The state of Massachusetts grants you an automatic extension for filing the return if you were approved for a federal extension. In case your business owes state tax and the federal extension is not approved, you must make payment and submit the state extension Form 355-7004, to avoid penalty and get an automatic extension for 6 months.
Due date and penalty
For fiscal year taxpayers, the due date for paying tax due, filing return/extension is by the 15th day of the 3rd month following the end of a tax period. For calendar year taxpayers, the due date is March 15.
If you fail to pay the tax due on time, the Massachusetts Department of Revenue will impose a penalty on unpaid tax at the rate of 0.5% per month on the tax due which can increase up to a maximum of 25%.
Payment of tax dues
For paying the tax due, include the Check or Money order with the state extension tax Form 355-7004 (Application for Corporate Extension) and mail it to the Department of Revenue, Massachusetts.
To pay electronically, check out the payment options available.
|Tax Type||State Tax Form||Due date (Fiscal year)||Due date (Calendar year)||Extension Period||State tax Payment form|
|Corporate Excise Tax||Form 355||15th day of the 3rd month||March 15||6 months||Form 355-7004|
For more information on business state tax extension, click here