Form 4599 - Michigan Business Tax For Financial Institutions Booklet - 2012 Page 36
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422012 Supplemental Instructions
for Financial Institution Members in Unitary Business Groups (UBGs)
NOTE: These instructions for Unitary Business Groups
the combined filing schedule, and eliminate intercompany
(UBGs) are meant to supplement general instructions and
transactions where applicable, to support the primary return.
form-specific instructions for financial institution taxpayers of
Insurance companies that are part of a UBG will each file
the Michigan Business Tax (MBT), not to replace them.
a separate Form 4588, but should be listed as an excluded
affiliate with an incompatible tax base on Form 4580 or Form
Standard taxpayers and standard members refer to all taxpayers
4752, as applicable.
or UBG members, respectively, other than financial institutions
or insurance companies. Standard members of a UBG should
The Designated Member (DM)
see the “Supplemental Instructions for Standard Members
A UBG combined return of financial institutions is filed under
in UBGs” section in the MBT Forms and Instructions for
the name and Federal Employer Identification Number (FEIN)
Standard Taxpayers (Form 4600).
or Michigan Treasury (TR) assigned number of the DM of the
There is not a corresponding supplement for insurance
financial institution group. Designated Member means a UBG
companies because, although they can be members of a UBG,
member that has nexus with Michigan and will file the combined
they do not file combined returns.
MBT return on behalf of the financial institution members of
the group. In a brother-sister controlled group, any member with
Introductory pages of this MBT instruction booklet contain
nexus may be designated to serve as DM. In a parent-subsidiary
general information designed to assist in identifying
controlled group or a combined controlled group (an interlocking
the existence and membership of a UBG. The following
combination of a parent-subsidiary group and a brother-sister
instructions address:
group), the controlling member must serve as DM if it has nexus
• Filing combined returns by different member types within a
with Michigan. If it does not have nexus, the controlling member
UBG.
may appoint any member with nexus with Michigan to serve as
• Understanding the role of the Designated Member (DM).
DM. That DM must continue to serve as such every year, unless
it ceases to be a group member or the controlling member attains
For each type of UBG member that is reported on a combined
Michigan nexus. The filing period of a combined return is based
return (standard and financial institution), there is a required
on the tax year of the DM.
form that collects data that is necessary for preparation of a
combined return:
If a UBG is comprised of both standard members and financial
institutions, the UBG will have two DMs (one for the standard
• The MBT Unitary Business Group Combined Filing
members completing Form 4567 and related forms, and one for
Schedule for Standard Members (Form 4580) supports a
the financial institution members completing Form 4590 and
combined return of standard members to be filed on the MBT
related forms).
Annual Return (Form 4567).
Role of the DM: The DM speaks, acts, and files the MBT
• The MBT Unitary Business Group Combined Filing
return on behalf of the group for MBT purposes. Only the
Schedule for Financial Institutions (Form 4752) supports a
DM may file a valid extension request for the group. Treasury
combined return of financial institution members to be filed on
maintains the group’s MBT tax data (e.g., prior MBT returns,
the MBT Annual Return for Financial Institutions (Form 4590).
tax credit carryforward, overpayment credit forward) under the
Guidance that is specific to only one form is contained in the
DM’s name and account number. The DM must be of the same
instructions for that form, in sections titled either “Special
taxpayer type (standard or financial institution) as the members
Instructions for Unitary Business Groups” or simply “UBGs.”
for which it files a combined return.
Following are instructions that apply to more than one form.
NOTE: If the UBG filed MBT in 2011 and elected to file MBT
in 2012, then the UBG must use the same DM if the DM still
Special Instructions and the Designated Member
has nexus and is still a member of the UBG in 2012. If the DM
Special Instructions for the Annual Return
no longer has nexus or is no longer a member of the UBG, then
By definition, a UBG can include standard members, insurance
the UBG must select a new DM. If a person with a certificated
companies, and financial institutions. However, in some
credit is a member of a UBG, the Designated Member of the
cases not all members of the UBG will be included on the
UBG, and not the member, shall file a UBG return and pay the
same return. All standard members in a UBG (except those
tax, if any, under the MBTA and claim that certificated credit.
owned by and unitary with a financial institution) file a single
combined return on Form 4567. Financial institution members
Special Instructions for Supporting Forms
of a UBG (including any standard member owned by and
Most forms are completed by UBGs on a group basis. However,
unitary with a financial institution in the group) file a combined
on a combined return of financial institutions members, the
return on Form 4590. Insurance company members of a UBG
following forms must be completed with entity-specific data,
each file separately on Form 4588.
rather than groupwide data:
Before completing a combined return, UBGs should first
• Michigan Historic Preservation Tax Credit (Form 3581)
complete Form 4580 or Form 4752. These forms are used
to gather and combine data from each member included in
• MBT Renaissance Zone Credit Schedule (Form 4595)
36
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