Form C-8000c - Michigan Sbt Credit For Small Businesses And Contribution Credits - 2001
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1
2Michigan Department of Treasury
2001
(Rev. 07-01)
2001 MICHIGAN
C-8000C
SBT Credit for Small Businesses and
Contribution Credits
Form Code 2
This form is issued under authority of P.A. 228 of 1975. See instruction booklet for filing guidelines.
1 Name
2 Federal Employer ID No. (FEIN) or TR No.
YOUR TAX and CREDIT FOR SMALL BUSINESSES
The standard small business credit and the alternate tax are NOT available if any of the following conditions exist:
1)
Gross receipts exceed $10,000,000; or
3)
Any shareholder or officer has compensation or allocated
2)
Adjusted business income after loss adjustment
income after loss adjustment of over $115,000, or any partner
exceeds:
has distributive share of income after loss adjustment of over
a. $475,000 for corporations, partnerships and L.L.C.'s
$115,000, as determined on C-8000KC or C-8000KP. Form
b. $115,000 for an individual or fiduciary; or
C-8000KC or C-8000KP must be attached.
Members of controlled groups must attach a copy of SBT Allocation of Statutory Exemption,
Note:
Standard Small Business Credit, and Alternate Tax for Members of Controlled Groups (Form C-8009).
If you are not claiming a small business credit but have contribution credits, go to line 28.
PART 1 ADJUSTED BUSINESS INCOME
.00
3
Business income from C-8000, line 11
3
.00
4
Capital loss carryover or carryback from C-8000, line 21
4
4
.00
5
Net operating loss carryover or carryback from C-8000, line 22
4
5
.00
6
Subtotal. Add lines 3, 4 and 5
6
.00
7
Compensation and director fees of active shareholders from C-8000KC, line 6
4
7
.00
8
Compensation and director fees of officers from C-8000KC, line 7
4
8
.00
9
Adjusted business income. Add lines 6, 7 and 8. If less than zero, enter 100% on line 13
9
PART 2 SMALL BUSINESS CREDIT
.00
10
Tax base from C-8000, line 32
10
.00
11
Tax base for credit. Multiply line 10 by 45% (.45)
11
12
Income percentage. Divide line 9 by line 11 and
%
multiply by 100 to find percentage
12
13
Credit percentage. Subtract line 12 from 100%. If this is a negative number, i.e.,
%
if line 9 exceeds line 11, you are not eligible for this credit. Go to line 16 to calculate alternate tax.
13
(not to exceed 100%)
$
.00
14
Tax from C-8000, line 44
TAX
14
.00
15
Standard Small Business Credit. Multiply line 13 by line 14
15
.00
16
Alternate tax. Multiply line 9 by 2% (.02)
16
.00
17
Alternate Credit. Subtract line 16 from line 14
17
.00
18a
Small business credit. Enter the greater of line 15 or 17
18a
b
Reduced small business credit. Use the Reduced Credit
Table on page 22 to find your reduced credit %.
.00
Multiply line 18a by _____%
18b
.00
19
Tax after small business credit. Subtract line 18a or 18b, whichever is applicable, from line 14
4
19
If your gross receipts are equal to or less than $9 million and you are not claiming contribution
credits, enter the amount on line 19 on your C-8000, line 45. Otherwise, go to page 2.
Continue on page 2.
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