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Posted by Mark X. Rigotti, CPA on February 2, 2007, 1:51 am
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> The Commonwealth of Taxachusetts requires our little "S
> corp" to file it's annual corporate exise tax return (Form
> 355S) as an e-filing, or suffer a $100 penalty if we mail in
> a paper return. (That's in addition to the $455 "minimum
> excise tax" we have to pay the Commonwealth every year.)
>
> The paper form has only about 20 places where I need to
> enter numbers, but the Commonwealth doesn't provide an
> online form to enter that data as they do with the payroll
> witholding and sales taxes forms we do as e-filings.
>
> Per the Commonwealth's Department of Revenue we and the
> thousands of other S corporations here have to use software
> from an "approved vendor" to make our filings with.
>
> I called several of the vendors on the "approved list" and
> got prices from $275 and up for software to file that
> return, good for this year only.
>
> Obviously, the cheapest route is to just pay the $100
> penalty for submitting a paper filing, since I doubt that
> any CPA owning the right software could be expected to do an
> e-file for us for less than that.
>
> Have I overlooked a way that would cost us less less than a
> hundred bucks to file that simple return?
MI basically has had the same requirement for several years.
Since you allude to using a CPA let them do it. My vendor
charges me $3 per return (fed and state) for businesses. I
bill my clients $10 for this so I make a wopping $4. Let
them do it.
Regards,
Mark Rigotti
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