How to Change the Fiscal Year for a Corporation in Massachusetts

By Tom Streissguth

If you decide to change a fiscal year for your Massachusetts corporation, and the change involves an amendment to your company's articles of organization, you must submit the change to a vote of shareholders. In Massachusetts, the law requires a majority vote of stockholders for any change in the articles of organization. You must also notify the state's revenue department, if you are operating a non-profit corporation.

Step 1

Complete IRS Form 1128, Application To Adopt, Change, or Retain a Tax Year. Any type of Massachusetts business entity, including individuals, partnerships, LLCs, corporations, cooperatives and non-profits, can use this form. Give the IRS the ending date of the new tax year in Section 2. On the second page of the form, you may request automatic approval of the request under certain circumstances. If the application is approved, you have to file Form 990, for a short-year corporate tax return.

Step 2

Obtain a Certificate of Change of Fiscal Year End from the Commissioner of Revenue, 1 Ashburton Place, Boston, Massachusetts 02108-1512. This form is for non-profit corporations and is also available on the Massachusetts Secretary of State website. You must include the new fiscal-year end date and the corporation's principle business address. Return it to the Commissioner of Revenue for written permission to change your fiscal year.

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Step 3

Obtain Form 13, Notice of Designation of Fiscal Year End from the Massachusetts Department of Revenue if you are representing a newly organized for-profit corporation. Fill in the requested information, including the business name and address, as well as the proposed new fiscal year-end, and mail the form to Massachusetts Department of Revenue, 200 Arlington Street, Room 4300, Chelsea, MA 02150.

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References

Related articles

Tax-Exempt Status in Massachusetts

Massachusetts exempts certain nonprofits from having to pay corporate income, property and sales taxes. In order to qualify, your nonprofit must be formed under the state incorporation statute and must obtain federal tax-exempt status from the IRS. After the nonprofit is designated as exempt by the IRS, Massachusetts requires additional filings for each type of tax in which you seek a state exemption.

Does a Nonprofit Report to the State When the Board Members Change?

State law determines whether a nonprofit must notify its state regulatory agency, usually the Secretary of State, of changes to its board of directors. Some states explicitly require notification of board member changes while others don't require notice at all.

How Can a Nonprofit Change Its Name?

A nonprofit is organized under state law as either a corporation or an unincorporated association. A corporation, the most common structure, has strict organizational, reporting and registration requirements. An unincorporated association is an informal group of two or more people working for social good. For both forms, changing the nonprofit organization's name requires the approval of the people who run the nonprofit or its members. A name change can have repercussions that affect donors and fundraising.

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