Schedule U-MSI: Member’s Apportioned Share of Group Income (2024)
Massachusetts · Massachusetts DOR · Used for tax years 2024
Massachusetts Schedule U-MSI calculates a corporation’s apportioned share of combined group taxable income. It reports Massachusetts property, payroll and sales factors, the apportionment percentage, and the corporation’s share of income, capital gains or losses, and section 1231
Who files this form
Schedule U-MSI reports a member corporation’s apportioned share of combined group income. The form has tax-type choices for financial institutions and business corporations, and group-type choices for financial, non-financial, and mixed groups.
The supplied form does not state the specific conditions that require a member to file this schedule.
What you'll need
Have these details and figures available to complete the schedule:
- The member’s name and federal identification number.
- The principal reporting corporation’s name and federal identification number, plus the unitary business identifier.
- The member’s tax type, the group type, and the taxable period.
- Applicable Massachusetts property, wages, sales, and other receipts figures requested on the form.
- Schedule U-E, which supplies the combined group’s worldwide property, wages, and sales totals, along with income excluding capital gains from line 33, capital gains or losses from line 31, and section 1231 gains or losses from line 32.
- An explanation if the method of calculating one or more factors changed from the prior 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.
Common mistakes
- Sending a paper return: The form is marked “E-File Only” and warns that paper returns will not be accepted.
Questions people ask
What if a factor calculation method changed from the prior year?
Check line 3 and explain the change in the space provided.
Where do the combined group’s worldwide totals come from?
Use Schedule U-E for worldwide property on line 9, worldwide wages on line 12, and worldwide sales on line 22.
How should I enter the apportionment factors and percentage?
The form asks for decimals on line 10 for the property factor, line 13 for the payroll factor, line 23 for the sales factor, and line 27 for the apportionment or allocation percentage.
What does line 5 require for a mixed group?
For a mixed group, the form directs you to enter 20% of line 4 on line 5. Line 4 is the member’s Massachusetts financial institution property owned and is for financial institutions only.