Schedule Mi - Manufacturing Investment Credit - 2012
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1
2Manufacturing Investment Credit
MI
Schedule
2012
File with Wisconsin Form 1, 1NPR, 2, 4, 4T, 5, or 5S
Wisconsin Department
of Revenue
Identifying Number
Name
Enter the amount of your manufacturer's sales tax credit carryover that
1
was certified by the Wisconsin Department of Commerce . . . . . . . . . . . . . . . . 1
Divide the amount on line 1 by 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
2
3
Enter amount of manufacturing investment credit passed through from
tax-option (S) corporations (from Schedule 5K-1, line 13) . . . . . . . . . . . . . . . . 3
Add lines 2 and 3. This is your 2012 manufacturing investment credit . . . . . . . 4
4
4a Fiduciaries - enter the amount of credit allocated to beneficiaries . . . . . . . . . . 4a
4b Fiduciaries - subtract line 4a from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b
Carryover of unused manufacturing investment credit (see instructions) . . . . . 5
5
Add lines 4 and 5 (lines 4b and 5 if a fiduciary). This is the available
6
manufacturing investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Instructions for 2012 Schedule MI
Purpose of Schedule MI
Carryforward of Unused Credits
Use Schedule MI to claim the manufacturing invest-
The manufacturing investment credit is nonrefund-
able. If you do not use your 1/15 share of the credit
ment credit. In order for the claimant to receive the
in a tax year, the unused portion may be carried
credit, the claimant’s business must have been certi-
fied by the former Department of Commerce (DOC).
forward for up to 15 years.
Any individual, estate, trust, corporation, or tax-
If there is a reorganization of a corporation claiming
exempt organization whose business is certified by
the manufacturing investment credit, the limitations
the DOC and had a manufacturer’s sales tax credit
provided by Internal Revenue Code section 383 may
carryover to 2006 of more than $25,000 may be
apply to the carryover of any unused credit.
eligible for the credit.
Specific Line Instructions
Credit is Income
Line 1. Fill in the amount of your manufacturer’s
sales tax credit carryover shown on the approved
The credit computed on line 2 of Schedule MI is
income and must be reported on your Wisconsin
copy of your application to the DOC (this is your
franchise or income tax return in the year computed.
certification).
(Note: The amount on line 2 must be included in
Line 3. Fill in the amount of manufacturing investment
income for each taxable year for taxable years be-
ginning in 2008 through taxable years beginning in
credit passed through from tax-option (S) corporations
2022.)
which computed the credit based on manufacturer’s
sales tax credit carryover from years when the entity
did not pass the credit through to shareholders. This
is the amount on Schedule 5K-1, line 13.
IC-068
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