Enlarge image | 2020 Schedule U-E Massachusetts Massachusetts Unitary or Department of Revenue Affiliated Group Income For calendar year 2020 or taxable period beginning 2020 and ending Name of principal reporting corporation Federal Identification number PBA code Unitary business identifier Type of group (check one only): Financial Non-financial Mixed Check if any of unitary or affiliated group income is taxable in another state Financial institution groups and mixed groups only, check the method used by the group to allocate income from investment assets and trading assets to Massachusetts Average value Gross income Part 1. Taxable Income 1 Net sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 1 2 Cost of goods sold. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 3 Gross profit. Subtract line 2 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 5 Interest income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5 6 Gross rents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 6 7 Gross royalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 7 8 Capital gains net income or loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8 9 Net gain or (loss) from Form 4797. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 9 10 Other income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 10 11 Income. Combine lines 3 through 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Total deductions for this business group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 12 13 Total net income for the combined report before Massachusetts adjustments. Subtract line 12 from line 11. . . . . . . . . . . . . . 13 14 State and municipal bond interest not included in U.S. net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 14 15 Foreign, state or local income taxes deducted from U.S. net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 15 16 Section 168(k) "bonus" depreciation adjustment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 16 17 Sections 31I and 31K intangible expense add back adjustment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 17 18 Sections 31J and 31K interest expense add back adjustment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 18 19 Reserved for future use. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 19 20 Research expense adjustment related to Massachusetts Research and Development Credit. . . . . . . . . . . . . . . . . . . . . . . 3 20 21 Subtotal of Massachusetts income before additional deductions. Combine lines 13 through 20. . . . . . . . . . . . . . . . . . . . . . . 21 22 Reserved. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 22 23 Abandoned building renovation deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 23 24 Reserved. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 24 25 95% deduction for certain other dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 25 26 Exceptions to the add back of intangible expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 26 27 Exceptions to the add back of interest expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 27 28 Adjustment for federally disallowed U.S. wage deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 28 29 Other adjustments to income or expenses (enter decreases to allowable deductions as a negative). . . . . . . . . . . . . . . . . . 3 29 30 Total Massachusetts income for the combined report. Subtract the total of lines 22 through 29 from line 21. . . . . . . . . . . . . 30 31 Net capital gain or (loss) included in line 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 31 32 Net section 1231 gain or (loss) included in line 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 32 33 Subtract the total of lines 31 and 32 from line 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 34 Excess combined group capital loss. If line 31 is “0” or greater, enter “0” (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . 3 34 35 Combined taxable net income excluding excess capital loss. Add lines 30 and 34. Do not enter less than “0”. . . . . . . . . . 3 35 36 Enter 10% of one-third of line 35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 |
Enlarge image | Part 2. Apportionment Denominators 37 Total of members’ worldwide average value of loans (financial institutions only). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 37 38 Total of members’ worldwide average value of credit card receivables (financial institutions only). . . . . . . . . . . . . . . . . . . . 3 38 39 Total of members’ worldwide group intangible financial institution property owned. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 40 Total of members’ worldwide group intangible financial institution property owned for apportionment. . . . . . . . . . . . . . . . . . . 40 41 Total of members’ worldwide group tangible property owned at cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 41 42 Total of members’ worldwide group tangible property rented. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 42 43 Total of members’ worldwide group property owned for apportionment. Combine lines 40 through 42. . . . . . . . . . . . . . . . . . 43 44 Total of members’ worldwide group wages paid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 44 45 Total of members’ worldwide receipts from lease, sublease or rental of real property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 45 46 Total of members’ worldwide receipts from lease, sublease or rental of transportation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 46 47 Worldwide receipts from lease, sublease or rental of other tangible property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 47 48 Worldwide interest (including fees and penalties) from loans secured by real property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 48 49 Worldwide interest (including fees and penalties) from loans not secured by real property. . . . . . . . . . . . . . . . . . . . . . . . . . 3 49 50 Worldwide net gain on sale of loans secured by real property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 50 51 Worldwide net gain on sale of loans not secured by real property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 51 52 Worldwide interest (include fees & penalties) on credit card receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 52 53 Worldwide net gains on sales of credit card receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 53 54 Worldwide credit card issuer's reimbursement fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 54 55 Worldwide receipts from merchant discount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 55 56 Worldwide loan servicing fees from loans secured by real property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 56 57 Worldwide loan servicing fees from loans not secured by real property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 57 58 Worldwide interest, dividends and net gains from investment and/or trading assets or activities. . . . . . . . . . . . . . . . . . . . . 3 58 59 Worldwide receipts from the sale of tangible property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 59 60 Worldwide receipts from the sales of services not included above. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 60 61 Worldwide receipts from rents and royalties not included above. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 61 62 Worldwide group “other” receipts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 62 63 Worldwide group receipts. Non-financial groups combine lines 59 through 62. Other groups combine lines 45 through 62. . . 63 |