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Form 4575 - Michigan Business Tax Loss Adjustment For The Small Business Alternative Credit - 2014 Page 6

The function of this form is to demonstrate that a taxpayer

that otherwise would have been disqualified from the SBAC

due to ABI, or fully or partially disqualified due to an owner’s

allocated income is, after application of loss adjustment,

allowed to claim a full or partial SBAC.

If loss adjustment is successfully applied to cure an ABI

disqualifier, there is no calculated figure from this form

that feeds to another form. Simply ignore the apparent

disqualification on Form 4571, line 8 and proceed with

calculating the SBAC on the remainder of Form 4571.

If loss adjustment is successfully applied to fully or partially

cure an owner’s allocated income disqualifier, this will be

demonstrated by the final applicable column of line 15 being

blank. In that event, carry the number from line 5 of this form

to Form 4571, line 11 and proceed with the calculation there.

Include completed Form 4575 as part of the tax return filing.

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Form 4575 - Michigan Business Tax Loss Adjustment For The Small Business Alternative Credit - 2014 Page 6