Form 4947 - Michigan Schedule Of Certificated Credits - 2014 Page 7
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7Worksheet 2 — Calculation of MBT ITC Recapture Rates and Amounts
A
B
C
D
Allowable Michigan
ITC that offsets MBT liability
Taxable Year (End Date) in
compensation and ITC credit
Subtract column C
Michigan Compensation
which MBT ITC Disposed
amount from Form 4570,
Credit Amount from
from column B
Assets were acquired
Form 4570, line 3
(Enter 0 if less than 0)
line 26
E
F
G
H
MBT Capital Investment
Gross ITC Credit Amount
ITC rate
Taxable Year
Amount from Form 4570,
(2.32% for tax years ending
Multiply column F
by column G
(repeat from column A)
line 8
in 2008, or 2.9% otherwise)
I
J
K
L
M
MBT Recapture of Capital
Gross MBT ITC Recapture
MBT ITC Recapture Amount
ITC rate
Taxable Year
(2.32% for tax years ending
Offset by Credit Lesser
Investment Amount from
Multiply column J
Form 4570, line 16
by column K
of column L and H
(repeat from column A)
in 2008, or 2.9% otherwise)
N
O
P
Q
R
SBT ITC Recapture Amount
SBT ITC Credit Recapture
Offset by Credit Lesser
Taxable Year
Amount from Form 4570,
Total MBT ITC Credit Used
Extent Credit Used Rate
of column O,
and column (H – M)
Add columns D, M, and P
Divide column Q by column H
(repeat from column A)
line 19
S
T
U
Recapture base.
Enter total amount of
recapture from Worksheet
1a, column F; Worksheet 1 b,
Recapture Amount.
Taxable Year
column F; and Worksheet 1c,
Multiply column T by
column B.
column G and by column R
(repeat from column A)
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