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Instructions for Form 4974

Schedule of Corporate Income Tax Liability

for a Michigan Business Tax Insurance Filer

Line 9: Subtract line 8 from line 6 and enter amount in field.

Purpose

This figure represents the MBT liability after applying the

The purpose of this form is to determine the Corporate Income

Historic Preservation Credit Net of Recapture.

Tax (CIT) liability of an insurance company that files under

Line 12: Subtract line 11 from line 9 and enter amount in field.

the Michigan Business Tax (MBT). The CIT liability will

This figure represents the MBT liability after applying the

be compared against the MBT liability in order to determine

Brownfield Redevelopment Credit.

which liability is greater.

Line 14: Add lines 5, 8, 11 and 13. This is the total amount of

NOTE: A credit or recapture should not be reported on this

Certificated Nonrefundable Credits for CIT.

form if it is not reported on one of the following forms:

• Miscellaneous Credits for Insurance Companies (Form

PART 2: CIT LIABILITY

Line 16: Subtract line 14 from line 15. This is the amount of

4596).

the CIT liability after Certificated Nonrefundable Credits.

• Schedule of Recapture of Certain Business Tax Credits and

Line 18: Add lines 16 and 17. This is the amount of CIT

Deductions (Form 4587).

liability after the Recapture of Certain Business Tax Credits.

NOTE: Beginning January 1, 2012, only those taxpayers with

a certificated credit, which is awarded but not yet fully claimed

PART 3: MBT TAX COMPARED AGAINST CIT FOR

or utilized, may elect to be MBT taxpayers.

INSURANCE

Line 20: Carry the amount on this line to the Insurance

Line-by-Line Instructions

Company Annual Return for Michigan Business and

Lines not listed are explained on the form.

Retaliatory Taxes (Form 4588), line 28. This amount is used to

calculate the tax liability for an MBT filer.

Enter the taxpayer’s name and Federal Employer Identification

Number (FEIN) in the appropriate field.

Include completed Form 4596 as part of the tax return filing.

PART 1: CERTIFICATED NONREFUNDABLE CREDITS

Line 2: Combine the total amount of noncertificated

nonrefundable credits from Form 4596, line 6, and the

amounts from Form 4596, lines 13 and 15. Enter the total

combined amount, as this represents the allowable amount of

noncertificated nonrefundable credits.

Line 3: Subtract line 2 from line 1. If less than zero, enter zero.

This is the MBT liability after noncertificated nonrefundable

credits.

Line 4: Enter the available Certificated Renaissance Zone

Credit. Not all Renaissance Zone credits are certificated

credits to be reported on this form. See special instructions on

the MBT Renaissance Zone Credit Schedule (Form 4595) to

determine which Renaissance Zone credits are certificated. A

certificated Renaissance Zone credit will be identified by the

checkbox on line 2 of Form 4595. Enter credit amount from

Form 4595, line 25b, for which certificated status is properly

claimed on Form 4595, line 2.

If a taxpayer has activity in more than one certificated

Renaissance Zone, a separate Form 4595 will be filed for each

Zone. In that case, report here the combined total of credits

claimed on all Forms 4595, line 25b, for which certificated

status is properly claimed on Form 4595, line 2.

DO NOT use the Renaissance Zone credit amount from Form

4573 or Form 4596 to complete this line.

Line 6: Subtract line 5 from line 3 and enter amount in field.

This figure represents the MBT liability after applying the

Renaissance Zone Credit.

Form 4974 - Schedule Of Corporate Income Tax Liability For A Michigan Business Tax Insurance Filer - 2013 Page 2

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