Michigan Tax Amnesty And Tax Returns Guide And Instructons Page 11
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41Business Credit and Alternate Tax for Members of
Line 53, Refundable Credits. If you are claiming a
Controlled Groups (Form C-8009), page 55. Attach
Michigan Economic Growth Authority Employment Tax
completed schedule to your return.
Credit, a Workers’ Disability Supplemental Benefit
(WDSB) Credit or an Apprenticeship Credit, see SBT
Line 45. If you are claiming a small business credit or
Miscellaneous Credits (Form C-8000MC), page 49.
any contribution credits, enter the amount from Form
C-8000C or C-8009. If you are not claiming these
Line 56, Underpaid Estimate Penalty and Interest. If
credits, carry the amount from line 44 to line 45.
you owe penalty and interest for not filing estimated
returns or for underestimating your tax, complete SBT
Line 46, Unincorporated and S-corporation Credit.
Penalty and Interest Computation for Underpaid
Taxpayers who are unincorporated or S-corporations are
Estimates (Form C-8020), page 63, to compute penalty
allowed a credit against the SBT. Multiply line 45 by the
and interest due. If you prefer not to file this form,
percent from the table below and enter the result on line
Treasury will compute your penalty and interest and bill
46.
you.
Unincorporated/S-corporation
Line 57, Annual Return Penalty and Interest. See
Tax Credit Table
“How Do I Compute Penalty and Interest?” on page 8.
Line 58, Payment Due. Enter the amount of payment
If business income* is:
The credit is:
due here and on page 1, line 62.
$20,000 or less ................... 20% of the SBT
Reminder: You must sign and date your return. If
liability.
someone else has prepared your return, they must also
More than $20,000
sign and date the return. See "Who Must Sign the
but less than $40,000 .......... 15% of the liability.
Return?" on page 8. Please print the names in the areas
$40,000 or more ................. 10% of the liability.
provided for the taxpayer and the tax preparer.
*See page 6 for tax years less than 12 months.
FEDERAL FORMS: You must attach copies of these
Line 47, Other Nonrefundable Credits. If you are
federal forms to your return.
claiming an Enterprise Zone Credit, a Michigan
• Corporations - U.S. 1120, 1120A, pages
Economic Growth Authority Business Activity Credit, a
1 - 4. If you file as part of a consolidated federal
Renaissance Zone Credit, a Michigan Historic
return, attach a proforma or consolidated schedule.
Preservation Tax Credit, a Low-grade Hematite Pellet
• S-corporations - U.S. 1120S, pages 1 - 4*
Credit or a Brownfield Redevelopment Credit, see SBT
Miscellaneous Credits (Form C-8000MC), page 49. Note
• Individuals & Fiduciaries - U.S. 1040, Schedules C,
that these credits have strict eligibility requirements.
C-EZ, D and E and 4797.
Line 49, Tax After Nonrefundable Credits. Important:
• Partnerships - U.S. 1065, pages 1 - 4* and 8825.
If your adjusted gross receipts are less than $250,000
• Limited Liability Companies - attach appropriate
enter 0 (zero) on this line.
schedules shown above based on federal return filed.
Adjusted gross receipts are gross receipts, apportioned
for companies doing business outside of Michigan, plus
*Do not send copies of K-1s. We will request them if we
recapture of the capital acquisition deduction. Special
need them.
rules apply to members of a controlled group. See page
4, “Who Must File an SBT Annual Return?”. If your
business operated less than 12 months, annualize gross
receipts to determine if you have a tax liability.
PAYMENTS, REFUNDABLE
CREDITS AND TAX DUE
Line 51. Enter the total tax paid with your SBT quarterly
tax returns (Form C-8002), or the estimated single
business tax paid with the Combined Return for
Michigan Taxes (Form 160). Include all payments made
on returns that apply to the current tax year. For
example, calendar-year filers include money paid with
the combined returns for return periods January through
December.
15
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