Form 4573 - Business Tax Miscellaneous Nonrefundable Credits

which additional beneficiation and agglomeration are required

headquarters, and transportation services in Michigan.

to produce a product of sufficient quality to be used in the

• Sells all of the following at retail:

production of pig iron or steel. Qualified low-grade hematite

○ Fresh, frozen, or processed food; food products; or

must be produced from low-grade hematitic iron ore mined in

consumable necessities.

the United States.

○ Prescriptions and over-the-counter medications.

Line 20: UBGs: Enter the carryforward amount from Form

○ Health and beauty care products.

4580, Part 2B, line 51, column C.

○ Cosmetics.

Line 24: If line 21 is greater than line 18, enter the difference.

○ Pet products.

This is a credit carryforward to be used on the taxpayer’s

○ Carbonated beverages.

immediately following MBT return.

○ Beer, wine, or liquor.

New Motor Vehicle Dealer Inventory Credit

• Sales of the items listed above represent more than 35

A taxpayer that is a new motor vehicle dealer licensed under

percent of the taxpayer’s total sales in the tax year.

the Michigan vehicle code, Michigan Compiled Law (MCL)

• Maintains its headquarters operation in Michigan.

257.1 to 257.923, may claim a credit against the tax equal to

0.25 percent of the amount paid by the taxpayer to acquire new

Line 33: Enter compensation attributable to Michigan.

motor vehicle inventory in Michigan during the tax year.

UBGs: If the eligible taxpayer is a UBG, enter the

Line 25: New motor vehicle inventory means new motor

compensation attributable to Michigan for the entire UBG.

vehicles or new motor vehicle parts.

Large Food Retailer Credit

Bottle Deposit Administration Credit

An eligible taxpayer may claim a Large Food Retailer Credit

eligible

taxpayer

may

claim

Bottle

Deposit

equal to 1 percent of the taxpayer’s compensation in Michigan,

Administration Credit equal to 30.5 percent of the taxpayer’s

not to exceed $8,500,000. A taxpayer that claims a Large Food

expenses incurred during the tax year to comply with MCL

Retailer Credit cannot also claim a Mid-Size Food Retailer

445.571 to 445.576. Eligible taxpayer means a distributor

Credit.

or manufacturer who originates a deposit on a beverage

container in accordance with MCL 445.571 to 445.576.

The taxpayer must meet all of the following criteria:

Beverage container and distributor mean those terms as

• Operates at least 17,000,000 square feet of enclosed retail

defined under MCL 445.571 to 445.576.

space and 2,000,000 square feet of enclosed warehouse space

UBGs: If the eligible taxpayer is a member of a UBG, enter

in Michigan.

expenses incurred only by that eligible member. If multiple

• Sells all of the following at retail:

members of a UBG are eligible taxpayers, combine the

○ Fresh, frozen, or processed food; food products; or

expenses of those eligible members.

consumable necessities.

MEGA Federal Contract Credit

○ Prescriptions and over-the-counter medications.

This credit is available for a qualified taxpayer or collective

○ Health and beauty care products.

group of taxpayers that have been awarded a federal

○ Cosmetics.

procurement contract from the U.S. Department of Defense,

○ Pet products.

Department of Energy, or Department of Homeland Security

○ Carbonated beverages.

resulting in a minimum of 25 new full-time jobs.

○ Beer, wine, or liquor.

NOTE: Beginning January 1, 2012, this credit is available as

a certificated credit to the extent that the taxpayer has entered

• Sales of the items listed above represent more than

into an agreement with MEGA by December 31, 2011, but

35 percent of the taxpayer’s total sales in the tax year.

the credit has not been fully claimed or paid prior to January

• Maintains its headquarters operation in Michigan.

1, 2012. This credit must be claimed beginning with the

taxpayer’s first tax year ending after December 31, 2011, in

Line 29: Enter compensation attributable to Michigan.

order for the taxpayer to remain taxable under the MBT and

UBGs: If the eligible taxpayer is a UBG, enter the

claim the credit.

compensation attributable to Michigan for the entire UBG.

Line 41: Complete Form 4584 to claim this credit and elect a

Mid-Size Food Retailer Credit

refund or carryforward of any excess credit.

An eligible taxpayer may claim a Mid-Size Food Retailer

For more information, contact MEDC at (517) 373-9808

Credit equal to 0.125 percent of the taxpayer’s compensation in

or visit the MEDC Web site at

Michigan, not to exceed $300,000.

MIAdvantage/Taxes-and-Incentives.

The taxpayer must meet all of the following criteria:

Individual or Family Development Account Credit

• Operates at least 2,500,000 square feet of enclosed retail

A taxpayer or qualified financial institution may claim a credit

space and 1,400,000 square feet of enclosed warehouse,

Form 4573 - Business Tax Miscellaneous Nonrefundable Credits - 2014 Page 8

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