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the UBG, Treasury will maintain that carryforward on that

Line 15: Enter a concise description of the activities or

member’s account, subject to use by the group, until it is fully

operations of this member that result in a flow of value

between this member and others in the UBG, or integration,

consumed or that member leaves the group. Enter unused credit

carryforwards of this type on the copy of Part 2B filed for the

dependence, or contribution to other members. This is

member that brought the carryforward to the group.

not limited to transactions that are recognized for tax or

accounting purposes. It may include sharing of assets,

Available credit carryforwards, regardless of whether they

employees, data, business opportunities, or other resources.

arose within the group or outside of it, are applied against

(See RAB 2010-2.)

the UBG’s tax liability on the basis of age (oldest first). If

two members each created a carryforward of the same credit

Important for All Filers: For lines 16 through 19, enter

and the same age, and together they exceed the amount

the requested figures after elimination of any investment

allowable in this filing period, those members’ respective

of the member reporting on this copy of Part 2B in another

credit carryforwards are used in proportion to the amount

member of the UBG. Supporting documentation identifying

they contributed to the group. If a member that generated a

eliminations must be attached. A member of a UBG of

carryforward in a prior period leaves the group, that member

financial institutions will eliminate its investment in another

will take with it an amount equal to the group’s remaining

member of the same group. However, in order to reach net

carryforward from that period multiplied by the amount that

capital for the group, each member of a UBG of financial

member contributed relative to the total amount contributed by

institutions must compute its tax base individually in

accordance with GAAP. The rules of GAAP do not permit

all group members for the same credit in that same period.

negative equity capital for a financial institution.

NOTE: It is important to review a carryforward for the

possibility that some or all of it has expired, or that some or all

Line 16: Enter equity capital as of the last day of the filing

of it was withdrawn from the group by a departing member.

period, as computed in accordance with generally accepted

accounting principles. If the member does not maintain its

See the “Supplemental Instructions for Standard Members

books and records in accordance with generally accepted

in UBGs” in Form 4599 for information on the effects of

accounting principles, net capital must be computed in

members leaving or joining a UBG on credit carryforwards.

accordance with the books and records used by the member, so

long as the method fairly reflects the member’s net capital for

Line 33: Enter overpayment credited from prior MBT return.

When membership of a UBG changes from one filing period to

purposes of this tax.

the next, carryforward of an overpayment from the prior return

Line 18: Under MCL 208.1261(k), Michigan obligations

remains with the DM’s account.

means a bond, note, or other obligation issued by a

governmental unit described in Section 3 of the Shared Credit

Line 34: All MBT estimated payments for a UBG should

Rating Act, PA 227 of 1985, MCL 141.1053.

be made by the DM. Enter estimates paid by the DM on

this line of the DM’s copy of Part 2B. If any other member

Line 19: Under MCL 208.1261(s), United States obligations

paid estimates attributable to this group return, enter those

means all obligations of the United States exempt from taxation

estimates on that member’s copy of Part 2B. Include all

under 31 USC 3124(a) or exempt under the United States

payments made by that member for any portion of its federal

constitution or any federal statute, including the obligations

filing period that is included on this group return.

of any instrumentality or agency of the United States that are

For example, if a non-DM member has a 12-month fiscal

exempt from state or local taxation under the United States

year beginning April 1, 2010, and is a member of a calendar

constitution or any statute of the United States.

year UBG throughout that period, its business activity from

Line 22a: If the UBG member reporting on this page

April 1, 2010, through March 31, 2011, will be reported on the

owns a subsidiary that is an authorized insurance company,

group’s December 31, 2011, return. If that member pays MBT

enter actual amount of capital fund maintained within that

quarterly estimates based on its federal tax year, it will make

subsidiary.

two estimates during 2010, before the DM’s (and group’s) filing

Line 22b: Enter the minimum capital fund amount required by

period begins. Because those estimates are attributable to

activity that will be reported on the group’s December 31, 2011,

regulations for that insurance subsidiary.

return, they should be included on the paying member’s copy of

Line 25: Enter the combined totals of line 25 of this form on

Part 2B for the December 31, 2011, group return.

Form 4590, line 20, and skip lines 11 through 19 on Form 4590.

If this combined number is less than zero, enter zero on Form

Line 35: Enter the total withholding payments made on your

4590, line 20.

behalf by flow-through entities. Include all withholding

payments made on returns that apply to the tax year included

Lines 26-32: These lines are for reporting each member’s

in this return. Included on this line would be Flow-Through

credit carryforwards remaining from a previous year. If the

Withholding payments made by flow-through entities whose

group created a credit carryforward in a preceding tax period,

tax years ended with or within the tax year included in this

Treasury will have maintained that carryforward on the DM’s

return. For example, a calendar year filer would include Flow-

account. Enter unused carryforwards of this type on the DM’s

Through Withholding payments made by a flow-through entity

copy of Part 2B.

whose tax year ended on or after January 1, 2012, and on or

If a member created a credit carryforward prior to joining

before December 31, 2012. Any flow-through entity that has

Form 4752 - Business Tax Unitary Business Group Combined Filing Schedule For Financial Institutions - 2012 Page 8

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