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NOTE: Sales price includes any benefit derived from the sale.

NOTE: A sale of qualifying property reported on the

installment method for federal income tax purposes causes

If multiple pages of Form 4570, Table 4, are included, carry the

a recapture based upon the entire sale price in the year of

grand total of all line 39 entries to line 10.

the sale. The recapture is reduced by any gain reported in

federal taxable income (as defined for MBT purposes) in

Table 5: Enter all dispositions of depreciable mobile tangible

assets that were acquired in the current filing period and were

the year of the sale. The gain attributable to the installment

ALSO sold or otherwise disposed of during the current filing

sale that is reported in subsequent years increases the credit

period. Give all information required for each disposition in

base (or reduces other sources of recapture) for those years.

For property placed in service prior to January 1, 2008, gain

columns A through F. In column A, enter a short description

reflected in federal taxable income (as defined for MBT

(for example, construction equipment, aircraft, etc.). Enter

gross sales price (net of costs of sale) in column E, and in

purposes) is equal to the gain reported for federal purposes.

column F, enter total gain or loss included in calculating federal

UBGs: If the taxpayer is a UBG, the recapture of capital

taxable income (as defined for MBT purposes).

investments is calculated on combined assets of standard

For property placed in service in the current filing period,

members of the UBG. Assets transferred between members of

gain reflected in federal taxable income (as defined for MBT

the group are not a capital investment in qualifying assets for

purposes of calculating this credit or its recapture. However,

purposes) is the gain reported federally except that it shall be

calculated as if IRC § 168(k) were not in effect.

moving an asset outside of Michigan creates recapture, even if

the transfer is to a member of the UBG.

NOTE: Sales price includes any benefit derived from the sale.

If multiple pages of Form 4570, Table 5, are included, carry the

PA 282 OF 2014

grand total of all line 41 entries to line 13.

Enter information on Tables 4, 5, 6 as explained below

ONLY for assets that are being disposed of in the current

Table 6: Enter all depreciable tangible assets other than mobile

filing period, and that were purchased, acquired, or moved

tangible assets acquired in the current filing period that were

into Michigan ALSO in the current filing period.

eligible for ITC and were ALSO transferred outside Michigan

during the current filing period. Give all information required

Information for assets disposed of in the current filing

for each disposition in columns A through E. In column A, enter

period and purchased, acquired, or moved into Michigan

a short description (e.g., equipment, automobile, etc.) and in

in tax years included in PREVIOUS filing periods must be

column B, enter the Michigan city or township in which the asset

entered on worksheets 1a, 1b, and 1c provided at the end of

was located before its transfer. In column E, enter adjusted basis

the instructions for this form. Recapture for assets that were

as used for federal purposes. Do not use a recomputed MBT

acquired in a tax year beginning before 2008 and disposed

basis for this purpose.

of during the current filing period is reported on Form 4585.

If multiple pages of Form 4570, Table 6, are included, carry the

The total credit recapture for assets reported on worksheets

grand total of all Table 6, column E, entries to line 15.

1a, 1b, and 1c is calculated on Worksheet 2 at the end of this

instructions, and will be reported on line 19 on this form. If

PART 4: RESEARCH AND DEVELOPMENT CREDIT

the filer is also reporting SBT ITC recapture on Form 4585,

Line 29: As used in this part, research and development

add both the total sum from Worksheet 2, column U, and

expenses means that term as defined in IRC § 41(b).

the amount from Form 4585, line 7 and enter the sum on

UBGs: If the taxpayer is a UBG, the Research and Development

line 19 on Form 4579 (this form).

Credit is calculated on the combined research and development

expenses of standard members of the UBG. Intercompany

transactions are not eliminated for this purpose. Qualified

NOTE: For Tables 4 through 6, all events that have varying

dates must be listed separately.

“Various” is not a valid

expenses incurred by members of a UBG that are paid to fellow

entry in a date field. Multiple dispositions (or transfers)

members are included in calculating the group’s credit.

may be combined as one entry, subject to the following: All

Include completed Form 4570 as part of the tax return filing.

combined events must satisfy the terms of the table in which

they are entered. “Date Acquired” must be the same for all

IMPORTANT: Complete the worksheets on the following

events combined on a single line, and “Date Sold” (or “Date

pages for assets disposed (or moved out of Michigan) in

Transferred”) also must be the same.

the current filing period that were purchased, acquired, or

Table 4: Enter all dispositions of depreciable tangible assets

moved into Michigan in a previous tax year beginning after

located in Michigan that were acquired or moved into

December 31, 2007.

Michigan in the current filing period, and were ALSO sold

or otherwise disposed of during the current filing period.

Give all information required for each disposition in columns

A through F. In column A, enter a short description (for

example, equipment, building, etc.). Enter gross sales price

(net of costs of sale) in column E, and in column F, enter total

gain or loss included in calculating federal taxable income (as

defined for MBT purposes).

Form 4570 - Business Tax Credits For Compensation, Investment, And Research And Development - 2014 Page 7

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