxation under section 501 and not included in a U.S. consolidated income tax return. 02: Insurance companies subject to tax under section 801 and not included in a U.S. consolidated income tax return. 03: Foreign corporations not included in a U.S. consolidated income tax return. 04: Corporations with respect to which and election under section 936 (relating to possession tax credit) is in effect for the taxable year. 05: Regulated Investment Company subject to tax under subchapter M 06: Real Estate Investment Trust subject to tax under subchapter M 07: A DISC as defined in section 992(a)(1)). 21: A U.S. domestic corporation, whether included or excluded in the U.S. return, where code numbers 01 through 07 do not apply. 22: A U.S. domestic limited liability company, whether included or excluded in the U.S. return, where code numbers 01 through 07 do not apply. 23: A U.S. domestic entity which is not a corporation or a limited liability company, whether included or excluded in the U.S. return, where code numbers 01 through 07 do not apply. 31: A foreign entity, whether included or excluded in the U.S. return, where code numbers 01 through 07 do not apply. Line 5. Enter individually the name of each separate foreign entity whose income is included in the worldwide income shown on line 4 but not included on the U.S. tax return. These will be the same entities identified in the required schedules reconciling the entries on U.S. Schedule M-3, Part 1, lines 5a and 5b. Line 6d. Enter “3” if this is a non-includible domestic entity with net income greater than zero. Enter “4” if this is a non-includible domestic entity with net income of zero or less than zero. Line 6e. Enter, as a negative amount, the amount of income excluded from the U.S. return due to the exclusion of this entity. Losses excluded from the U.S. return are entered as positive amounts. The total of all entries on Schedule NIR line 6e should equal the total of the U.S. Schedule M-3, Part 1, lines 6a and 6b. Line 7. Enter individually the names of each separate entity whose income or loss is not included in the worldwide income shown on line 4 but which is included on the federal tax return. These will be the same entities identified in the required schedules reconciling the entries on U.S. Schedule M-3. Part 1, lines 7a and 7b. Line 7a. Enter the entity’s Federal Identification number. If the entity does not have one, enter zeros. Line 7b. Enter the code corresponding to the type of entity for U.S. tax purposes. Use the same entity type codes provided above. Line 7c. No entries should be entered in this column. Line 7d. Enter “5” if this is an “other includible entity” with net income greater than zero. Enter “6” if this is an “other includible entity” with net income of zero or less than zero. Line 7e. Enter, as a positive amount, the amount of income attributable to the entity being added to worldwide consolidated income for the tax return. Enter all losses as negative numbers. This differs from the federal instructions. Line 8. Enter the total amount of the adjustment to eliminations of transactions between includible entities and non-includible entities. This is the amount shown on U.S. Schedule M-3, Part 1, line 8. Line 9. Enter the total amount of any adjustment to reconcile the income statement period to the tax year. This is the amount shown on U.S. Schedule M-3, Part 1, line 9. Line 10. Enter the total amount of any intercompany dividend adjustments required to reconcile worldwide income as shown in line 4 to line 13. This is the amount shown on U.S. Schedule M-3, Part 1, line 10a. Line 11. Enter the total amount of any statutory accounting adjustments required to reconcile worldwide income as shown in line 4 to line 13. This is the amount shown on U.S. Schedule M-3, Part 1, line 10b. Line 12. Enter the total amount of any other adjustments to reconcile worldwide income as shown in line 4 to line 13. This is the amount shown on U.S. Schedule M-3, Part 1, line 10c. Line 13. Enter the net income or loss per income statement of includible corporations. Combine lines 4 through 12 (use column e amounts for lines 5, 6 and 7). The total must match final result of schedule M-3, Part 1 as filed with the U.S. tax return for the year (Schedule M-3, Part 1, line 11 for corporations filing U.S. Form 1120).
Extracted from PDF file 2019-massachusetts-schedule-nir.pdf, last modified December 2014

More about the Massachusetts Schedule NIR Corporate Income Tax TY 2019

*Obsolete

We last updated the Net Income Reconciliation (OBSOLETE) in April 2020, so this is the latest version of Schedule NIR, fully updated for tax year 2019. You can download or print current or past-year PDFs of Schedule NIR directly from TaxFormFinder. You can print other Massachusetts tax forms here.

Other Massachusetts Corporate 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
Schedule 3K-1 Partner's Distributive Share
Form 355S-PV Massachusetts Corporate Payment Voucher
Form 355-ES-2019 Corporate Estimated Tax Payment Vouchers
Form 3 Partnership Return
Schedule NTS-L-NR/PY No Tax Status and Limited Income 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 NIR from the Department of Revenue in April 2020.

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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 Schedule NIR

We have a total of eight past-year versions of Schedule NIR 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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