Instructions For Michigan Business Tax (Mbt) Election Of Refund Or Carryforward Of Credits Form 4584 (Page 4 of 5) in pdf

Line 60: For tax years ending after December 31, 2014,

program is assigned to MEGA. For more information on the

this credit is no longer available. However, unused credit

approval process, contact the MEDC at (517) 373-9808.

carryforward from the immediately preceding tax year may

Line 38: Enter tax liability before Brownfield Redevelopment

still be claimed on line 57, if available.

Credit from Form 4573, line 55, or Form 4596, line 19.

Line 63: Enter the amount from line 59. This is the MEGA

Line 39: Recapture. The disposal or transfer to another

Plug-In Traction Battery Manufacturing Credit carryforward to

location of personal property used to calculate this credit will

be used on the taxpayer’s next MBT return.

result in an addition to the tax liability of the qualified taxpayer

that was originally awarded the credit in the year in which

Anchor Company Payroll Credit

the disposal or transfer occurs. This is true even if the credit

was assigned to someone else. This additional liability will

The Anchor Company Payroll Credit is available for a qualified

be calculated by multiplying the same percentage as is used

taxpayer that was designated by MEGA as an anchor company

to calculate the credit (e.g., 10 percent) times the federal basis

within the last five years and that has influenced a new

of the property used to calculate gain or loss [as calculated for

qualified supplier or customer to open, locate, or expand in

federal purposes] as of the date of the disposition or transfer.

Michigan. Beginning January 1, 2012, this credit is available as

The amount otherwise added to the tax liability may also be

a certificated credit to the extent that the taxpayer has entered

used to reduce any carryforward of credits available to the

into an agreement with MEGA by December 31, 2011, but

taxpayer.

the credit has not been fully claimed or paid prior to January

1, 2012.

This credit must be claimed beginning with the

UBGs: If any member of the UBG is reporting recapture,

taxpayer’s first tax year ending after December 31, 2011, in

a statement must be attached to this form identifying the

order for the taxpayer to remain taxable under the MBT and

reporting member.

claim the credit.

Line 40: Enter only the unused credit from a previous period

A qualified taxpayer may take a credit up to 100 percent of its

MBT return. Available SBT credit carryforward is claimed

supplier’s or customer’s payroll for employees who perform

separately on Form 4569.

qualified new jobs multiplied by the Michigan Individual

UBGs: Standard taxpayers, enter the unused credit amount

Income Tax rate. This credit may be taken for a period of up to

from Form 4580, Part 2B, line 54, column C. Financial

five years, as determined by MEGA. Any amount that exceeds

institutions, enter the combined total of carryforward amounts

the taxpayer’s tax liability may be refunded or carried forward

reported on Form 4752, line 31, by all members of the group.

for ten years or until it is used up, whichever occurs first. To be

eligible for the credit, a taxpayer must be certified by MEGA.

Line 43: If the Brownfield Redevelopment Credit has been

MEGA also may provide that qualified sales to a qualified

assigned, attach the MBT Brownfield Redevelopment Credit

customer not be considered in calculating the sales factor for

Assignment Certificate to the return. (If the certificate is not

the tax year for which a credit is provided.

attached, the credit will be disallowed.)

The statute provides for reduction, termination, or recapture of

Line 46: For the credit to be valid, attach the Certificate

the credit if the taxpayer fails to comply with its agreement or

of Completion, issued after the completion of the approval

the statute. Credit recapture is calculated on Form 4587.

process, to the return. (If the certificate is not attached, the

credit will be disallowed.)

For more information, contact MEDC at (517) 373-9808 or visit

the MEDC Web site at

Line 54: Add lines 51 and 53. This amount is the Brownfield

Redevelopment credit carryforward to be used on the

Line 65: UBGs: Enter unused credit amount from Form 4580,

taxpayer’s next MBT return.

Part 2B, line 58, column C.

MEGA Plug-In Traction Battery Manufacturing

Line 68: Approved businesses receive a certificate from

Credit

MEGA each year showing the total amount of tax credit

allowed. Attach the Anchor Jobs Tax Credit Certificate to the

The MEGA Plug-In Traction Battery Manufacturing Credit

return. (If the certificate is not attached, the credit will be

encourages investment in the development, manufacture,

disallowed.)

commercialization, and affordability of advanced automotive

high-power energy batteries. The credit is available only to

Line 71: Add lines 67 and 70b. This amount is the Anchor

a taxpayer that has entered into an agreement with MEGA

Company Payroll credit carryforward to be used on the

that provides that the taxpayer will manufacture plug-in

taxpayer’s next MBT return.

traction battery packs in Michigan. This credit is no longer

Anchor Company Taxable Value Credit

available. However, unused credit carryforward from the

immediately preceding tax year may still be claimed, if

The Anchor Company Taxable Value Credit is available for a

available.

qualified taxpayer that was designated by MEGA as an anchor

company within the last five years and that has influenced a

For more information, contact MEDC at (517) 373-9808 or visit

new qualified supplier or customer to open, locate, or expand

the MEDC Web site at

in Michigan.

Line 57: UBGs: Enter the unused credit amount from Form

Beginning January 1, 2012, this credit is available as a

4580, Part 2B, line 57, column C.

138

Instructions For Michigan Business Tax (Mbt) Election Of Refund Or Carryforward Of Credits Form 4584 Page 4

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