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reflected in federal taxable income (as defined for MBT

Michigan city or township in which the asset was located

purposes) is equal to the gain reported for federal purposes.

before its transfer. In column E, enter adjusted basis as used for

federal purposes. Do not use a recomputed MBT basis for this

UBGs: If the taxpayer is a UBG, the recapture of capital

purpose.

investments is calculated on combined assets of standard

members of the UBG. Assets transferred between members of

If multiple pages of Form 4570, Table 6, are included, carry the

the group are not a capital investment in qualifying assets for

grand total of all Table 6, column E, entries to line 15.

purposes of calculating this credit or its recapture. However,

PART 4: RESEARCH AND DEVELOPMENT CREDIT

moving an asset outside of Michigan creates recapture, even if

Line 29: As used in this part, research and development

the transfer is to a member of the UBG.

expenses means that term as defined in IRC § 41(b).

Note: For tables 4 through 6, all events that have varying

UBGs: If the taxpayer is a UBG, the Research and Development

dates must be listed separately.

“Various” is not a valid

entry in a date field.

Multiple dispositions (or transfers)

Credit is calculated on the combined research and development

expenses of standard members of the UBG. Intercompany

may be combined as one entry, subject to the following: All

transactions are not eliminated for this purpose. Qualified

combined events must satisfy the terms of the table in which

expenses incurred by members of a UBG that are paid to fellow

they are entered. “Date Acquired” must be the same for all

members are included in calculating the group’s credit.

events combined on a single line, and “Date Sold” (or “Date

Include completed Form 4570 as part of the tax return filing.

Transferred”) also must be the same.

table 4: Enter all dispositions of depreciable tangible assets

located in Michigan that were acquired or moved into

Michigan after acquisition in a tax year beginning after 2007

and were sold or otherwise disposed of during the filing

period. Give all information required for each disposition in

columns A through F. In column A, enter a short description

(for example, equipment, building, etc.). Enter gross sales price

(net of costs of sale) in column E, and in column F, enter total

gain or loss included in calculating federal taxable income (as

defined for MBT purposes).

Note: Sales price includes any benefit derived from the sale.

If multiple pages of Form 4570, Table 4, are included, carry the

grand total of all line 39 entries to line 10.

table 5: Enter all dispositions of depreciable mobile tangible

assets that were acquired after 2007 and were sold or otherwise

disposed of during the filing period. Give all information

required for each disposition in columns A through F. In

column A, enter a short description (for example, construction

equipment, aircraft, etc.). Enter gross sales price (net of costs

of sale) in column E, and in column F, enter total gain or loss

included in calculating federal taxable income (as defined for

MBT purposes).

For property placed in service prior to January 1, 2008, gain

reflected in federal taxable income (as defined for MBT

purposes) is equal to the gain reported for federal purposes.

For property placed in service after December 31, 2007, gain

reflected in federal taxable income (as defined for MBT

purposes) is the gain reported federally except that it shall be

calculated as if IRC § 168(k) were not in effect.

Note: Sales price includes any benefit derived from the sale.

If multiple pages of Form 4570, Table 5, are included, carry the

grand total of all line 41 entries to line 13.

table 6: Enter all depreciable tangible assets other than mobile

tangible assets acquired after 2007 that were eligible for ITC

and were transferred outside Michigan during the filing

period. Give all information required for each disposition in

columns A through E. In column A, enter a short description

(e.g., equipment, automobile, etc.) and in column B, enter the

Form 4570 - Business Tax Credits For Compensation, Investment, And Research And Development - 2012 Page 7

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