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changed instructions for certain taxpayers for line 24 of Form

100 percent If less than 1 year

4595.

80 percent

If at least 1 year, but less than 2 years

If located in more than one zone, complete and include a

If at least 2 years, but less than 3 years

60 percent

separate Form 4595 for each zone. Add line 25b from each

If at least 3 years, but less than 4 years

40 percent

Form 4595 and enter the sum on Form 4596, line 15.

20 percent

If at least 4 years, but less than 5 years

Claim

only

non-certificated

renaissance

zone

credit on this form. A certificated renaissance zone

Questions regarding federal and State certification may be

credit is calculated on Form 4595 and claimed on

directed to SHPO at (517) 373-1630. For additional information,

the

Schedule

Corporate

Income

Tax

Liability

visit the SHPO Web site at

for a Michigan Business Tax Insurance Filer (Form 4974).

Information about Federal Historic Preservation Tax Incentives

For more information on certificated and non-certificated

is available at

renaissance zone credits, see special instructions to Form 4595.

Brownfield Redevelopment Credit

NOTE: Although Insurance companies do not normally

Beginning January 1, 2012, the brownfield redevelopment

calculate business income, or apportion their tax base

credit may be claimed as a certificated credit if a taxpayer has

by a sales factor, both are required in the calculation of a

a preapproval letter by December 31, 2011, but has not fully

Renaissance Zone credit. Use the Business Income Worksheet

claimed the credit by January 1, 2012.

The credit may be

(Worksheet 4746) to calculate a pro forma business

claimed as either a refundable accelerated credit (on Form

income, and calculate pro forma sales in Michigan and sales

4889) or a non-refundable credit.

Non-refundable credits

everywhere. See instructions for the MBT Annual Return

and non-refundable carryforwards of the credit are claimed

(Form 4567) for guidance on the definition of sales and

here. The credit must first be claimed in the year in which the

applicable sourcing provisions.

certificate of completion is issued.

For more information on Renaissance Zones, contact

Line 20: Complete Form 4584 to claim this credit and

the MEDC at (517) 373-9808 or visit their Web site at

carryforward the resulting overpayment.

For information on the

MBT credit, contact the Michigan Department of Treasury,

The administration of the Brownfield Redevelopment Credit

Customer Contact Division, MBT Unit, at (517) 636-6925.

program is assigned to MEGA. For more information on the

approval process, contact the MEDC at (517) 373-9808.

Historic Preservation Credit

Film Infrastructure Credit

The Historic Preservation Credit provides tax incentives for

homeowners, commercial property owners, and businesses

This credit is available to an insurance company as an assignee

to rehabilitate historic resources located in Michigan.

only.

Rehabilitation projects must be certified by SHPO.

An eligible taxpayer may claim a credit for investment in a

Beginning January 1, 2012, the historic preservation credit is

qualified film and digital media infrastructure project equal

available to the extent that a taxpayer had a Part 2 approval,

to 25 percent of the base investment expenditures for the

approved rehabilitation plan, approved high community

project, provided the taxpayer enters into an agreement with

impact rehabilitation plan or preapproval letter by December

the Michigan Film Office, concurred in by the State Treasurer.

31, 2011, but has not fully claimed the credit before January

The credit is reduced by the amount of any Brownfield

1, 2012. The credit may be claimed as either a refundable

Redevelopment Credit claimed under Section 437 of the

accelerated credit on the Request for Accelerated Payment

MBT Act for the same base investment. If the credit exceeds

for the Brownfield Redevelopment Credit and the Historic

the taxpayer’s tax liability for the tax year, the excess may be

Preservation Credit (Form 4889) or a non-refundable credit.

carried forward to offset tax liability in subsequent years for a

Non-refundable credits and non-refundable carryforwards of

maximum of ten years.

the credit are claimed here. A taxpayer may elect to claim a

certificated historic preservation credit in the year in which

Upon verification that the taxpayer has complied with the

a credit is available and will be taxable under the MBT until

agreement terms and investment expenditures and eligibility

are adequately met, the Michigan Film Office will issue an

the qualifying credit and any carryforward of the credit are

extinguished. The credit must first be claimed in the year

Investment Expenditure Certificate stating the amount of the

that the certificate of completed rehabilitation of the historic

credit. The certificate received must be attached to the return.

resource was issued.

The credit may be assigned in the tax year in which the

Investment Expenditure Certificate is received but any such

Line 17: Complete Form 4584 to claim this credit and

carryforward the resulting overpayment, if any.

assignment is irrevocable. Form 4589 must be attached to the

return on which the credit is claimed.

Line 18a: Recapture from Form 4584, line 2. If the resource

is sold or the certification of completed rehabilitation or

An assigned credit amount must first be claimed against the

preapproval letter is revoked less than five years after the

assignee’s MBT liability during the assignee’s tax year in

historic resource is placed in service, a percentage of the credit

which the credit was assigned.

may be subject to recapture.

Form 4596 - Michigan Business Tax Miscellaneous Credits For Insurance Companies - 2014 Page 5

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