Form 1028 - Annual Property Report - 2012 Page 12
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12Instructions for Tax Credit for Maintenance and Improvement of
Qualified Rolling Stock in Michigan
Who is eligible for the credit? (MCL 207.13a)
An Eligible Company is defined as: Railroad companies, union station and depot companies, sleeping car companies,
express companies, car loaning companies, stock car companies, refrigerator car companies, fast freight line companies,
and all other companies owning, leasing, running, or operating any freight, stock, refrigerator, or any other cars not the
exclusive property of a railroad company paying taxes upon its rolling stock under this act, over or upon the line or lines of
any railroad in this state.
What expenses are eligible for credit?
Eligible Expenses are expenses for repairs and maintenance that satisfy all of the following criteria:
1. Eligible expenses must have been incurred during the calendar year immediately preceding the statutory due date of
this report.
2. Eligible expenses must have been incurred in the State of Michigan.
3. Eligible expenses must be made for the maintenance or improvement of railcars which are subject to taxation by the
State under PA 282 of 1905 as amended.
Note: Repairs to leased railcars on which the lessor pays the taxes are not eligible for credit claims by the lessee and
vice versa.
Examples:
Eligible expenses include, but are not limited to: repainting, interior or exterior washing, and repair or replacement of car
parts and components.
Expenses which are NOT eligible include, but are not limited to: expenses for repairs or maintenance performed outside
Michigan; expenses for repairs or maintenance on railcars for which the company has no tax liability; expenses for repair,
maintenance or improvement to any railroad right-of-way and track; and expenses for repairs or maintenance not incurred
in the calendar year immediately preceding the statutory due date of this report.
Maximum Credit Available
This credit is not refundable or deferrable. Expenses in excess of a company's property tax liability are not eligible for
credit against prior or subsequent years' liability.
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