Schedule U-IC: Member’s Individual Credits (2025)
Massachusetts · Massachusetts DOR · Used for tax years 2025
Massachusetts Schedule U-IC reports a member corporation’s own credits and credits from other members used against its excise. It separately reports credits subject to a 50% limitation, Massachusetts research credits, other credits, and corporate excise withheld.
Who files this form
Schedule U-IC is the member’s individual credits schedule for reporting credits used against its Massachusetts excise, including its own credits and credits from other members. The form lists two tax types: financial institution and business corporation.
What you'll need
Have the following information available to complete the schedule:
- The member’s Schedule U-ST, line 37, for the total excise entered on line 1.
- Schedule 63-WH, line 14, for corporate excise withheld entered on line 13.
- Amounts of the member’s own credits and credits from other members used against its excise, separated into the credit categories shown on the form.
- The member’s name, federal identification number and tax type.
- The principal reporting corporation’s name and federal identification number.
- The member’s taxable period and the end date of the group’s tax year.
How to file
File electronically. The form states that paper returns will not be accepted.
For questions about electronic filing, call 617-887-6367. See the Massachusetts Department of Revenue’s electronic filing and payment requirements for more information. The form also refers filers to TIRs 16-9 and 21-9.
Common mistakes
- Submitting a paper return: The form warns that electronic filing is required and paper returns will not be accepted.
Questions people ask
What tax year does this schedule cover?
This is the 2025 schedule. It covers calendar year 2025 or a taxable period beginning in 2025, with spaces to enter the beginning and ending dates.
Which credits are listed as subject to the 50% limitation?
The form lists BRWFLD, EDIPCR, EOACC, INVTAX, VACSTR and VANPOL credits in that category. Lines 2 and 3 separate the member’s own credits from credits of other members. Line 4 combines those amounts.
Where do I report Massachusetts research credits?
Report the member’s own section 38M credits used against its excise on line 5 and section 38M credits from other members on line 6. Combine them on line 7.
How do I total my own credits and credits from other members?
For the member’s own credits, combine lines 2, 5 and 8 on line 11. For credits from other members, combine lines 3, 6 and 9 on line 12.