Screen MAUCD - Massachusetts Member's Tangible Property (1120)

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Overview

For combined members that are subject to the non-income measure of excise tax, use this screen to complete Schedule C, Tangible Property Corporation. To enable this screen, you must mark the
Principal reporting corporation
checkbox in the Massachusetts tab of the Client Properties dialog in the principal reporting corporation client only.
This screen is a multiple-unit input screen. The first unit of the input screen is always for the principal reporting corporation responsible for filing the unitary return for the group. A separate unit of the unitary input screens should be added for each affiliated corporation. For each affiliate, a unique unit number is assigned to the input screens in the Unitary folder.
The application enables you to share Massachusetts Combined Return information from the affiliate returns to the principal reporting corporation’s return for members of a unitary group. For each affiliate to share data with the principal reporting corporation filing Form 355U for the unitary group, you must enter the principal reporting corporation EIN in the Massachusetts tab of the Client Properties dialog. Do not mark the
Principal reporting corporation
checkbox. You must print preview each affiliate’s return to store combined return information for data sharing.

Schedule C - Tangible Property

Certified Massachusetts industrial waste or air treatment facilities / solar or wind power deduction
Use these fields to enter the deduction amounts for industrial waste or air treatment facilities and solar or wind power. The application automatically determines whether a member is a tangible or intangible property corporation:
  • If the member is a tangible property corporation, the application uses the amounts entered in these fields when it completes Schedule C.
  • If the member is an intangible property corporation, the application disregards any amounts entered in these fields.

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