Form 3614 - Preservation Tax Credit Assignment (Page 4 of 4) in pdf

completed rehabilitation. This date is found on the Historic

percentage in column D. This is the amount of the assignee’s credit.

Preservation Certification Application Part 3 – Request for

Each assignee must enter this amount on the Michigan Historic

Certification of Completed Work.

Preservation Tax Credit (form 3581) line 8. The total of all entries

in column E must equal the amount on line 12.

Line 6 - Organization Type. Check the box that describes the

organization type of the assignor’s business. If the organization is

Signature

a limited liability company that is taxed as a partnership, check

Form 3614 must be signed by the assignor to be valid.

Partnership/LLC-Partnership. If the organization is a limited liability

company that is taxed as a corporation, check Limited Liability

Attachments

Company-Corporation.

For the assignment form to be valid, the partnership, limited

Line 7 - Indicate the Method Used to Assign the Credit. Check the

liability company, or subchapter S corporation who is assigning

method being used to assign the credit. If approval to use an

the credit must attach the items listed below to the completed

alternative method is being requested, attach documentation

form 3614:

explaining this method of assignment.

Historic Preservation Certification Application Part 1 –

Part 2: Credit Calculation.

Evaluation of Eligibility, signed and dated by the Michigan

Historical Center

Line 8 - State Equalized Value (SEV). Enter the amount of the SEV

for the historic resource to be rehabilitated.

Historic Preservation Certification Application Part 3 – Request

for Certification of Completed Work, signed and dated by the

Line 9 - Qualified Expenditures. Enter the qualified expenditures

Michigan Historical Center

for the rehabilitation of the historic resource. Qualified expenditures

must be paid after December 31, 1998, but not more than five

An itemized list of qualified expenditures used to compute the

years after the certification of the rehabilitation plan.

credit. This list must include dates paid.

Line 11 - If eligible, the Federal Rehabilitation Credit must first be

To Claim the Assigned Credit

claimed on U.S. 3468, Investment Credit. Enter the amount from

Each assignee must attach to their MI-1040, MI-1041 or C-8000, an

U.S. 3468, line 1c for property located in Michigan. If qualified

approved form 3614, Michigan Historic Preservation Tax Credit

expenditures for the federal credit include amounts paid before

Assignment, and a completed form 3581, Michigan Historic

December 31, 1998, you must subtract the portion of the federal

Preservation Tax Credit with any required attachments. A

credit that is based on the qualified expenditures reported on line 9.

partnership, limited liability company, or subchapter S corporation

Enter only that portion of the credit that is based on the qualified

who is retaining a portion of the credit must attach the same

expenditures reported on line 9.

information.

Line 12 - Michigan Historic Preservation Tax Credit. Subtract

Where Do I Mail This Form

line 11 from line 10 and enter the results here.

Mail completed form 3614 and attachments to:

Part 3: Assigning the Credit. If the partnership, limited liability

company, or subchapter S corporation is retaining a portion of the

Michigan Department of Treasury

credit, the assignor must enter the requested information in row a.

Return Processing Division

In the following rows enter the requested information for each

Single Business Tax Unit

assignee partner, member, or shareholder. See back of form for

P.O. Box 30059

additional space if needed.

Lansing, MI 48909

Column A - Assignee Account Number. Enter the account number

Treasury Forms are Available From:

of the assignee partner, member, or shareholder. If the assignee is a

business, enter the federal employer identification number (FEIN)

Michigan Department of Treasury Web site at:

or Treasury number assigned (TR). If an assignee is not a business,

enter a social security number (SSN).

1-800-FORM-2-ME (1-800-367-6263)

Column C - Date Assignee’s Tax Year Ends. An assigned credit

Questions

amount must be claimed against the partner’s, member’s, or

shareholder’s SBT liability in the fiscal or calendar year which

Questions regarding the assignment of the credit should be

includes the assignor’s tax year-end. An individual must claim the

directed to the Return Processing Division, Single Business Tax

assigned credit amount in the calendar year in which the assignor’s

Unit at (517) 373-8030. If you have questions regarding federal

tax year ends.

and state certification, contact the State Historic Preservation

Office, Michigan Historical Center, (517) 373-1630

Column D - Percentage of Credit to be Assigned. Enter the

percentage of credit to be assigned to each partner, member, or

Additional Information is Available

shareholder. The method being used to assign the credit was

State Historic Preservation Office -

indicated on line 7. If approval to use an alternative method is being

requested, attach documentation explaining this method of

assignment. The total of Column D must equal 100%.

Federal Historic Preservation Tax incentives

www2.cr.nps.gov/

Column E - Assigned Credit. Multiply the amount on line 12 by the

Form 3614 - Preservation Tax Credit Assignment Page 4

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