Form 4594 - Michigan Farmland Preservation Tax Credit

Form 4594 - Michigan Farmland Preservation Tax Credit - 2016 Page 2

4594, Page 2

FEIN or TR No.

21. If lines 13 or 18 are checked, enter taxes from line 19, column D, on land enrolled after

December 31, 1977. Otherwise, enter zero ...............................................................................................

21.

22. Taxes from line 19, column D, on land enrolled before January 1, 1978 ..............................................

22.

23. Taxes qualifying for credit. Add lines 21 and 22 ...................................................................................

23.

PART 3: TAXES THAT CANNOT BE CLAIMED FOR CREDIT

24. Amount from Form 4567, line 47 ...........................................................................................................

24.

25. Depletion allowance claimed on your federal income tax return ..........................................................

25.

26. Compensation of shareholders..............................................................................................................

26.

27. Total. Add lines 24 through 26. If less than zero, enter zero .................................................................

27.

28. Taxes that cannot be claimed for credit. Multiply line 27 by 3.5% (0.035) ............................................

28.

PART 4: CREDIT

29. Farmland Preservation Tax Credit. Subtract line 28 from line 23. If line 28 is greater than line 23,

enter zero. Enter this amount on Form 4574, line 15 .............................................................................

29.

0000 2016 93 02 27 0

Form 4594 - Michigan Farmland Preservation Tax Credit - 2016 Page 2