Form 3581 - Michigan Historic Preservation Tax Credit - 2014 Page 5
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52014 3581, Page 5
Credit needed to offset the taxpayer’s tax liability. Carry the
amount from line 14 to the 2014 Form MI-1040, line 19b.
Line 15: Credit in excess of the tax liability may be carried
forward and used in subsequent years, not to exceed ten years.
Line 16: For credit certificates issued after December 31,
2008, that are less than $250,000, a taxpayer may elect to
forego the carry forward and receive a refund of 90 percent
of the amount of the credit that exceeds the tax liability.
The election to receive a refund must be made in the year
that a certificate of completed rehabilitation is issued and is
irrevocable. Any carry forward from prior years is not subject
to this option. If you choose to receive a refund of the excess
credit amount, complete line 16.
Other Supporting Forms and Schedules
To claim credit, include Form 3581 with the taxpayer’s
Michigan Individual Income Tax Return (Form MI-1040),
Fiduciary Income Tax Return (Form MI-1041), Michigan
Business Tax Annual Return (Form 4567), Insurance Company
Annual Return for Michigan Business and Retaliatory Taxes
(Form 4588), or Michigan Business Tax Annual Return for
Financial Institutions (Form 4590), and attach the documents
listed below to the return:
• Historic Preservation Certification Application, Part 1,
Evaluation of Eligibility, signed and dated
• Historic
Preservation Certification Application Part 3,
Certification of Completed Work, signed and dated
• Copy of “Michigan Verification of Taxable Credit
Eligibility,” if applicable
• A detailed list of qualified expenditures and dates paid.
Each IIT assignee must attach a copy of the letter the assignor
received and a completed Form 3581 with any required
attachments to their Form MI-1040, or Form MI-1041.
Questions
For questions regarding the tax credit, contact Treasury:
• Individual Income Tax: (517) 636-4486
• Michigan Business Tax: (517) 636-6925
For questions regarding federal and state certification, contact
SHPO at (517) 373-1630.
Additional Information
State Historic Preservation Office:
Federal Historic Preservation Tax Incentives:
To obtain Treasury forms:
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