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Massachusetts Credit 2024-2025 Form
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People also ask
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What is the Massachusetts Department of Revenue excise tax?
How are excises calculated? Massachusetts levies an excise on each vehicle at the rate of $25 per $1,000 of valuation.
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Who has to pay MA corporate excise tax?
Corporations that operate in Massachusetts are subject to Massachusetts's corporate excise tax. S corporations, on the other hand, are not generally subject to separate federal income tax. Instead, taxable income passed through to individual stakeholders.
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What is Massachusetts Department of Revenue offer in compromise?
An Offer is an agreement between you and DOR to settle a tax liability for less than the full amount owed. The reasons why DOR might accept an Offer include: You're unable to pay the full liability owed. There is serious doubt as to whether the tax can be collected.
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What is Massachusetts excise tax for?
An excise is a tax upon an event or privilege. In this case, the motor vehicle excise is imposed for the privilege of registration. It is not assessed for the use of the roads and monies collected from the excise are general fund revenues available to support municipal operations.
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What is the Massachusetts Department of Revenue?
The Department of Revenue administers the state's tax system, collecting state taxes including income, sales and use, corporate, estate, and other taxes. It offers taxpayers assistance by toll-free telephone. The department offers taxpayers assistance, audits tax returns, and enforces state tax laws.
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What is the Massachusetts Department of Revenue?
The Department of Revenue administers the state's tax system, collecting state taxes including income, sales and use, corporate, estate, and other taxes. It offers taxpayers assistance by toll-free telephone. The department offers taxpayers assistance, audits tax returns, and enforces state tax laws.
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What happens if you don't pay your excise tax in Massachusetts?
If you still fail to pay the excise, the deputy collector or collector will notify the Registrar of Motor Vehicles (RMV) within a 2 year period after the original excise bill was mailed. The RMV will then mark your license and registration as unable to be renewed.
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Why did I get a letter from Massachusetts Department of Revenue?
The Massachusetts DOR has various types of notices and bills that are issued to individuals and businesses if it is determined that additional taxes might be or are owed. Notices and bills ask for and provide information and request payment when necessary.
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