Form 4599 - Michigan Business Tax For Financial Institutions Booklet - 2012 Page 27
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42withheld on behalf of the taxpayer should have provided the
7
Insurance company. (Insurance companies always file
taxpayer with the amount for its records.
separately.)
If an amount is entered on this line, complete the MBT
9
“Standard” taxpayers not owned by a financial
Schedule of Flow-Through Withholding (Form 4966) to
institution.
(Financial
institutions
and
“standard”
account for the Flow-Through Withholding payments received.
taxpayers are not included on the same combined return.)
The amount entered on this line must equal the sum of the
If you have questions, call the Michigan Department of
combined amount from Form 4966, column E.
Treasury, Technical Services Division, at (517) 636-4230, to
Line 36: Only the DM may request a filing extension for a UBG.
discuss an appropriate entry.
If any other member submits an extension request, it will not
Line 37E: If this person has nexus with Michigan, check this box.
create a valid extension for the UBG, but any payment included
with such a request can be credited to the UBG by entering that
Line 37F: Enter this person’s six-digit NAICS code. For a
payment on this line in that member’s copy of Part 2B.
complete list of six-digit NAICS codes, see the U.S. Census
Bureau Web site at , or enter
Part 3: Affiliates Excluded From the Combined
the same NAICS code used when filing U.S. Form 1120S, U.S.
Form 1065, Schedule C of U.S. Form 1040, or Schedule K of
Return of Financial Institutions
U.S. Form 1120.
The statutory test for membership in a UBG is a group of U.S.
persons (other than a foreign operating entity):
Part 4: Persons Included in the Prior Combined
Return, but Excluded From Current Return
• One of which owns or controls, directly or indirectly, more
The purpose of Part 4 is to assist Treasury in tracking
than 50 percent of the ownership interest with voting rights
membership changes of a UBG from year to year. If the reason
or ownership interests that confer comparable rights to voting
the person is not on this return is because it did not satisfy the
rights of the other U.S. persons; and
flow of value, etc., test at any time during the filing period, list
• That has business activities or operations which result in a
the person on line 36, and do not enter it here.
flow of value between or among persons included in the UBG
Line 38C: Reason codes for a person being included in last
or has business activities or operations that are integrated
year’s return but not on the combined return for financial
with, are dependent upon, or contribute to each other. Flow
institutions supported by this form:
of value is determined by reviewing the totality of facts and
circumstances of business activities and operations.
10 The member no longer meets the control test but the
A person that would be a standard taxpayer if viewed
ownership interest is still greater than zero.
separately is defined as a financial institution if it is owned,
12 The member no longer meets the control test and the
directly or indirectly, by a financial institution and is in a UBG
ownership interest is zero.
with its owner.
14 Before the beginning of the filing period for this return,
The purpose of Part 3 is to identify entities for which the
the person ceased to exist due to dissolution.
ownership test described above is satisfied but which are not
16 Before the beginning of the filing period for this return,
included on this combined return, either because the flow of
the person ceased to exist due to a merger or similar
value/integration/dependence/contribution test is not satisfied
combination.
or because the member is excluded by statute. A member
whose net capital is not included in this return because its tax
If the reason is not listed among these reason codes, describe
year ends after the filing period of the UBG also should be
the reason in 21 characters or less in the space provided.
listed here.
Line 37A: If a person being listed here is listed on
Other Supporting Forms and Schedules
U.S. Form 851, enter the identifying number for that person
For each member that files a separate federal return, attach
that is called “Corp. No.” at the left edge of pages 1, 2, and 3 of
copies of the same pages of that member’s federal return as are
U.S. Form 851.
required for a separate filer in similar circumstances. See the
Line 37D: Reason codes for affiliate being excluded from
“Attachments” section of Form 4590 instructions for guidance
on required pages of federal returns.
the combined return of financial institutions supported by this
form.
If some or all members reporting on the current combined
return are also members of a federal consolidated group, each
Lacks business activities resulting in a flow of value or
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member will prepare its portion of this Form 4752 on the basis
integration, dependence, or contribution to group.
of a pro forma federal return. In this case, attach a copy of
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Foreign operating entity.
the applicable pro forma form and schedules as listed in the
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“Attachments” section of Form 4590 instructions.
Foreign entity.
Member has no MBT tax year (as a member of this
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NOTE: A qualified federally disregarded entity that is
UBG) ending with or within this filing period.
eligible to and does file its MBT return as a separate entity
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Other.
from its owner will prepare its MBT return on the basis of a
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