Screen MATPW - Massachusetts Tax Projection (1120)

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Overview

Use this screen to enter information you expect to be different for the next tax year. The application uses this data to calculate the Massachusetts Tax Projection Worksheet. This worksheet is based on current law and next year’s tax law differences (when known). Enter only the items you expect to be different for the coming year. If you do not expect a difference, leave the field blank to allow the current-year amount to automatically transfer to the next-year column of the Massachusetts Tax Projection Worksheet. However, fields that are marked with an asterisk (*) in Screen MATPW will not automatically transfer the current year amount.

Excise Tax

Tangible property tax (Force)
The application automatically calculates the tangible property tax for next year by applying the current year tax rates to the projected taxable Massachusetts tangible property. Use this field to override this calculated amount, if needed.
Net worth tax (Force)
The application automatically calculates the net worth tax for next year by applying the current year tax rates to the projected taxable net worth. Use this field to override this calculated amount, if needed.
Income tax (Force)
The application automatically calculates the income tax for next year by applying the current year tax rates to the projected taxable income. Use this field to override this calculated amount, if needed.

Security Corporation Excise Tax

Excise before credits (Force)
The application automatically calculates the excise before credits for next year by applying the current year tax rates to the projected taxable income. Use this field to override this calculated amount, if needed.

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