121A: Urban Redevelopment Excise Return (2024)
Massachusetts · Massachusetts DOR · Used for tax years 2024
Massachusetts Form 121A is the 2024 Urban Redevelopment Excise Return under Chapter 121A, section 10. It reports gross income, property values, excise due, prior payments, and any refund or balance due. The return must be filed electronically; paper returns are not accepted.
What you'll need
Have the information needed to complete the form ready:
- Taxpayer name, federal identification number, address, phone number, and principal office location in Massachusetts.
- Project name, DOR project identification number, address, and approval and completion dates.
- Entity type, date of charter or organization, and the name and title of the person who keeps the taxpayer’s books.
- Gross income from all sources in 2024.
- The assessors’ certified fair cash value of owned and leased real and tangible personal property exempt from local taxation as of January 1, 2025.
- Assessed values of that property for the last three years it was subject to local taxation, less abatements, and the fiscal year 2025 local tax rate.
- Previous payments and any governmental payments to or on behalf of tenants that were in addition to payments made by those tenants.
How to file
File the 2024 Form 121A electronically. Paper returns will not be accepted.
For questions about electronic filing, call 617-887-6367. The form points to the DOR electronic filing and payment requirements and TIRs 16-9 and 21-9 for more information.
Use the whole dollar method for the excise computation. Complete the declaration and signature fields, including the paid preparer fields if applicable.
Common mistakes
- Sending a paper return. The form specifically warns that electronic filing is required and paper returns will not be accepted.
Questions people ask
How is the excise calculated?
The form adds 5% of gross income from all sources in 2024 to $10 per $1,000 of the property value on line 2a. It then compares that total with the minimum excise on line 7. Enter the larger amount as the excise due on line 8.
What property valuation date does the 2024 return use?
Line 2a uses the fair cash value as of January 1, 2025, as certified by assessors, for owned and leased real and tangible personal property exempt from local taxation.
What if the federal government changed my taxable income for a prior year?
If the change has not yet been reported to Massachusetts, mark the relevant box on page 1 and file an amended return for each year not reported.
Can I contribute to endangered wildlife conservation on this return?
Yes. Line 9 allows a voluntary contribution for endangered wildlife conservation. Add it to the excise due on line 10.