Form 4599 - Michigan Business Tax For Financial Institutions Booklet - 2012 Page 40
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
42The historic preservation credit is available as a certificated
zones for which the taxpayer has entered into a qualified
collaborative agreement with the MSF before January 1, 2012.
credit to the extent that a taxpayer had a part 2 approval,
approved rehabilitation plan, approved high community impact
A taxpayer located in a designated renaissance zone that does
rehabilitation plan or preapproval letter before by December
not have a certificated renaissance zone credit but which makes
31, 2011, but has not fully claimed the credit before January 1,
the election to remain taxable under the MBT on the basis of
2012. The brownfield redevelopment credit may be claimed
another certificated credit may also claim this credit.
as a certificated credit if a taxpayer has a preapproval letter
by December 31, 2011, but has not fully claimed the credit by
For purposes of the calculation required for taxpayers first
January 1, 2012. The historic preservation and brownfield credits
located with a Renaissance Zone before December 31, 2002,
may be claimed in a tax year in which credit amount is available.
fiscal year filers may use the 2007 12 month calendar year
amounts for payroll and Renaissance Zone business activity, or
The film infrastructure credit is available to a financial
the final 12 month fiscal year ending in 2007. The same choice
institution as an assignee only. This credit must be claimed
must be made for each component of this calculation.
beginning with the taxpayer’s first tax year ending after
December 31, 2011, in order for the taxpayer to remain taxable
A fiscal year taxpayer’s phase-out percentage for the final
under the MBT and claim the credit.
three years of the Renaissance Zone credit is determined by
the beginning of the taxpayer’s filing period. No proration of
MBT Refundable Credits (Form 4574)
months is allowed.
All credits against the tax must be calculated based on actual
For example:
payments made or actions taken in the period reported.
Renaissance Zone designation expires on December 31, 2010.
The MEGA Employment Tax Credit and MEGA photovoltaic
credit are available as a certificated credit to the extent that
The three years in which the credit is subject to the phase-out
the taxpayer has entered into an agreement with MEGA by
reduction are 2008, 2009, and 2010.
December 31, 2011, but the credit has not been fully claimed
In the taxpayer’s tax year which commences on July 1, 2008,
or paid prior to January 1, 2012. These credits must be claimed
and ends on June 30, 2009, its Renaissance Zone Credit will be
beginning with the taxpayer’s first tax year ending after
reduced by 25 percent.
December 31, 2011, in order for the taxpayer to remain taxable
under the MBT and claim the credit.
In the taxpayer’s tax year which commences on July 1, 2009,
and ends on June 30, 2010, its Renaissance Zone credit will be
The film production credit is available as an assignee only. This
reduced by 50 percent.
credit must be claimed beginning with the taxpayer’s first tax
year ending after December 31, 2011, in order for the taxpayer
In the taxpayer’s tax year which commences on July 1, 2010, and
to remain taxable under the MBT and claim the credit.
ends on July 30, 2011, the business activity factor of the MBT
Act Renaissance Zone Credit is calculated as if the taxpayer was
MBT Unitary Business Group Combined Filing
within the Renaissance Zone for a period less than the full tax
Schedule for Financial Institutions (Form 4752)
year, and that credit amount is reduced by 75 percent.
Line 1: In Part 1A, identify group members whose federal tax
periods end within the filing period of the DM.
Application for Extension of Time to File Michigan
Tax Returns (Form 4)
Line 8: For members with a fiscal tax year ending in 2012,
An extension of time to file is not an extension of time to pay.
enter January 1, 2012 as the beginning date and enter the
ending date of the 2011-2012 fiscal year end as the ending date.
The 2012 portion of the taxpayer’s 2011-12 fiscal year will
be filed under either the new Corporate Income Tax (CIT)
Line 9: This line is used to identify a person that was a
rules of Public Act 38 of 2011 (most taxpayers), or under the
member of the UBG for less than its entire federal tax year due
special continuation of MBT provided by PA 39 of 2011
to changes in ownership or satisfaction of the UBG relationship
(taxpayers with certificated credits from MBT). The Michigan
test. Do not include in line 8 any member that uses a fiscal year
Department of Treasury (Treasury) has granted an automatic
and that reports on this combined return all of its activity from
extension for the 2012 portion of such returns to April 30, 2013.
January 1, 2012 to the end of its 2011-2012 fiscal year.
Despite the automatic extension granted by Treasury for the
2012 short period, any payment that typically would be paid
MBT Renaissance Zone Credit Schedule (Form 4595)
with an extension request must be remitted with a completed
Beginning January 1, 2012, only those taxpayers with a
Form 4 to avoid extension penalty and interest. If no additional
certificated credit, which is awarded but not yet fully claimed
tax is owed, the filing of the form is not necessary.
or utilized, may elect to be MBT taxpayers. A taxpayer with
a certificated renaissance zone credit may make the election
For taxpayers with a fiscal year ending after April 30, 2012,
to remain taxable under the MBT for its first tax year ending
this automatic extension to April 30, 2013, will not reach as far
after December 31, 2011. The certificated renaissance zone
as a conventional extension requested by Form 4. A taxpayer in
credits are the agricultural processing, border crossing, forest
this category that desires an extension beyond April 30, 2013,
products processing, Michigan strategic fund designated and
must file Form 4 for its 2012 short period. Line 1: Fiscal Year
renewable energy renaissance zones for which a taxpayer has
Filers requesting an extension for the portion of their MBT
a development agreement with the Michigan Strategic Fund
activity for the short-year beginning January 1, 2012 must
(MSF) before January 1, 21012, and the tool and die renaissance
check the “Michigan Business Tax” box.
40
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