The Massachusetts Department of Revenue has released the following 2011 Corporate 355U tax forms.
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- Combined Reporting General Instructions
- Form 355U , Excise for Taxpayers Subject to Combined Filing
- Form 355U Instructions (edited 10-22-12, page 4)
- Schedule U-M , Member's Income and Expenses
- Schedule U-M Instructions
- Schedule U-CI , Combined Income
- Schedule U-CI Instructions
- Schedule U-CS , Credit Shared From Other Members
- Schedule U-CS Instructions
- Schedule U-E , Massachusetts Unitary or Affiliated Group Income
- Schedule U-E Instructions
- Schedule U-NI , Summary of All Group Net Income
- Schedule U-NI Instructions
- Schedule U-MSI , Member's Apportioned Share of Group Income
- Schedule U-MSI Instructions
- Schedule U-DRD , Member's Dividend Deduction
- Schedule U-DRD Instructions
- Schedule U-ST , Member's Separate Income Tax
- Schedule U-ST Instructions
- Schedule U-MTI , Member's Non-Unitary Taxable Income
- Schedule U-MTI Instructions
- Schedule U-NOL , Member's Net Operating Loss Carryover
- Schedule U-NOL Instructions
- Schedule U-NOLS , Member's Shared Loss Carryover
- Schedule U-NOLS Instructions
- Schedule U-IC , Member's Individual Credits
- Schedule U-IC Instructions
- Schedule CG , Combined Reporting Allocation Schedule
- Schedule CG Instructions
- Schedule CIR , Consolidated Return Income Reconciliation
- Schedule CIR Instructions
- Schedule NIR , Net Income Reconciliation
- Schedule NIR Instructions
- Schedule U-RF , Refundable Credits
- Schedule U-RF Instructions
- Schedule TTP , Taxpayer Treaty Position
- Schedule TTP Instructions
- Schedule DRE , Disclosure of Disregarded Entity
- Schedule DRE Instructions
- Schedule FE , Report with Respect to Foreign Entities (edited 1-23-12)
- Schedule FE Instructions (edited 1-10-12)
- Schedule U-INS , Payment to Insurance Companies under Common Ownership (edited 1-6-12)
- Schedule U-INS Instructions
- Schedule U-TM , Tax by Member
- Schedule U-TM Instructions
2011 Corporate Drafts Change Log (Unitary Filers)
A major change for the current year is the addition of the non-income measure of excise to Form 355U. A business corporation will only file a separate form 355 or 355S to calculate its non-income measure of excise if its separate federal taxable year ends at a different time than the common year used to determined combined group income. A Massachusetts S corporation that is included in a 355U will also continue to file form 355S but that return will be informational only and will include Schedules SK-1.
Note that obvious year end updates (plus one) and reference updates are highlighted on the PDFs but not listed in this change log
Line 16 is new and subsequent lines (17 - 32} have been renumbered.
Line 32 from the 2010 version deleted.
Reduced in size from 2 pages to 1.
On the 2011 version, the lines numbered 1, 2, 3, 40, 41, 43 and 45 which appeared on the 2010 version have been deleted.
Subsequent lines and references have been updated.
Checkboxes in header for taxable member added.
Checkboxes in header for group election moved.
Checkbox for consolidated U.S. 1120 which was on the 2010 version (4 th line of header) has been deleted.
Above line 36 (2nd prior tax year section) the check off box has been changed from355C to 355U.
New line 5 added to capture the Conservation Land Credit (number and amount).
Old line number 5 renumbered as number 6.
The schedule has been renamed "Member's Separate Computation of Tax."
Lines 2 and 3 of header rearranged and expanded.
Line 2 text is new.
From the 2010 version, lines 8 and 9 have been deleted.
Lines 8 through 30 have been renumbered. They were numbered 10 through 32 on the 2010 version (minus 2).
Lines 31 through 35 (2011 version) are new.
Lines 36 through 43 have been renumbered. They were numbered 33 through 40 on the 2010 version (plus 3).
Line 37 has a text change.
Part 1, lines 8 and 9 deleted.
Part 2, renamed and rewritten.
Part 4 (each member), line 8 deleted.
(Formerly Schedule U-TTP)
Header has minor text change and an additional line (highlighted).
The income exclusions and combined filer sections of the schedule are collecting the same basic information as the 2010 Schedule U-TTP but the schedule has been reformatted and is no longer exclusive to the 355U filer.
The following 4 schedules are new for tax year 2011.
Instructions will follow.
Disclosure of Disregarded Entity
Report with Respect to Foreign Entities
Payment to Insurance Companies under Common Ownership
Tax by Member
Line 1: Text change.
Line 2: This line has been rewritten to achieve a different purpose from the prior version.
Line 3: Reference changed from 1a to1c.
Lines 19 and 20: “See instructions” deleted.