Form 4595 - Michigan Business Tax Renaissance Zone Credit Schedule - 2013 Page 3
Download a blank fillable Form 4595 - Michigan Business Tax Renaissance Zone Credit Schedule - 2013 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 4595 - Michigan Business Tax Renaissance Zone Credit Schedule - 2013 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5Instructions for Form 4595
Michigan Business Tax (MBT) Renaissance Zone Credit Schedule
of another certificated credit may also claim this credit. For
Purpose
more information on certificated credits see the Schedule of
Certificated Credits (Form 4947).
To allow eligible taxpayers to calculate and claim the
Renaissance Zone Credit. For standard taxpayers and financial
EXAMPLE 1: Taxpayer enters into a qualified collaborative
institutions, the credit is calculated on Form 4595 and then
agreement with the MSF and locates and begins conducting
carried to the MBT Miscellaneous Nonrefundable Credits
business in a tool and die renaissance zone on January 1, 2011.
(Form 4573). Insurance companies will carry this credit to the
Taxpayer may elect to continue under the MBT on the basis of
Miscellaneous Credits for Insurance Companies (Form 4596).
this certificated renaissance zone credit.
NOTE: If a person is located and has business activity in
EXAMPLE 2: Taxpayer located and began conducting
more than one Renaissance Zone, use a separate Form 4595 to
business in a designated renaissance zone on January 1, 2011;
calculate the credit for each Zone. For each line that requires
however, the renaissance zone does not qualify as a certificated
Zone-specific data, enter data based only on business activity
credit for purposes of the MBT election (see the certificated
in the Zone identified on line 2 of this copy of the form.
renaissance zone credits listed previously in these instructions).
The taxpayer also holds a certificated anchor company credit.
Renaissance Zone Credit
Taxpayer may make the election to remain taxable under the
MBT on the basis of its certificated anchor company credit and
The Renaissance Zone Credit encourages businesses and
continue to claim the non-certificated renaissance zone credit
individuals to help revitalize a designated Zone by providing a
once it has properly elected the MBT.
credit for businesses located and conducting business activity
To obtain the credit an otherwise qualified taxpayer must file
within the Zone. The method of calculating the credit is
different for businesses first locating and conducting business
an MBT annual return. The credit is equal to the lesser of the
activity within the Renaissance Zone before December 31,
following:
2002, and those businesses first locating and conducting
• The tax liability attributable to business activity conducted
business activity within the Renaissance Zone after December
within the Renaissance Zone in the tax year.
30, 2002.
• 10 percent of adjusted services performed in the designated
Use this form to calculate both a certificated and non-
Renaissance Zone.
certificated renaissance zone credit. Check the certificated
• For a taxpayer located and conducting business activity
credit box if the credit being calculated is a certificated
in the Renaissance Zone before December 31, 2002, the
renaissance zone credit. File a separate Form 4595 for each
product of the following:
zone and type (certificated or non-certificated) of credit.
○ The Single Business Tax (SBT) Renaissance Zone
Beginning January 1, 2012, only those taxpayers with a
Credit claimed for the tax year ending in 2007.
certificated credit, which is awarded but not yet fully claimed
○ The ratio of the taxpayer’s payroll in this State in the
or utilized, may elect to be MBT taxpayers. A taxpayer with
tax year divided by the taxpayer’s payroll in this State
a certificated renaissance zone credit may make the election to
in its SBT tax year ending in 2007.
remain taxable under the MBT for its first tax year ending after
○ The ratio of the taxpayer’s Renaissance Zone Business
December 31, 2011.
Activity Factor for the tax year divided by the
The certificated renaissance zone credits are the following
taxpayer’s Renaissance Zone Business Activity Factor
types of zones for which the taxpayer has a development
for its SBT tax year ending in 2007.
agreement with the Michigan Strategic Fund (MSF) before
January 1, 2012:
The credit allowed continues through the tax year in which the
Renaissance Zone designation expires and is nonrefundable.
• agricultural processing,
Business activities relating to a casino, including operating
• border crossing,
a parking lot, hotel, motel, or retail store, cannot be used to
• forest products processing,
calculate this credit. Businesses delinquent in filing or paying
• Michigan strategic fund designated renewable energy
Property Tax, SBT, MBT or City Income Tax as of December
renaissance zones,
31 of the prior tax year are not eligible for this credit. Taxpayers
will be notified if a claimed credit is disallowed.
• AND the tool and die renaissance zones for which
the taxpayer has entered into a qualified collaborative
For more information on Renaissance Zones, contact
agreement with the MSF before January 1, 2012.
the
Michigan
Economic
Development
Corporation
(MEDC) at (517) 373-9808 or visit their Web site at
A taxpayer located in a designated renaissance zone that does
For information on the
not have a certificated renaissance zone credit but which makes
MBT credit, contact the Michigan Department of Treasury,
the election to remain taxable under the MBT on the basis
Customer Contact Division, MBT Unit, at (517) 636-6925.
153
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial