Form 4567 - Michigan Business Tax Annual Return

Taxpayer Certification

check the box in the upper-right corner of the return, and

attach a separate sheet explaining the reason for the changes.

A return filed by a UBG must be signed by an individual

Include an amended federal return or a signed and dated

authorized to sign on behalf of the DM. Provide a telephone

Internal Revenue Service (IRS) audit document. Include all

number for that individual at the DM’s office.

schedules filed with the original return, even if not amending

each schedule. Enter the figures on the amended return as they

General Instructions

should be. Do not include a copy of the original return with

Dates must be entered in MM-DD-YYYY format.

your amended return.

For periods less than 12 months, see the “General Information

NOTE: A taxpayer may not amend to revoke the election to

for Standard Taxpayers” section in Form 4600.

remain taxable under the MBT. Once the taxpayer makes a

valid election to claim a certificated credit, the taxpayer must

A person that is a disregarded entity for federal income tax

remain in the MBT until the credit and any carryforward of

purposes under the internal revenue code shall be classified as

a disregarded entity for the purposes of filing the MBT annual

that credit are exhausted.

return.

Refund Only: If apportioned or allocated gross receipts are

less than $350,000 and there is no recapture, and the taxpayer

A taxpayer, other than a UBG, that does not file a separate

is filing Form 4567 to claim a refund of estimates paid, skip

federal return must prepare a pro forma federal return or

lines 13 through 57 and lines 64 through 67.

equivalent schedule and use it as the basis for preparing its

MBT return. For standard members of a UBG, this pro forma

UBGs: If combined apportioned or allocated gross receipts of

requirement is addressed in Form 4580, Part 2A, and its

all members (before eliminations) is less than $350,000 and

there is no recapture, and the taxpayer is filing Form 4567

instructions.

solely to claim a refund of estimates paid, Form 4580 must also

UBGs: Complete Form 4580 before beginning Form 4567.

be included. The designated member must complete Part 1A,

Answer lines 1 through 8 of Form 4567 as they apply to the

Part 2B (skip lines 18 through 65), Part 3, and Part 4 of Form

DM.

4580. For each member listed in Part 1A, complete Part 1B and

MBT Liability: Beginning January 1, 2012, a taxpayer

2A (skip lines 18 through 65). See Form 4567 for instructions

calculates MBT liability as the greater of MBT liability after

on completing that form.

all credits, deductions, and exemptions or hypothetical CIT

Simplified Calculation

liability minus deductions and credits available under that

act and minus certificated credits allowed under the MBT.

See the “2014 General Information for Standard Taxpayers”

This calculation of liability requires a taxpayer to calculate

under the heading “Computing the Simplified Calculation”

the business income and modified gross receipts tax bases

on Form 4567 for instructions on how eligible taxpayers can

and available MBT credits, including certificated credits,

compute the simplified tax calculation on Form 4567.

deductions, and exemptions available under the MBT. Then,

the taxpayer will calculate the CIT comparison on the Schedule

Line-by-Line Instructions

of Corporate Income Tax Liability (Form 4946). A taxpayer is

permitted to reduce hypothetical CIT liability by all deductions

Lines not listed are explained on the form.

and credits which would be allowed under that tax as well as

Line 1: If not a calendar-year taxpayer, enter the beginning

the amount of certificated credit allowed under the MBT. The

and ending dates (MM-DD-YYYY) that correspond to the

amount of certificated credit allowed under the MBT is the

taxable period as reported to the IRS.

amount of nonrefundable credit needed to offset MBT liability

Tax year means the calendar year, or the fiscal year ending

or the entire amount of a refundable credit.

during the calendar year, upon the basis of which the tax base

If the taxpayer’s hypothetical CIT liability would be higher

of a taxpayer is computed. If a return is made for a part of a

than its MBT liability, the taxpayer will add the difference

year, tax year means the period for which the return is made.

to MBT liability on line 58 of Form 4567. This is the CIT

Generally, a taxpayer’s tax year is for the same period as is

adjustment. If the result of both steps of the calculation is a

covered by its federal income tax return.

negative number, the taxpayer will receive a refund of the

lower negative; but a nonrefundable credit cannot be used

Line 2: Enter the complete address and, if other than the

to reduce liability below zero. Remaining nonrefundable

United States, enter the two-digit abbreviation for the country

certificated credit may be carried forward to succeeding tax

code. See the list of country codes in MBT Forms and

years.

Instructions for Standard Taxpayers (Form 4600) .

Any correspondence regarding the return filed and/or refund

For purposes of this calculation: For a Partnership or S

Corporation, business income includes payments and items

will be sent to the address used here. Check the new address

of income and expense attributable to the business activity of

box if the address used on this line has changed from the last

filing. The taxpayer’s primary address in the Department of

the partnership or S corporation and separately reported to the

Treasury (Treasury) files, identified as the legal address and

members.

used for all purposes other than refund and correspondence on

Amended Returns: To amend a current or prior year annual

a specific MBT return, will not change unless the taxpayer files

return, complete the Form 4567 that is applicable for that year,

a Notice of Change or Discontinuance (Form 163).

Form 4567 - Michigan Business Tax Annual Return - 2014 Page 6

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