Form 1028 - Annual Property Report - 2012 Page 7
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122012
Application for Tax Credit for Maintenance and Improvement
of Qualified Rolling Stock in Michigan
Section 13a of Public Act 282 of 1905, as amended, allows a credit for eligible expenses incurred in the State of Michigan
by railroad and car companies for maintenance or improvement of eligible companies' qualified rolling stock.
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.
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 rolling stock which are subject to taxation by
the State under PA 282 of 1905 as amended.
Examples of Eligible and Non-Eligible Expenses are listed in the attached instructions.
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.
Company Name
Eligibility
Are you an "eligible company" which has incurred expenses that satisfy ALL of the requirements listed above?
Yes ___
No ___
If Yes, please enter total eligible expenses below.
If No, you are NOT ELIGIBLE for credit. DO NOT SUBMIT EXPENSES.
Total Eligible Expenses for Maintenance and Improvement of Qualified Rolling Stock in Michigan (include labor,
material, overhead, and payments to others for work done).
$
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