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Shareholder Information > Massachusetts tab
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Use the state tabs in the
Shareholder Information
window to enter state-specific information for shareholders. State tabs appear only if you've added states to the return.To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
window, then the state tab.Fields and buttons — Massachusetts information group box
Nonresident filer
If the shareholder is a nonresident or pass-through entity, enter a code from the following table or select the code from the dropdown list to indicate the type of filing to be made by the shareholder. If the shareholder is a nonresident or pass-through entity, UltraTax CS defaults to marking the shareholder's declaration election code on Schedule SK-1, Page 3 as Withholding.
Code | Description |
|---|---|
1 | Withholding (default) .When a code is not selected from the dropdown list, this is the default filing for nonresident and pass-through entity shareholders. Select this option to indicate the shareholder is subject to withholding. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3, as Withholding and completes the withholding amount on Schedule SK-1, Page 3 with the amount entered in Withholding amount in the Withholding information group box. |
2 | Composite filer .Select 2 to indicate the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes Form MA NRCR for participating nonresident shareholders and marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Composite. |
3 | Nonresident individual filing own return .Select 3 to indicate the shareholder is exempt from withholding because the shareholder is a nonresident individual and agrees to file all required tax returns and make quarterly estimated tax payments as required by the state. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Member self-file. |
4 | Pass-through entity, trust or estate filing a return Select 4 to indicate the shareholder is exempt from withholding because the shareholder is a pass-through entity trust, estate, or custodial account and agrees to file all required tax returns and make quarterly tax or withholding payments as appropriate. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Member self-file. |
5 | Pass-through entity, all members exempt from withholding Select 5 to indicate the shareholder is exempt from withholding because the shareholder is a pass-through entity and all the shareholder's members are exempt from withholding. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Exempt PTE. |
6 | Pass-through entity's only source of distributive income Select this 6 to indicate the shareholder is exempt from withholding because the shareholder is a pass-through entity and has no Massachusetts source distributive share, other than from this corporation and this corporation has agreed to accept exemption certificates from or withhold directly on the shareholder's members. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Exempt PTE. |
Form PTE-EX was filed
Mark this checkbox if the corporation is exempt from nonresident withholding and Form PTE-EX was filed in a previous year. If this checkbox is marked, UltraTax CS does not calculate and print Form PTE-EX for this shareholder.
Bank
Mark this checkbox if the corporation is a bank. If this checkbox is marked, UltraTax CS marks the Bank checkbox for the type of shareholder on Schedule SK-1, Page 1.
Separate deductions
UltraTax CS allocates the amount entered in
Portfolio deductions
and Other separately stated deductions
in the MAS
screen among the shareholders, based on their respective ownership percentages. For shareholders whose allocations are different from those calculated by UltraTax CS, use the statement to enter the allocated amounts. UltraTax CS replaces the calculated amounts with the amounts you enter in the statement.If you use data sharing or are calculating the shareholder basis worksheets, indicate the type of deduction by entering one of the codes listed in the following table or choosing from the dropdown list.
Code | Description |
|---|---|
2 | Portfolio deductions |
3 | Section 179 deduction |
Supplemental information
Use this statement for supplemental information specific to each shareholder and for items that are not pro rata. If you have pro rata items that need to be reported to each shareholder, use Section A on the
MAKSep
screen. UltraTax CS prints the information you enter in this statement in the Schedule SK-1 statements.Fields and buttons — Composite return group box
Estimated payments
Enter the amount of estimated payments made by the corporation for this shareholder. UltraTax CS reports this amount on Schedule SK-1, Page 3.
Credit for amount of estimates paid by lower-tier entity
Enter the amount of estimated payments made by a lower-tier entity in which the corporation is a member and for which this shareholder gets a share on Schedule SK-1, Page 3.
Fields and buttons — Withholding information group box
Withholding amount
Enter the amount of nonresident withholding paid by the corporation for this shareholder. UltraTax CS reports this amount on Schedule SK-1, Page 3.
Credit for amounts withheld by lower-tier entity
Enter the amount of nonresident withholding paid by a lower-tier entity in which the corporation is a member and for which this shareholder gets a share on Schedule SK-1, Page 3.
Fields and buttons — Shareholder Basis group box
Date
Enter the federal basis date if other than 12/31/85.
Number of shares
Enter the number of shareholder's shares.
Amount
Enter the amount of the shareholder's federal basis.
Shareholder basis button
Enter Massachusetts shareholder basis information.