Form 4572 - Michigan Business Tax Charitable Contribution Credits

Instructions for Form 4572

Michigan Business Tax (MBT) Charitable Contribution Credits

For more information, see Michigan Compiled Law 208.1427,

Purpose

found online at For a donation that

qualifies for this credit, a taxpayer that also is subject to the

To allow standard taxpayers to claim the charitable contribution

credits. Credits are calculated here and then carried to the MBT

Michigan Income Tax Act (PA 281 of 1967) may choose to

Nonrefundable Credits Summary (Form 4568).

claim a credit on the Individual Income Tax return or the MBT

return, but not both.

Note: Financial institutions and insurance companies are not

eligible for these credits.

PUBLIC CONTRIBUTION CREDIT

A partial credit is allowed for Corporations and Partnerships

Note: Beginning January 1, 2012, only those taxpayers

with a certificated credit, which is awarded but not yet fully

(and Limited Liability Companies federally taxed as such) when

donations are made during the taxable year to public broadcast

claimed or utilized, may elect to be MBT taxpayers. If a

taxpayer files an MBT return and claims a certificated credit,

stations located in Michigan, Michigan public libraries,

institutions of higher learning located in Michigan or a nonprofit

the taxpayer makes the election to file and pay under the MBT

until the certificated credit and any carryforward of that credit

corporation, fund, foundation, trust, or association organized

and operated exclusively for the benefit of an institution of

are exhausted. A taxpayer making a valid certificated credit

higher learning, the Michigan Colleges Foundation, and the

election may also claim the credits on this form.

Michigan Housing and Community Development Fund. A

Special Instructions for Unitary Business Groups

taxpayer that also is subject to the Michigan Income Tax Act

(PA 281 of 1967) may not claim this credit under the MBT.

Credits are generally earned and calculated on a group basis,

unless the relevant statute contains entity-specific provisions.

ARTS AND CULTURE CREDIT

These credits, including the ceilings on these credits, are

A partial credit is allowed when donations are made to either of

calculated on a group basis.

the following:

Complete one Form 4572 for the group.

• Category A: A municipality or a nonprofit corporation

affiliated with a municipality and an art, historical, or

Line-by-Line Instructions

zoological institute for the purpose of benefiting the art,

Lines not listed are explained on the form.

historical, or zoological institute, OR

• Category B: An institute devoted to the procurement, care,

Name and Account Number: Enter name and account number

study, and display of objects of lasting interest or value.

as reported on page 1 of the MBT Annual Return (Form 4567).

To calculate the Arts and Culture Credit, a taxpayer may count

Lines 3, 7, 12, and 16: Fiscal Year Filers: See “Supplemental

aggregate contributions to the charities described in Category

Instructions for Standard Fiscal MBT Filers” in the MBT

A above if those contributions exceed $50,000, as well as

Forms and Instructions for Standard Taxpayers (Form 4600).

aggregate contributions to charities described in Category B if

Credits

those contributions exceed $50,000. A taxpayer is not precluded

from taking the credit for donations made to both categories as

COMMUNITY AND EDUCATION FOUNDATIONS CREDIT

long as the taxpayer meets the minimum donation separately for

A partial credit is allowed when donating to the endowment

each category and does not exceed the overall credit limitation of

fund of a certified community foundation or education

$100,000.

foundation. A complete list is in the MBT Forms and

Contributions within a category may be aggregated to reach

Instructions for Standard Taxpayers (Form 4600). If a valid

the $50,000 minimum. However, contributions made to one

code is not entered, a credit will not be allowed. If donations

category may not be aggregated with contributions to the other

were made to more than two foundations, attach a list

to reach the $50,000 minimum.

referencing the additional foundations. For a contribution to

a community foundation endowment, a taxpayer that also is

Line 16: Use the worksheet below to calculate the donation

subject to the Michigan Income Tax Act (Public Act (PA) 281

amount.

of 1967) may choose to claim a credit on the Individual Income

If aggregate contributions to Category A institutions

Tax return or the MBT return, but not both. A contribution to

exceed $50,000, enter that aggregate amount here

an education foundation endowment, however, is available only

under the MBT.

If aggregate contributions to Category B institutions

exceed $50,000, enter that aggregate amount here

HOMELESS SHELTER/FOOD BANK CREDIT

A partial credit is allowed when making a cash donation to a

TOTAL Arts and Culture donation amount ..................

qualifying shelter for homeless persons, food kitchen, food

bank, or other entity whose primary purpose is to provide

overnight accommodations, food, or meals to indigent persons.

Include completed Form 4572 as part of the tax return filing.

0000 2012 31 02 27 8

Form 4572 - Michigan Business Tax Charitable Contribution Credits - 2012 Page 2

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