Form 807 Draft - Michigan Composite Individual Income Tax Return - 2009 Page 4
ADVERTISEMENT
1
2
3
4Distributive Income Worksheet
2009 807, Page 4
A flow-through entity is also required
Column A refers to Distributive Income categories from Schedule K form(s). Columns B and C refer to lines
to withhold Michigan income tax when
on the U.S. Form 1065 Schedule K and U.S. Form 1120S Schedule K. Column D is the list of amounts that
are added to arrive at total distributive income that is reported on Form 807, line 47.
one or more of the entity’s members is a
nonresident flow-through entity. The flow-
A
B
C
D
U.S. Form 1065
U.S. Form 1120S
Distributive Income
through entity in Michigan shall withhold
Distributive Income Categories
Schedule K
Schedule K
Amounts
Michigan income tax from any such
Ordinary income (loss) from trade or business
nonresident flow-through entity on behalf
x
x
activity
of all of the nonresident members.
Net income (loss) from rental real estate activity
x
x
Line 24: Pay. If line 22 plus line 23 is less
than line 21, enter the balance of the tax
Net income (loss) from other rental activity
xx
xx
due. This is the tax owed with the return.
Portfolio income (loss):
Enter any applicable penalties and interest
Interest income
x
x
in the spaces provided. Add tax, penalty
and interest together and enter the total on
Dividend income
xx and xx
xx and xx
this line. Make check payable to “State
Royalty income
x
x
of Michigan.” Write the firm’s FEIN,
Net short-term capital gain (loss)
x
x
“Composite Return,” and the tax year on
the front of the check. To ensure accurate
Net long-term capital gain (loss)
xx
xx
processing of your return, send one check
Guaranteed payments
x
for each return type. If balance due is less
Net gain (loss) under section 1231
xx
x
than $1, no payment is required.
Other income (loss)
xx
xx
Line 26:
You may opt to have your
overpayment
transferred
to
your
TOTAL DISTRIBUTIVE INCOME
withholding tax account. This does not
Add all amounts in Column D and carry total to Form 807, line 47.
relieve you from the responsibility to file
the withholding tax forms each quarter. If this satisfies your
(above the line) that were not included in determining ordinary
liability for the year, you must file the returns indicating “0” due
income. This includes section 179 depreciation and amounts
each quarter.
included on line xx[x][x] of U.S. Form 1120S Schedule K and
on line xx[x][x] of U.S. Form 1065 Schedule K. Also include
Line 27: Refund. Subtract line 26 from line 25. This is the
pension benefits paid to nonresident partners that were included
refund. Treasury will not refund amounts less than $1.
in ordinary income but are excluded from Michigan tax under
Pay, mail your completed return with payment to:
section 114 of Title 4 of the U.S. Code. Attach a schedule of all
Michigan Department of Treasury
subtractions.
P.O. Box 30207
Michigan Allocated Income or Loss
Lansing, MI 48909
Refund, Credit or zero return, mail your completed return to:
Line 39: Enter the portion of guaranteed payments attributable
to services performed in Michigan by the nonresident participants.
Michigan Department of Treasury
P.O. Box 30058
Line 40: Enter income or loss from other fiduciaries or other
Lansing, MI 48909
flow-through entities attributable to Michigan that have not
been reported on another composite return. Attach a schedule
Additions
showing the amount of income or loss attributable to each.
Lines 28 through 32: Enter income from lines x, xx, x, xx, xx,
Line 41: Enter gains/losses from the sale of real or personal
x, x, xx, x and xx of U.S. Form 1120S Schedule K and from
property located in Michigan not subject to apportionment.
lines x, xx, x, xx, xx, x, x, xx, xx and xx of U.S. Form 1065
Line 42: Enter any other income (loss) allocated to Michigan.
Schedule K. Guaranteed payments, income attributable to other
Include any Michigan net operating loss deduction (NOLD).
Michigan fiduciaries or flow-through entities should be allocated
Attach schedules.
to Michigan on lines 39 through 42. See instructions below.
Exemption Allowance
Line 33: Enter the amount of state and local income taxes that
was used to determine ordinary income on U.S. Form 1065, line
Line 47: Enter the total distributive income as determined using
xx or U.S. Form 1120S, line xx.
the worksheet on this page.
Line 34: Enter other additions to income, such as gross interest
Line 48: Compute the percentage of income attributable to
and dividends from obligations or securities of states and their
Michigan by dividing total Michigan income (line 46) by the
political subdivisions other than Michigan.
total distributive income (line 47). This figure may not exceed
100 percent.
Subtractions
SEP, SIMPLE or Qualified Plan Subtractions
Note: Charitable contributions and other amounts reported
(PARTNERS ONLY)
as itemized deductions on U.S. Schedule A are not allowable
subtractions in determining Michigan taxable income.
SEP - Simplified Employee Pensions
Line 36: Enter income (loss) from other fiduciaries or other
SIMPLE - Savings Incentive Match Plan for Employees
flow-through entities that is included in ordinary income.
Line 50: Figure the portion of SEP, SIMPLE or qualified plan
Losses must be added back to ordinary income. Attach a
subtractions which is attributable to the participants. Attach a
schedule showing the location of companies and amount of
schedule showing calculations.
income attributable to each.
Visit Treasury’s Web site at:
Line 37: Enter amounts such as interest from U.S. obligations
that are included in line 30a, and other deductions for AGI
ADVERTISEMENT
0 votes
