Form 4580 - Michigan Business Tax Unitary Business Group Combined Filing Schedule For Standard Members - 2013 Page 16
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18Line 45e: This includes rent restricted and unrestricted
NOTE: It is important to review a carryforward for the
residential rental units owned by the QAHP in Michigan.
possibility that some or all of it has expired, or that some or all
of it was withdrawn from the group by a departing member.
Line 45h: The QAHP’s deduction is reduced by the amount of
limited dividends or other distributions made to the owners of
Each of these lines for a tax credit carryforward is the amount
of the identified item that may be claimed in this filing period.
the project. Income received by the management, construction,
or development company for completion and operation of the
See the “Supplemental Instructions for Standard Members in
project and rental units does not constitute taxable income
UBGs” section in Form 4600 for information on the effects of
attributable to residential rental units.
members leaving or joining a UBG on credit carryforwards.
Line 45i: The seller may take a deduction from its apportioned
Line 66: Enter overpayment credited from the prior MBT or
Business Income Tax base equal to the gain from the sale of
Corporate Income Tax (CIT) return. When membership of a
the residential rental units to the QAHP, as calculated on
UBG changes from one filing period to the next, carryforward
the MBT Qualified Affordable Housing Seller’s Deduction
of an overpayment from the prior return remains with the DM’s
(Form 4579). Enter the amount from Form 4579, line 5. (All
account. As with business loss carryforwards, in general this
MBT forms, including Form 4579, are available online at
line should be used only on the DM’s copy of Part 2A (credit
)
forward from the group’s prior return) or that of a new member
When the seller claims a deduction for the year of sale, the
(credit forward from the new member’s final return as a
State will place a lien on the property equal to the amount of
separate filer).
the seller’s deduction. If the buyer fails to qualify as a QAHP
Line 67: All MBT estimated payments for a UBG should be
or fails to operate any of the residential rental units as rent
made by the DM. Enter estimates paid by the DM on this line of
restricted units in accordance with the operation agreement
the DM’s copy of Part 2A. If any other member paid estimates
within 15 years after the date of purchase, the lien placed on
attributable to the group return supported by this form, enter
the property for the amount of the seller’s deduction becomes
those estimates on that member’s copy of Part 2A. Include all
payable to the State. The lien is payable through a “recapture”
payments made by that member for any portion of its federal
to be added to the tax liability of the buyer in the year the
filing period that is included on the group return. For example,
recapture event occurs. The recapture is calculated on MBT
if a non-DM member has a 12-month fiscal year beginning April
Schedule of Recapture of Certain Business Tax Credits and
1, 2010, and is a member of a calendar year UBG throughout that
Deductions (Form 4587), and is reduced proportionally for the
period, its business activity from April 1, 2010, through March
number of years the buyer qualified for the deduction.
31, 2011, will be reported on the group’s December 31, 2011,
Lines 46 through 65: These lines are for reporting each
return. If that member pays MBT quarterly estimates, it will
make two estimates during 2010, before the DM’s filing period
member’s credit carryforwards remaining from a previous
year. If the group created a credit carryforward in a preceding
begins. Because those estimates are attributable to activity that
tax period, Treasury will have maintained that carryforward on
will be reported on the group’s December 31, 2011, return, they
the DM’s account. Enter unused credit carryforwards of this
should be included on the paying member’s copy of Part 2A for
type on the DM’s copy of Part 2A.
the December 31, 2011, group return.
Line 68: As an MBT taxpayer, flow-through entities are not
If a member created a credit carryforward prior to joining
required to withhold on your behalf under the Flow-Through
the UBG, Treasury will maintain that carryforward on that
Withholding (FTW) requirements. However, in the event a
member’s account, subject to use by the group, until it is fully
flow-through entity does withhold on your distributive share
consumed or that member leaves the group. Enter unused credit
carryforwards of this type on the copy of Part 2A filed for the
of the flow-through entity’s income, enter the total withholding
payments made on your behalf by that flow-through entity
member that brought the carryforward to the group.
(FTE). Include all withholding payments made on returns
Available credit carryforwards, regardless of whether they
that apply to the tax year included in this return. Include all
arose within the group or outside of it, are applied against the
withholding payments made on returns that apply to this
UBG’s tax liability on the basis of age (oldest first). Credit
member’s tax year included in this UBG return. Included on
carryforward of a UBG, including credit carryforward brought
this line would be FTW payments made by FTEs whose tax
by an incoming member, ages according to the tax years of the
years ended within the member’s tax year that is included in
group, rather than tax years of any particular member.
this UBG return. For example, consider a partnership with a
If two members each created a carryforward of the same
June 30 year end, a UBG with a September 30 year end, and
credit and the same age, and together they exceed the amount
a UBG member that has a March 31 year and is a partner in
allowable in this filing period, those members’ respective
the partnership. The partnership will make quarterly FTW
payments in April 2014 (for its quarter ending March 31) and
credit carryforwards are used in proportion to the amount
July 2014 (for its quarter ending June 30), and will file an
they contributed to the group. If a member that generated a
annual FTW reconciliation return (Form 4918) for its year
carryforward in a prior period leaves the group, that member
will take with it an amount equal to the group’s remaining
ending June 30, 2014. Because the partnership’s year ends
within the partner’s 2014-15 fiscal year, all the FTW payments
carryforward from that period multiplied by the amount that
for that partner are attributable to the partner’s 2014-15 fiscal
member contributed relative to the total amount contributed by
year, regardless of the dates of the quarterly payments. Because
all group members for the same credit in that same period.
120
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