Form 4595 - Michigan Business Tax Renaissance Zone Credit Schedule

Form 4595 - Michigan Business Tax Renaissance Zone Credit Schedule - 2012 Page 5

calculate to zero. Therefore, such a person will not be entitled

to a Renaissance Zone Credit on the Michigan Business Tax

Return. If completing this form you must enter zero on line 24.

Line 22: Taxpayers first located within the Renaissance Zone

before December 31, 2002, ONLY (all others, leave lines 22a

through 22e blank). A taxpayer that is located and conducting

business activity in two Zones will prepare two copies of Form

4595. Base each copy on the taxpayer’s history in the Zone

being reported.

Lines 25a and 25b: For a tax year that begins within one of

the last three years of the Zone’s designation, a reduced credit

is allowed, as follows:

• For a tax year that begins within the second year before the

final year of designation as a Renaissance Zone, 75 percent of

the normally calculated credit is allowed.

• For a tax year that begins within the year before the final

year of designation as a Renaissance Zone, 50 percent of the

normally calculated credit is allowed.

• For a tax year that begins within the final year of

designation as a Renaissance Zone, 25 percent of the normally

calculated credit is allowed.

Line 25b: Multiply line 24 by the reduced credit percentage

provided in the Reduced Credit Table. Carry amount to line 14

of the MBT Miscellaneous Nonrefundable Credits (Form 4573),

or line 15 of the MBT Miscellaneous Credits for Insurance

Companies (Form 4596).

If filing multiple 4595 forms, enter the total of line 25b for

all Zones on Form 4573, line 14, or Form 4596, line 15, as

applicable.

Include completed Form 4595 as part of the tax return filing.

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Form 4595 - Michigan Business Tax Renaissance Zone Credit Schedule - 2012 Page 5