Fillable Form 1028 - Annual Property Report - 2012 (Page 8 of 12) in pdf

Instructions for Completion of the Annual Report by State Assessed Railroads

Who must file this report? (MCL 207.6)

All railroad companies, union station and depot companies, and switching and terminal companies operating in the State

of Michigan pursuant to Section 6 of PA 282 of 1905.

When is this report due? (MCL 207.6)

If your annual gross receipts exceed $1,000,000, this report is due by March 31st.

If your annual gross receipts do not exceed $1,000,000, this report is due by March 15th.

How to submit this report:

This report may be submitted electronically or mailed in paper format. If you wish to submit this form electronically, please

visit the following web site at

or you may call (517) 241-4338 for more

information on how to file electronically. Any company which desires to take advantage of the new online process, will be

able to request an individual secure Personal Identification Number (PIN) by filling out Treasury form 4435. Once the

Personal Identification Number (PIN) is issued, the company can use that PIN to access the site for submitting their

Annual Property Report and any applicable credit applications online. The company can also use the PIN to view

calculation worksheets and tax notices, once all the processing is complete. The secure PIN protects the account, and

restricts access so that only the person which the company authorizes can access or view the information submitted to

the state.

If submitting this form by mail, please complete and sign the declaration on page one and send the entire completed form

to:

Mailing Address:

For Overnight Package Delivery:

Michigan Department of Treasury

Michigan State Tax Commission

P O Box 30471

Austin Building

Lansing, MI 48909-7971

430 W. Allegan Street

Lansing, MI 48922

What property is subject to taxation? (MCL 207.5)

The term "property having a situs in this state", includes all property, real and personal, of the persons, corporations,

companies, co-partnerships and associations enumerated in the act, which is owned, used and occupied by them within

the limits of this state, and also such proportion of their rolling stock, cars, and other property as is used partly within and

partly without this state as provided by PA 282 of 1905.

Schedule 1

List all rolling stock which is owned or leased by you. List the number of units reported as well as reportable current year

costs. Property must be listed at its full original cost new, in the year that it was new. If the original/new acquisition cost

of a railcar that was initially purchased by another company can be obtained, that information must be reported. If the

original/new acquisition cost of a railcar that was initially purchased by another company cannot be obtained, then the

original/new acquisition cost shall be equal to the subsequent price paid by the reporting company upon acquiring the

used railcar. All betterments, including capital improvements, mandated betterments, capital upgrades, safety features,

and mandated repairs should be reported in the year the expenditure is booked as a fixed asset.

The "Costs Reported Prior Year", "Losses", "Additions", and "True Cash Value" columns are for Assessment and

Certification Division (ACD) use only.

To view the values and calculations entered by the Assessment and Certification

Division, please fill out form 4435 to obtain a Personal Identification Number (PIN) for access to the online reporting form

available at (please see "How to submit this report" section above for specific website location).

Tentative Values will be electronically posted on or about May 15th, and Final Values will be electronically posted on or

about June 15th.

Schedule 2

This is to be submitted by all railroads and calls for summary data relating to investment for the company(s) properties in

Michigan. Investment in account 732 (improvements on leased property) shall also be reported on Schedule 2. The

"Previous Year Plant Balance" column is for Assessment and Certification Division office use only. List any retirements

that have occurred during the calendar year immediately preceding the statutory due date of this report.

List the

accumulated depreciation for those retirements in the column designated.

Form 1028 - Annual Property Report - 2012 Page 8

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