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○ Line 5, columns A and B: Leave lines blank.

is, the taxpayer filed an amended return), use only the

information from the latest return filed for that tax year.

○ Line 4, column E: Divide the amount in column C

NOTE: For MBT tax years the taxpayer filed Form 4567 and

by the amount in column B, for each taxable year in

column A, and enter as a percentage.

no Form 4569, enter on line 5A the taxable year end date, and

enter zero for line 5B. Do not enter any information on lines

• Method B:

5A and 5B for MBT years in which the taxpayer filed nothing

○ Line 4, columns A through D: Gather all C-8000ITC

or filed a Form 4583. See Note on Using Simplest Method

forms filed for tax years beginning on or after January

under the heading Calculation of SBT ITC Recapture Rates

1, 2000. (If an amended C-8000ITC was filed, use the

on these instructions. Not filing a Form 4567 does not allow a

figures from the amended form, not the original.) Sort

taxpayer to preserve SBT credit carryforward from one year to

all the returns in chronological order of taxable year end

the next.

date, from earliest to latest date. Starting with the Form

C-8000ITC for the earliest applicable SBT filing period,

UBGs: During tax years ending in 2008 and 2009, UBG

enter the information requested on the table for each

groups were allowed to offset the group liability by

claiming member’s SBT ITC credit carryforward. When

taxable year (use one row for each return).

NOTE: For SBT tax years when the taxpayer filed a C-8000

completing line 5, column B, enter the portion of the total

group SBT ITC credit carryforward used by the group

with no C-8000ITC, or a C-8030, enter on line 4A the taxable

for each year that pertains to the specific member that is

year end date, and enter zero for lines 4B, 4C, and 4D. Do not

completing Form 4585. If the member completing Form

enter any information on lines 4A through 4D for SBT tax

years in which the taxpayer filed nothing OR filed a C-8044.

4585 was not part of a UBG in 2008 and/or 2009 tax years,

and filed as a non-UBG filer, take care to report on lines

If more than one return was filed for the same tax year (that is,

5A and 5B information from the member’s singly filed

the taxpayer filed an amended return), use only the information

from the latest return filed for that tax year.

returns. Likewise, if the member completing Form 4585

was part of another UBG in 2008 and/or 2009 tax years,

○ Line 5, columns A and B: Starting with Form 4569 for

take care to report on line 5A and 5B member information

the earliest 2008 and latest 2009 applicable MBT filing

resulting from using the other UBG’s returns information.

period, enter the information requested on table. If more

Example: In 2008, group ABC files MBT return claiming

than one return was filed for the same tax year (that

Table I: Determining Credit Amount that Offsets Credit Recapture

Taxable Year

(End Date)

In Which MBT ITC

SBT ITC Credit Rate

Disposed Asset Was

SBT Capital

Divide line 4, column C,

Gross SBT ITC Credit Amount

Acquired

by line 4, column B

Multiply column B

Investment Amount

by column C

(MM-DD-YYY)

(C-8000ITC, line 10)

(See Instructions if zero)

Taxable Year

SBT Recapture Capital

SBT Recapture Amount Offset

Gross SBT ITC Credit Recapture

by Credit

(repeat from

Investment Amount

Multiply column F by column C

Lesser of columns D and G

column A)

(C-8000ITC, line 23)

SBT ITC Recapture Rate

Extent Credit Used Rate

Multiply columns C

Taxable Year

SBT ITC Credit Amount

Divide column K

and L. Carry amount to

That offsets SBT liability

Total SBT ITC Credit Amount Used

by column D

Worksheet 4a, line 4,

(repeat from

(from webtool)

Add columns J and H

(cannot be more than 1)

column E

column A)

148

Form 4585 - Michigan Business Tax Investment Tax Credit Recapture From Sale Of Assets Acquired Under Single Business Tax - 2014 Page 6

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