355: Business_Manufacturing Corporation Excise Return (2025)
Massachusetts · Massachusetts DOR · Used for tax years 2025
Massachusetts Form 355 is the 2025 Business/Manufacturing Corporation Excise Return. It reports taxable tangible property or net worth, Massachusetts taxable income, credits, payments, and the resulting excise due or overpayment. This return must be filed electronically; paper re
What you'll need
Have the following information ready to complete the return:
- The corporation’s federal identification number (FID), business addresses, principal business code from its U.S. return, and employee counts.
- U.S. Form 1120 figures for gross receipts or sales, gross profit, other deductions, and net income.
- Balance sheet information for Schedule A, including assets, depreciation and amortization, liabilities, and capital.
- Amounts for estimated tax payments, prior-year overpayments applied to this year, extension payments, withholding, and credits, as applicable.
The form calls for these supporting forms or schedules when applicable:
- Form AA-1 for a request for alternative apportionment.
- Credit Recapture Schedule and Credit Manager Schedule.
- Schedule 63-WH for corporate excise withheld.
- Schedule ABIE or Schedule ABI for exceptions to expense add backs.
- Schedule NOL for a net operating loss deduction.
- A schedule showing dividend payers, amounts, and the percentage of voting stock owned by class of stock for Schedule E-1.
How to file
File the 2025 Form 355 electronically. Paper returns will not be accepted.
For information about electronic filing and payment requirements, visit the Massachusetts DOR electronic filing and payment requirements page. For questions about filing electronically, call 617-887-6367.
Calendar-year filers enter 01-01-2025 as the beginning date and 12-31-2025 as the ending date. Fiscal-year filers enter their appropriate dates.
The return includes a declaration that the return and enclosures are true, correct, and complete, and calls for the signature of an appropriate officer.
Common mistakes
- Sending a paper return. Form 355 is e-file only, and paper returns will not be accepted.
- Leaving Schedule A unfinished. The form reminds filers to continue Schedule A on its second page.
- Prorating the minimum excise. The form states that the minimum excise cannot be prorated.
- Counting a prior-year overpayment twice. Do not include the amount on excise calculation line 14 in estimated payments on line 15.
- Using line 17 on an original return. The payment-with-original-return line is only for an amended return.
- Entering a negative amount where zero is the minimum. For example, excise calculation line 3 and Schedule C, line 4 must not be less than zero.
Questions people ask
Can I mail a paper Form 355?
No. The form must be filed electronically. Paper returns will not be accepted.
Do I complete Schedule C or Schedule D?
Complete Schedule C if the tangible property percentage on Schedule B, line 15 is 10% or more. Complete Schedule D if it is less than 10%.
Can I receive a refund or apply an overpayment to next year?
The form provides line 22 for the overpayment to be credited to next year. Line 23 shows the amount to be refunded, calculated by subtracting line 22 from the total overpayment on line 21.
What digital asset activity does the form ask about?
Line 18 asks whether, at any time during the year, the corporation received a digital asset as a reward or payment for property or services, or sold, exchanged, or otherwise disposed of a digital asset or a financial interest in one.
Can DOR discuss the return with my paid preparer?
The form has a field to fill in if DOR may discuss the return with the paid preparer.