Form 4584 - Michigan Business Tax Election Of Refund Or Carryforward Of Credits, And Calculation Of Historic Preservation And Brownfield Redevelopment Carryforward - 2014 Page 8
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9credit must be claimed beginning with the taxpayer’s first tax
program is assigned to MEGA. For more information on the
approval process, contact the MEDC at (517) 373-9808.
year ending after December 31, 2011, in order for the taxpayer to
remain taxable under the MBT and claim the credit.
Line 38: Enter tax liability before Brownfield Redevelopment
Credit from Form 4573, line 55, or Form 4596, line 19.
For tax years beginning after December 31, 2010 and ending
before January 1, 2012, the credit allowed is $500 for an
Line 39: Recapture. The disposal or transfer to another
equivalent of 4 kilowatt hours of battery capacity plus $125 for
location of personal property used to calculate this credit will
each kilowatt hour of battery capacity in excess of 4 kilowatt
result in an addition to the tax liability of the qualified taxpayer
hours of battery capacity not to exceed $2,000 for each plug-in
that was originally awarded the credit in the year in which
traction battery pack. For tax years beginning after December
the disposal or transfer occurs. This is true even if the credit
31, 2011, and ending before January 1, 2015, the credit per unit
was assigned to someone else. This additional liability will
is decreased to $375 for an equivalent of 4 kilowatt hours of
be calculated by multiplying the same percentage as is used
battery capacity plus $93.75 for each kilowatt hour of battery
to calculate the credit (e.g., 10 percent) times the federal basis
capacity in excess of 4 kilowatt hours of battery capacity not to
of the property used to calculate gain or loss [as calculated for
exceed $1,500 for each plug-in traction battery pack.
federal purposes] as of the date of the disposition or transfer.
The amount otherwise added to the tax liability may also be
A taxpayer shall not claim a credit under this section for more
used to reduce any carryforward of credits available to the
than 3 years.
taxpayer.
If the credit exceeds the tax liability of the taxpayer for the
UBGs: If any member of the UBG is reporting recapture,
tax year, the taxpayer may elect to have the excess refunded or
a statement must be attached to this form identifying the
carried forward to offset tax liability in subsequent tax years
for 10 years or until used up, whichever occurs first. Amounts
reporting member.
carried forward shall not affect the maximum amount of credits
Line 40: Enter only the unused credit from a previous period
that may be claimed in subsequent years.
MBT return. Available SBT credit carryforward is claimed
separately on Form 4569.
For more information, contact MEDC at (517) 373-9808 or visit
the MEDC Web site at
UBGs: Standard taxpayers, enter the unused credit amount
from Form 4580, Part 2B, line 54, column C. Financial
Line 57: UBGs: Enter the unused credit amount from Form
4580, Part 2B, line 57, column C.
institutions, enter the combined total of carryforward amounts
reported on Form 4752, line 31, by all members of the group.
Line 60: Approved businesses receive a certificate from
Line 43: If the Brownfield Redevelopment Credit has been
MEGA each year showing the total amount of tax credit
assigned, attach the MBT Brownfield Redevelopment Credit
allowed. Attach the certificate to the return. (If the certificate
Assignment Certificate to the return. (If the certificate is not
is not attached, the credit will be disallowed.)
attached, the credit will be disallowed.)
Line 63: Add lines 59 and 62b. This is the MEGA Plug-In
Line 46: For the credit to be valid, attach the Certificate
Traction Battery Manufacturing Credit carryforward to be used
of Completion, issued after the completion of the approval
on the taxpayer’s next MBT return.
process, to the return. (If the certificate is not attached, the
Anchor Company Payroll Credit
credit will be disallowed.)
Line 54: Add lines 51 and 53. This amount is the Brownfield
The Anchor Company Payroll Credit is available for a qualified
Redevelopment credit carryforward to be used on the
taxpayer that was designated by MEGA as an anchor company
within the last five years and that has influenced a new
taxpayer’s next MBT return.
qualified supplier or customer to open, locate, or expand in
MEGA Plug-In Traction Battery Manufacturing
Michigan. Beginning January 1, 2012, this credit is available as
Credit
a certificated credit to the extent that the taxpayer has entered
The MEGA Plug-In Traction Battery Manufacturing Credit
into an agreement with MEGA by December 31, 2011, but
the credit has not been fully claimed or paid prior to January
encourages investment in the development, manufacture,
commercialization, and affordability of advanced automotive
1, 2012.
This credit must be claimed beginning with the
taxpayer’s first tax year ending after December 31, 2011, in
high-power energy batteries. The credit is available only to a
taxpayer that has entered into an agreement with MEGA that
order for the taxpayer to remain taxable under the MBT and
provides that the taxpayer will manufacture plug-in traction
claim the credit.
battery packs in Michigan. The taxpayer must attach the
A qualified taxpayer may take a credit up to 100 percent of its
MEGA certificate to the MBT annual return on which the
supplier’s or customer’s payroll for employees who perform
credit is claimed. This credit cannot be claimed for a tax
qualified new jobs multiplied by the Michigan Individual
period ending in 2015 or later.
Income Tax rate. This credit may be taken for a period of up to
Beginning January 1, 2012, this credit is available as a
five years, as determined by MEGA. Any amount that exceeds
certificated credit to the extent that the taxpayer has entered into
the taxpayer’s tax liability may be refunded or carried forward
for ten years or until it is used up, whichever occurs first. To be
an agreement with MEGA by December 31, 2011, but the credit
has not been fully claimed or paid prior to January 1, 2012. This
eligible for the credit, a taxpayer must be certified by MEGA.
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