Annual Report By Telephone Companies Form - Michigan Department Of Treasury - 2004 Page 12

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Instructions
Public Act 50 of 2002 provides that companies which are assessed by the State Board of Assessors under the authority of PA 282 of
1905 may receive a credit against the 2005 tax imposed by the act. This credit is equal to 9 percent of eligible expenditures made in the
prior calendar year, limited to the greater of 9 percent of the total tax liability under PA 282 of 1905 and 100 percent of the 2004
credit. In order to receive the credit, this form shall be filed with the State Board of Assessors in accordance with the following
schedule:
1. Companies whose gross receipts do not exceed $1,000,000 shall file on or before March 15, 2005.
2. Companies whose gross receipts exceed $1,000,000 shall file on or before March 31, 2005.
The law defines "Eligible Expenditures" as follows:
"Eligible Expenditures" means expenditures made by a company to purchase and install eligible equipment after December
31, 2001.
"Eligible Equipment" means property placed into service in the state for the first time with information carrying capacity in
excess of 200 kilobits per second in both directions.
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Parent category: Financial