Form 4580 - Michigan Business Tax Unitary Business Group Combined Filing Schedule For Standard Members - 2012 Page 18
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19of business activities and operations. (See RAB 2010-2.)
side of that transaction that is included in the group’s current
filing period must be eliminated. The other side of the same
A person that would be a standard taxpayer if viewed
transaction will be eliminated on the group return for the filing
separately is defined and taxed as a financial institution if it is
period in which the other member reports the transaction.
owned, directly or indirectly, by a financial institution and is in
However, there is no elimination with an otherwise related
a UBG with its owner.
entity if the related entity is excluded from the UBG. For
The purpose of Part 3 is to identify persons for which the
example, consider a group with a U.S. parent, a U.S. subsidiary,
ownership test described above is satisfied, but which are not
and a foreign operating entity subsidiary that would otherwise
included on the combined return supported by this form, either
be a UBG, but the foreign operating entity is excluded from the
because the relationship test is not satisfied or because the person
UBG by definition. The U.S. parent filing a UBG return may
is excluded by statute. A new member whose business activity is
not eliminate intercompany transactions between itself and the
not included in the current combined return because its tax year
foreign operating entity.
ends after the filing period of the UBG should also be listed here.
In column B for each line, eliminate the tax consequences
Line 74A: If a person being listed here is listed on
of intercompany transactions that are included in column A
U.S. Form 851, enter the identifying number for that person
of that line. Tax consequences of a transaction include, for
that is called “Corp. No.” at the left edge of pages 1, 2, and 3 of
example, gross receipts, subtractions from gross receipts,
U.S. Form 851.
income,
and
deductions.
Elimination
of
intercompany
transactions does not apply where boxes are filled with Xs in
Line 74D: Reason codes for affiliates being excluded from the
column B.
current combined return:
When Treasury processes the return, an entry in column B
Lacks business activities resulting in a flow of value or
1
will be subtracted from the corresponding entry in column
integration, dependence or contribution to group.
A. Therefore, an elimination that is intended to reduce the
2
Foreign operating entity.
net, groupwide amount of a particular item should be entered
as a positive number. This is the most common situation.
4
Foreign entity.
Occasionally, however, it is appropriate that elimination of an
5
Member has no MBT tax year (as a member of this
intercompany transaction will cause the net, groupwide amount
UBG) ending with or within this filing period.
of that particular item to be greater than the group total before
6
Other.
elimination. In that case, the elimination should be entered as a
Insurance company. (Insurance companies always file
7
negative number.
separately.)
Line 29C: Add the combined total after eliminations from
8
Financial institution. (Financial institutions and standard
Part 2B, line 29C, to the number on Form 4567, line 25, and
taxpayers generally are not included on the same
carry the sum to Form 4567, line 26. This calculation method is
combined return.)
designed to prevent the fact of one member overcharging MGR
If you have questions, call Treasury, Technical Services
Tax to its customers from being obscured by activities of the
Section, at (517) 636-4230, to discuss an appropriate entry.
other members.
Line 74E: If this person has nexus with Michigan, enter a
Line 43C: Business Income Tax Base. Add Column C, lines 30
through 37 and subtract Column C, lines 38 through 42.
check in this box.
Line 74F: Enter the person’s six-digit NAICS code. For a
Line 70: U.S. person is defined in IRC § 7701(a)(30).
complete list of six-digit NAICS codes, see the U.S. Census
Line 72: Flow of value, integration, dependence, and
Bureau Web site at , or enter
contribution in a UBG context are described under “General
the same NAICS code used when filing the U.S. Form 1120,
Information About UBGs in MBT” at the beginning of these
Schedule K; U.S. Form 1120S; U.S. Form 1065; or U.S. Form
instructions for Form 4580, and in RAB 2010-2.
1040, Schedule C.
Part 3: Affiliates Excluded From The Combined Return
Part 4: Persons Included in the Prior Combined
of Standard Taxpayers
Return, but excluded From Current Return
The statutory test for membership in a UBG is a group of U.S.
The purpose of Part 4 is to assist Treasury in tracking
persons (other than a foreign operating entity):
membership changes of a UBG from year to year.
• One of which owns or controls, directly or indirectly, more
NOTE: If a person satisfies the criteria for both Part 3 and
than 50 percent of the ownership interest with voting rights
Part 4, report that person in both parts. This is a change of
or ownership interests that confer rights comparable to voting
procedure from prior MBT forms and instructions.
rights of the other U.S. persons (see RAB 2010-1); and
Line 75C: Reason codes for a person being included in last
• That has business activities or operations which result in a
year’s return but not on the current combined return:
flow of value between or among persons included in the UBG
or has business activities or operations that are integrated with,
are dependent upon, or contribute to each other. Flow of value is
determined by reviewing the totality of facts and circumstances
122
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form 4580 - Michigan Business Tax Unitary Business Group Combined Filing Schedule For Standard Members - 2013
Financial
Form 4580 - Business Tax Unitary Business Group Combined Filing Schedule For Standard Members - 2014
Financial
Form 4910 - Corporate Income Tax Unitary Business Group Combined Filing Schedule For Financial Institutions - 2012
Financial
Form 4910 - Michigan Corporate Income Tax Unitary Business Group Combined Filing Schedule For Financial Institutions - 2012
Financial
Form 4752 - Business Tax Unitary Business Group Combined Filing Schedule For Financial Institutions - 2012
Financial
Form 4752 - 2012 Michigan Business Tax Unitary Business Group Combined Filing Schedule For Financial Institutions
Financial
Form 4752 - 2009 Michigan Business Tax Unitary Business Group Combined Filing Schedule For Financial Institutions
Financial
Form 4752 Draft - Michigan Business Tax Unitary Business Group Combined Filing Schedule For Financial Institutions - 2009
Financial
Related Categories
Parent category: Financial