Form 4599 - Michigan Business Tax For Financial Institutions Booklet - 2012 Page 17
Download a blank fillable Form 4599 - Michigan Business Tax For Financial Institutions Booklet - 2012 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 4599 - Michigan Business Tax For Financial Institutions Booklet - 2012 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42in this return. Included on this line would be Flow-Through
WORKSHEET – OVERDUE TAX INTEREST
Withholding payments made by flow-through entities whose
00
A. Tax due from Form 4590, line 40 ........
tax years ended with or within the tax year included in this
B. Applicable daily interest percentage ....
return. For example, a calendar year filer would include Flow-
%
C. Number of days return was past due ...
Through Withholding payments made by a flow-through entity
D. Multiply line B by line C ....................
whose tax year ended on or after January 1, 2012, and on or
00
E. Multiply line A by line D ....................
before December 31, 2012. Any flow-through entity that has
withheld on behalf of the taxpayer should have provided the
Carry amount from line E to Form 4590, line 42c.
taxpayer with the amount for its records.
Line 42c: NOTE: If the late period spans more than one
If an amount is entered on this line, complete the MBT
interest rate period, divide the late period into the number
Schedule of Flow-Through Withholding (Form 4966) to
of days in each of the interest rate periods identified in the
account for the Flow-Through Withholding payments received.
“Computing Penalty and Interest” section in Form 4599, and
The amount entered on this line must equal the sum of the
apply the calculations in the “Overdue Tax Interest” worksheet
combined amount from Form 4966, column E.
separately to each portion of the late period.
Line 37: Enter refundable credits from the MBT Refundable
Combine these interest subtotals and carry the total to Form
Credits (Form 4574), line 23.
4590, line 42c.
Only the following are available to a financial institution:
PART 3: REFUND OR CREDIT FORWARD
• MEGA Employment Tax Credit (claimed on Form 4574)
Line 44: If the amount of the overpayment, less any penalty
• Historic Preservation Credit (calculated on Form 4584)
and interest due on lines 41 and 42d is less than zero, enter the
• Brownfield Redevelopment Credit (calculated on Form 4584)
difference (as a positive number) on line 43. If the amount is
greater than zero, enter on line 44.
• Film Production Credit (as assignee only)
• MEGA Photovoltaic Technology Credit (as assignee only).
NOTE: If an overpayment exists, a taxpayer must elect a
refund of all or a portion of the amount and/or designate all or
Amended Returns Only:
a portion of the overpayment to be used as an estimate for the
Line 39a: Enter payment made with original return.
next MBT tax year. Complete lines 45 and 46 as applicable.
Line 39b: Enter overpayment calculated on the original
Line 45: If the taxpayer anticipates an MBT liability in the
return (regardless of whether it was refunded or
filing period subsequent to this return, some or all of any
applied as a credit forward)
overpayment from line 44 may be credited forward to the next
Line 39c: Add lines 38 and 39a and subtract line 39b from
tax year as an estimated payment. Enter the desired amount to
the sum.
use as an estimate for the next MBT of Corporate Income Tax
(CIT) tax year, whichever is applicable.
Line 41: If penalty and interest are owed for not filing
estimated returns or for underestimating tax, complete
Reminder: Taxpayers must sign and date returns. Tax
preparers must provide a Preparer Taxpayer Identification
the MBT Penalty and Interest Computation for Underpaid
Estimated Tax (Form 4582) to compute penalty and interest
Number (PTIN), FEIN or Social Security number (SSN), a
due. If a taxpayer chooses not to file this form, Treasury will
business name, and a business address and phone number.
compute penalty and interest and bill for payment. (Form 4582
is available on the Web at )
Other Supporting Forms and Schedules
Federal Forms: Attach copies of these forms to the return.
Line 42: Enter the annual return penalty rate in line 42a. Add
the overdue tax penalty in line 42b to the overdue tax interest
• Corporations: U.S. Form 1120 (pages 1 through 4),
in line 42c. Enter total in line 42d.
Schedule D, Form 851, Form 4562, and Form 4797. If filing
as part of a consolidated federal return, attach a pro forma or
Refer to the “Computing Penalty and Interest” section in Form 4599
consolidated schedule.
to determine the annual return penalty rate and use the “Overdue
Tax Penalty” and “Overdue Tax Interest” worksheets below.
• S Corporations: U.S. Form 1120-S (pages 1 through 4)*,
Schedule D, Form 851, Form 4562, Form 4797, and Form 8825.
WORKSHEET – OVERDUE TAX PENALTY
• Fiduciaries: U.S. Form 1041 (pages 1 through 2), Schedule
00
A. Tax due from Form 4590, line 40 ........
D, and Form 4797.
B. Late/extension or insufficient
• Limited
Liability
Companies:
Attach
appropriate
%
payment penalty percentage ................
schedules shown above based on federal return filed.
00
C. Multiply line A by line B .....................
* Do not send copies of K-1s. Treasury will request them if
Carry amount from line C to Form 4590, line 40b.
necessary.
17
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form 4752 - Michigan Business Tax Unitary Business Group Combined Filing Schedule For Financial Institutions - 2013
Financial
Form 4575 - Michigan Business Tax Loss Adjustment For The Small Business Alternative Credit - 2012
Financial
Related Categories
Parent category: Financial