Michigan Tax Amnesty And Tax Returns Guide And Instructons Page 16
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41LINE-BY-LINE INSTRUCTIONS
Lines not listed are explained on the form.
Part 3, Gross Receipts Reduction. Complete this
section only if your gross receipts are more than $9
Line 2, Account Number. Enter the same account
million but do not exceed $10 million. Annualize for tax
number used on page 1 of your annual return.
periods less than 12 months.
Note: If you are using this form only to claim
Line 26. If you are not claiming any contribution credits,
contribution credits and are not claiming a small business
enter this amount on your C-8000, line 45.
credit, go to line 28.
Part 4, Contribution Credits. Complete Part 4 only to
Part 1, Adjusted Business Income. Business income is
claim contribution credits.
adjusted by loss carry forwards and carry backs from
Line 29, Community Foundations Credit. A partial
your Single Business Tax Annual Return (Form C-8000).
credit is allowed when you donate to the endowment
It is also adjusted by compensation and director’s fees of
fund of a certified community foundation. A complete
active shareholders and officers from SBT Schedule of
list of Certified Community Foundations is on page 73.
Shareholders and Officers (Form C-8000KC).
Write the foundation code on line 29c. If you do not enter
a proper code, you will not receive a credit.
Part 2, The Small Business Credit. You can compute
either the standard or alternate credit.
Line 31, Homeless Shelter/Food Bank Credit. A partial
credit is allowed when you make a cash donation to a
The alternate tax computation is a simplified way of
qualifying shelter for homeless persons, food kitchen,
computing your SBT while still allowing a small
food bank or other entity whose primary purpose is to
business credit. If you wish to file only the alternate tax,
provide overnight accommodations, food or meals to
you may be able to complete the Single Business Tax
indigent persons. For more information, request Revenue
Simplified Return (Form C-8044) instead. Note that you
Administrative Bulletin 1992-10.
cannot claim contribution credits on the Simplified
Return nor can you calculate the reduced credit
Note: Individuals and fiduciaries claiming credits under
percentage required if an individual, partner in a
section 261 of the Income Tax Act are not eligible for the
partnership or shareholder or officer of a corporation has
Community Foundation Credit or the Homeless Shelter/
allocated income after loss adjustment of more than
Food Bank Credit.
$95,000. You must file a Single Business Tax Annual
Line 33, Public Contribution Credit.
Return (Form C-8000).
•
Corporations, Partnerships and Limited Liability
You may want to compute your tax with the standard
Companies - A partial credit is allowed when you
small business credit and with the alternate credit, then
donate during the taxable year to institutions of higher
choose the credit to your advantage.
learning located in Michigan, Michigan public
libraries, the Michigan colleges foundation, public
Important: If an individual, partner in a partnership or
broadcasting stations located in Michigan and any
shareholder or officer of a corporation has allocated
nonprofit corporation, fund, foundation, trust or
income after loss adjustment of more than $95,000, a
association organized and operated exclusively for the
reduction to the small business credit is required. This
benefit of institutions of higher learning located in
reduction is based on the individual/partner/officer/
Michigan.
shareholder with the largest allocated income. No
reduction is required if allocated income is $95,000 or
Line 34, Public Utility Property Tax Credit.
less. Use the table on page 22 to determine the reduced
•
Corporations - Enter the total of all taxes imposed for
credit that applies to you.
the taxable year under P.A. 282 of 1905. This credit is
Note: For the purpose of computing the small business
for taxes assessed on properties of railroad, telegraph
credit, a member of an LLC is treated as a partner if the
and other public utility companies. Taxpayers whose
business activities consist of transportation services
LLC is taxed as a partnership.
other than oil or gas by pipeline are not eligible for
Line 18b. Enter the percent from the reduced credit
this credit.
table on page 22 and multiply line 18a by that amount.
Line 36. Subtract line 35 from line 32. Enter the result
Enter the result on line 18b.
on your C-8000, line 45.
Line 19. Subtract either line 18a or 18b, whichever
Attach this schedule to your return.
applies, from line 14 and enter on this line.
Note: If your gross receipts are equal to or less than $9
million and you are not claiming any contribution credits
enter this amount on your C-8000, line 45.
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