Instructions For Form 4947 - Schedule Of Certificated Credits Page 5
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5Worksheet 2 — Calculation of MBT ITC Recapture Rates and Amounts
A
b
c
d
Allowable Michigan
ITC that offsets MBT liability
Taxable Year (End Date) in
compensation and ITC credit
Michigan Compensation
Subtract column C
which MBT ITC Disposed
amount from Form 4570,
Credit Amount from
from column B
Assets were acquired
line 26
Form 4570, line 3
(Enter 0 if less than 0)
e
f
G
H
MBT Capital Investment
ITC rate
Gross ITC Credit Amount
Taxable Year
Amount from Form 4570,
(2.32% for tax years ending
Multiply column F
(repeat from column A)
line 8
in 2008, or 2.9% otherwise)
by column G
i
J
K
l
M
MBT Recapture of Capital
ITC rate
Gross MBT ITC Recapture
MBT ITC Recapture Amount
Taxable Year
Investment Amount from
(2.32% for tax years ending
Multiply column J
Offset by Credit Lesser
(repeat from column A)
Form 4570, line 16
in 2008, or 2.9% otherwise)
by column K
of column L and H
N
o
P
Q
r
SBT ITC Recapture Amount
SBT ITC Credit Recapture
Offset by Credit Lesser
Taxable Year
Amount from Form 4570,
of column O,
Total MBT ITC Credit Used
Extent Credit Used Rate
(repeat from column A)
line 19
and column (H – M)
Add columns D, M, and P
Divide column Q by column H
s
t
u
Recapture base.
Enter total amount of
recapture from Worksheet
1a, column F; Worksheet 1 b,
Recapture Amount.
Taxable Year
column F; and Worksheet 1c,
Multiply column T by
(repeat from column A)
column B.
column G and by column R
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