MA Form 63D-ELT, Entity Level Tax
- Article Type:
- Documentation
- Last Modified:
- 02/27/2023
Objectives
Questions and Answers about MA PTE
Environment
Scorp
Details
Form Name
63D-ELT
Election for PTE
- Is an Election Required? Yes
- Made when? Election is make when filing.
- Good for? It's an annual election. Needs to be made every year.
- How do they make this election?
Check a box on Massachusetts > Other > Entity Level Tax > Mark if passthrough entity has elected to pay tax at the entity level (Interview Form MA45, Box 30) or Common State/City > State PTE Generation > Massachusetts (Interview Form PTE-ST1, Box 122)
- Separate Form needed? M-2210 for Underpayment of Estimates.
- Option to Opt-Out? Don't check to box to elect for it.
Generation of State PTE Return
- How do you generate the form above? Check a box on Massachusetts > Other > Entity Level Tax > Mark if passthrough entity has elected to pay tax at the entity level (Interview Form MA45, Box 30) or Common State/City > State PTE Generation > Massachusetts (Interview Form PTE-ST1, Box 122)
- Is this a separate filing from the main form, part of the main form, or filed on it's own? This is main form that can be filed on it's own.
Estimates
- Are there estimates for this form? Yes, but the client enters what they want their estimate payment to be.
- How do we generate them? The information that they enter flows to the letters.
- Can you apply an overpayment from the current year form? if the clients apply it to the amount that they have entered.
Interest/Penalties
- Do interest/penalties apply? Yes
- If yes, how do we request the calculation? Payments/Penalties/Estimates > Penalties > State/City Late Interest and Penalties > with code MA6 for Entity Code (Interview Form PEN-1, Boxes 40 - 43 with code MA6 is Box 30)
- Is there an underpayment penalty? Yes, Form M-2210
Additional PTE Information
- Does this section apply to this state? Yes
- If yes, what information is required here to complete return? Information for the 63D-ELT comes from the SK-1 for the members that are being included in the Pass-Through Entity Tax.
63D-ELT
Election for PTE
- Is an Election Required? Yes
- Made when? Election is make when filing.
- Good for? It's an annual election. Needs to be made every year.
- How do they make this election?
Check a box on Massachusetts > Other > Entity Level Tax > Mark if passthrough entity has elected to pay tax at the entity level (Interview Form MA45, Box 30) or Common State/City > State PTE Generation > Massachusetts (Interview Form PTE-ST1, Box 122)
- Separate Form needed? M-2210 for Underpayment of Estimates.
- Option to Opt-Out? Don't check to box to elect for it.
Generation of State PTE Return
- How do you generate the form above? Check a box on Massachusetts > Other > Entity Level Tax > Mark if passthrough entity has elected to pay tax at the entity level (Interview Form MA45, Box 30) or Common State/City > State PTE Generation > Massachusetts (Interview Form PTE-ST1, Box 122)
- Is this a separate filing from the main form, part of the main form, or filed on it's own? This is main form that can be filed on it's own.
Estimates
- Are there estimates for this form? Yes, but the client enters what they want their estimate payment to be.
- How do we generate them? The information that they enter flows to the letters.
- Can you apply an overpayment from the current year form? if the clients apply it to the amount that they have entered.
Interest/Penalties
- Do interest/penalties apply? Yes
- If yes, how do we request the calculation? Payments/Penalties/Estimates > Penalties > State/City Late Interest and Penalties > with code MA6 for Entity Code (Interview Form PEN-1, Boxes 40 - 43 with code MA6 is Box 30)
- Is there an underpayment penalty? Yes, Form M-2210
Additional PTE Information
- Does this section apply to this state? Yes
- If yes, what information is required here to complete return? Information for the 63D-ELT comes from the SK-1 for the members that are being included in the Pass-Through Entity Tax.
Additional Information
N/A
| Solution Id | 000259666/MA-Form-63D-ELT-Entity-Level-Tax |
|---|---|
| Direct Link |
