Form 4570 - 2008 Michigan Business Tax Credits For Compensation, Investment, And Research And Development - Michigan Department Of Treasury Page 2

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4570, Page 2

FEIN or TR Number

Recapture of Capital Investments

13. Enter all eligible depreciable tangible assets located in Michigan that were acquired or moved into Michigan after acquisition in a tax year

beginning after December 31, 2007, and were sold or otherwise disposed of during the tax year.

C. Date Acquired

D. Date Sold

A. Description

B. City

E. Gross Sales Price

F. Gain/Loss

(MM-DD-YYYY)

14. Total columns 13E and 13F. A loss on 14F will increase recapture ................................

14.

15. Adjusted Proceeds. If line 14F is a gain, subtract it from line 14E. If line 14F is a loss, add it to 14E ................

15.

If taxable in another state, complete lines 16 and 17; otherwise, go to line 18.

16. Apportioned gains/losses. Multiply line 14F by the percentage from Form 4567, line 10d ...................................

16.

17. Apportioned Adjusted Proceeds. If line 16 is a gain, subtract it from line 14E. If line 16 is a loss, add it to 14E

17.

18. Enter all eligible depreciable mobile tangible assets acquired in a tax year beginning after December 31, 2007,

that were sold or otherwise disposed of during the tax year.

C. Date Acquired

D. Date Sold

A. Description

B. State

E. Gross Sales Price

F. Gain/Loss

(MM-DD-YYYY)

19. Total columns 18E and 18F. A loss on 19F will increase recapture ................................

19.

20. Adjusted Proceeds. If line 19F is a gain, subtract it from 19E. If line 19F is a loss, add it to 19E .......................

20.

If taxable in another state, complete line 21; otherwise, go to line 22.

21. Apportioned Adjusted Proceeds. Multiply line 20 by percentage from Form 4567, line 10d ................................

21.

22. Enter all eligible depreciable tangible assets other than mobile property acquired in tax years beginning after

December 31, 2007, that were eligible for the Investment Tax Credit in tax years beginning after December 31, 2007,

and were transferred outside Michigan during the tax year.

C. Date Acquired

D. Date Transferred

A. Description

B. City

E. Federal Adjusted Basis

(MM-DD-YYYY)

23. Total of column 22E ...............................................................................................................................................

23.

24. Recapture of Capital Investments. Add lines 15, 20, and 23. Or, if taxable in another state,

add lines 17, 21, and 23 ........................................................................................................................................

24.

Net Capital Investments

25. Net MBT Capital Investment. Subtract line 24 from line 11 ...............................................................................

25.

26. Multiply line 25 by 2.32% (0.0232). (For tax year ending in 2009, see instructions.) ..........................................

26.

27. Net Recapture Amount from Single Business Tax Assets from Form 4585, line 7 ................................................

27.

28. Subtract line 27 from line 26. If negative, carry amount to Form 4568, line 4b ....................................................

28.

PART 3: REDUCED COMPENSATION AND INVESTMENT TAX CREDITS

29. Add lines 3 and 28. If line 28 is negative, enter amount from line 3 ......................................................................

29.

30. Tax Before Surcharge from Form 4567, line 32, or Form 4590, line 23 ................................................................

30.

31. Total SBT credit carryforward from Form 4569, line 35 ..........................................................................................

31.

32. Subtract line 31 from line 30. If less than zero, enter zero .....................................................................................

32.

33. Multiply line 32 by 50% (0.5). (For tax year ending in 2009, see instructions.) ......................................................

33.

34. Allowable Credit. Enter lesser of line 29 or line 33. Carry amount to Form 4568, line 4a (see instructions).......

34.

35. If line 28 is negative, enter amount from line 28 as a positive number...................................................................

35.

36. Tax After Compensation and Investment Tax Credit. Subtract line 34 from line 1 and add line 35 ........................

36.

PART 4: RESEARCH AND DEVELOPMENT CREDIT

37. Research and development expenses in Michigan ................................................................................................

37.

38. Multiply line 37 by 1.52% (0.0152). (For tax year ending in 2009, see instructions.) .............................................

38.

39. Multiply line 32 by 65% (0.65) ................................................................................................................................

39.

40. Ceiling for Research and Development Credit. Subtract line 34 from line 39 .......................................................

40.

41. Research and Development Credit. Enter the lesser of line 38 or line 40. Carry amount to Form 4568, line 5 ........

41.

42. Tax after Research and Development Credit. Subtract line 41 from line 36.

(This line must be equal to Form 4568, line 6.) ......................................................................................................

42.

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