Form 4599 - Michigan Business Tax For Financial Institutions Booklet - 2012 Page 14
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42UBGs: Complete Form 4752 before beginning Form 4590.
taxes, file Form 163, which is available on the Treasury Web site
at If the taxpayer is still
Amended Returns: To amend a current or prior year annual
subject to another tax administered by Treasury, do not use this
return, complete the Form 4590 that is applicable for that year,
line. Also, do not use this line if the taxpayer is a UBG and one
check the box in the upper-right corner of the return, and
member has stopped doing business.
attach a separate sheet explaining the reason for the changes.
Include an amended federal return or a signed and dated
Line 7: Use the taxpayer’s Federal Employer Identification
Internal Revenue Service (IRS) audit document. Include all
Number (FEIN) or the Michigan Treasury (TR) assigned
schedules filed with the original return, even if not amending
number. Be sure to use the same account number on all forms.
that schedule. Enter the figures on the amended return as they
If the taxpayer does not have an FEIN or TR number,
should be. Do not include a copy of the original return with
the taxpayer MUST register before filing this form.
your amended return.
Taxpayers
are
encouraged
to
register
online
at
A taxpayer may not amend to revoke the election to remain
The Web site provides
taxable under the MBT. Once the taxpayer makes a valid election
information on obtaining an FEIN, which is required to submit
to claim a certificated credit, the taxpayer must remain in the
taxes through e-file. Taxpayers usually can obtain an FEIN from
MBT until the credit and any carryforward of that credit are
the IRS within 48 hours. Taxpayers registering with the State
exhausted.
online usually receive an account number within seven days.
Line 1: Unless a calendar year, enter the beginning and ending
Returns received without a registered account number will not
dates (MM-DD-YYYY) that correspond to the taxable period
be processed until such time as a number is provided.
as reported to the IRS.
UBGs: Enter the FEIN or TR Number for the DM of the
Tax year means the calendar year, or the fiscal year ending
financial group.
during the calendar year, upon the basis of which the tax base
Line 8: Check the box that describes the DM’s organization
of a taxpayer is computed. If a return is made for a fractional
type. A Trust or a Limited Liability Company (LLC) should
part of a year, tax year means the period for which the return
check the appropriate box based on its federal return.
covers. Generally, a taxpayer’s tax year is for the same period
as is covered by its federal income tax return.
NOTE: A person that is a disregarded entity for federal tax
purposes, including a single member LLC or Q-Sub, must file
Fiscal Year Filers: See “Supplemental Instructions for Fiscal
as if it were a sole proprietorship if owned by an individual, or
MBT Filers — Financial Institutions” in Form 4599.
a branch or division if owned by another business entity.
Line 2: Enter the complete address and, if other than the
Line 8a: If the taxpayer meets the definition of financial institution
United States, enter the two-digit abbreviation for the country
and is filing this form, but is authorized to exercise only trust
code. See the list of country codes in Form 4599.
powers, check this box. See line 23 for additional instructions.
Correspondence about and any refund from this return will
UBG: If any member of a UBG is a financial institution that
be sent to the address used here. Check the new address box
is authorized to exercise only trust powers, the UBG should
if the address used on this line has changed from last filing.
check this box.
The taxpayer’s primary address in Treasury files, identified as
the legal address and used for all purposes other than refund
Line 9: Check this box if filing a Michigan UBG return and
and correspondence on a specific MBT return, will not change
include Form 4752. For MBT, taxpayer means a person or a
unless the taxpayer files a Notice of Change or Discontinuance
UBG liable for tax, interest, or penalty.
(Form 163). Exception: If mail sent to the legal address has
Lines 10a through 10c: A taxpayer may apportion on lines
been returned to Treasury by the United States Postal Service,
10a through 10c only if its business activities are subject
Treasury will update the taxpayers legal address with the
to tax both within and outside of Michigan. A financial
address used on this line in the most recent MBT return.
institution is subject to tax in another state, as that term is
UBGs: In the Name field, enter the name of the DM for the
used here, only if:
financial institutions.
• It is subject to a Business Privilege Tax, a Net Income Tax, a
Line 3: Enter a brief description of the principal types of
Franchise Tax measured by net income, a Franchise Tax for the
financial services in which the taxpayer is engaged.
privilege of doing business, or a corporate stock tax or a tax of
the type imposed under the MBT Act in that other state; OR
Line 4: Enter the start date of first business activity in Michigan.
• That other state has jurisdiction to subject the financial
Line 5: Enter the entity’s six-digit North American Industry
institution to one or more of the taxes listed above regardless
Classification System (NAICS) code. For a complete list of
of whether that state does or does not subject the financial
six-digit NAICS codes, see the U.S. Census Bureau Web site
institution to such a tax.
at , or enter the same NAICS
code used when filing the entity’s U.S. Form 1120, Schedule K,
Under MCL 208.1261(g), gross business means the sum of the
U.S. Form 1120S, or U.S. Form 1065.
following less transactions between those entities included in a UBG:
Line 6: Enter the date, if applicable, on which the taxpayer went
i. Fees, commissions, or other compensation for financial
out of business. To complete the discontinuance for Michigan
services.
14
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