Form 4573 - Michigan Business Tax Miscellaneous Nonrefundable Credits

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.

○ Prescriptions and over-the-counter medications.

the United States.

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.

○ Carbonated beverages.

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

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.

Bottle Deposit Administration Credit

Large Food Retailer Credit

eligible

taxpayer

may

claim

Bottle

Deposit

An eligible taxpayer may claim a Large Food Retailer Credit

Administration Credit equal to 30.5 percent of the taxpayer’s

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

expenses incurred during the tax year to comply with MCL

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

445.571 to 445.576. Eligible taxpayer means a distributor

Retailer Credit cannot also claim a Mid-Size Food Retailer

or manufacturer who originates a deposit on a beverage

Credit.

container in accordance with MCL 445.571 to 445.576.

Beverage container and distributor mean those terms as

The taxpayer must meet all of the following criteria:

defined under MCL 445.571 to 445.576.

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

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

expenses of those eligible members.

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

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,

Department of Energy, or Department of Homeland Security

○ Pet products.

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

○ Carbonated beverages.

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

○ Beer, wine, or liquor.

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

refund or carryforward of any excess credit.

Mid-Size Food Retailer Credit

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

An eligible taxpayer may claim a Mid-Size Food Retailer

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

or visit the MEDC Web site at

MIAdvantage/Taxes-and-Incentives.

Michigan, not to exceed $300,000.

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,

for 75 percent of certified contributions made to a reserve fund

headquarters, and transportation services in Michigan.

of a fiduciary organization in accordance with the Individual

• Sells all of the following at retail:

or Family Development Account Program Act, MCL 206.701

Form 4573 - Michigan Business Tax Miscellaneous Nonrefundable Credits - 2013 Page 8

Related Articles

Related forms

Related Categories