Fillable Form Mi-706 - Michigan Estate Tax Return (Page 5 of 9) in pdf

Instructions for Forms MI-706 or MI-706A,

Michigan Estate Tax Return

GENERAL INSTRUCTIONS

You must attach a copy of the completed U.S. 706 to the Michigan return. Without it, we are unable to

process the return, and penalties and interest may accrue.

Date

Gross Estate is

NEED HELP?

of Death

Equal To or Less Than:

For questions relating to Estate Tax, call (517) 636-4330

1997

$600,000

between 8 a.m. and 5 p.m., Monday through Friday.

1998

$625,000

FORMS

1999

$650,000

2000

$675,000

The Department of Treasury's computerized forms message

2001

$675,000

system is available 24 hours a day. If you need forms call 1-

2002 & 2003

$1,000,000

800-FORM-2-ME (367-6263), and Treasury will mail the

2004

$1,500,000

forms to you. Forms may also be obtained on Treasury's web

site on the Internet at:

A MI-706 (or MI-706A) must be filed if all of the following

WHAT IS THE ESTATE TAX?

are true:

The Michigan estate tax was enacted for estates of persons

• the decedent died after September 30, 1993;

who died after September 30, 1993. See " Who Must File?"

• the decedent was a Michigan resident or a nonresident

for more specific requirements.

with real or tangible personal property located in Michigan;

Michigan's estate tax is equal to the maximum federal

and

credit allowable for state death taxes. The Michigan estate tax

• A U.S. 706 is required.

return picks up the maximum allowable credit amount from

the U.S. 706.

WHEN TO FILE

Estates of persons dying before October 1, 1993 must file

The MI-706 (or MI-706A) is due at the same time the U.S.

Form 2523, Michigan Inheritance Tax Return or Form 2307,

706 is due. The due date is nine months after the date of death.

Michigan Inheritance Tax No-Tax Return.

WHERE TO FILE AND PAY

Distributees and trustees of generation-skipping transfers

(GST) may be required to pay a Michigan GST tax. See

Send the completed return and attachments or estimate

"Michigan Generation -Skipping Transfer (GST) Tax" on

voucher to:

page 6.

Estate Tax Section

WHO MUST FILE?

Michigan Department of Treasury

Lansing, MI 48922

P.A. 277 of 1998 has changed the Michigan Estate Tax Act

to reflect the recent changes in the Federal Estate Tax

HOW TO PAY

Code. Under the new federal code, the exemption amount for

Pay the total Michigan estate tax due with the return when it

filing a federal estate tax return will increase for tax years

1998 through 2006. Generally, an estate with a gross value

is filed. If an estate tax payment is made before the return is

filed, use Form 2527, Michigan Estate Tax Estimate Voucher.

equal to or less than the exemption amount is not required to

Use the voucher for partial payments or for estimated payments

file a United States Estate (and Generation-Skipping Transfer)

Tax Return ( U.S. 706). Contact the Internal Revenue Service

submitted during an extension. Use the voucher anytime a

payment is submitted without a return to help assure proper

(IRS) for more information.

application of the payment.

Make checks payable to "State of Michigan." Write the

decedent’s name, Social Security number, and “MI-706” on

the front of the check.

Note: The 0.5 percent county collection fee is not required

for estate tax.

Form Mi-706 - Michigan Estate Tax Return Page 5

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