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Rev. 9/01 Massachusetts Form 355SV Taxation of Ships and Vessels Department of Revenue Return relative to the taxation of ships and vessels engaged in interstate or foreign carrying trade and documented vessels engaged exclusively in fishing.

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Corporate Excise: Basic Structure Gross Receipts or SalesequalsMassachusetts Taxable IncomeTaxable Massachusetts Tangible Property or Net WorthApplyApplyTax Rate (9.5% or respective S-corp rates)Tax Rate of 0.26%30 more rows

An S corporation financial institution is taxed at 9.0% on any income that is taxable at the federal level. An S corporation financial institution with gross receipts that are $6 million or more but less than $9 million is subject to the corporate excise at a rate of 2.67% on net income subject to tax.

Massachusetts Tax Rates, Collections, and Burdens Massachusetts has an 8.00 percent corporate income tax rate. Massachusetts has a 6.25 percent state sales tax rate and does not levy local sales taxes.

Two parts make up the excise tax regulations for Massachusetts corporations and LLC's. First, there is a 0.26 percent tax on tangible property, and second, there is an 8.75 percent tax on net income.

What is the tax rate for S corporations? The annual tax for S corporations is the greater of 1.5% of the corporation's net income or $800. Note: As of January 1, 2000, newly incorporated or qualified corporations are exempt from the annual minimum franchise tax for their first year of business. (See below.)

All corporations and financial institutions that reasonably estimate their excise to be in excess of $1,000 for the taxable year are required to make estimated payments. Form 355-ES, 2022 Corporate Estimated Tax Payment Instructions and Worksheet.

How much does it cost to form a corporation in Massachusetts? You can register your business name with the Massachusetts Secretary of the Commonwealth Corporations Division for $30. To file your Articles of Incorporation, the Massachusetts Secretary of the Commonwealth Corporations Division charges a $275 filing fee.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232