Michigan Schedule of Partners
Extracted from PDF file 2019-michigan-form-4578.pdf, last modified January 2020
Schedule of PartnersAttachment 08 Michigan Department of Treasury 4578 (Rev. 04-19) 2019 MICHIGAN Business Tax Schedule of Partners Issued under authority of Public Act 36 of 2007. Taxpayer Name (If Unitary Business Group, Name of Designated Member) Federal Employer Identification Number (FEIN) or TR Number Unitary Business Groups Only: Name of Unitary Business Group Member Reporting on This Form Federal Employer Identification Number (FEIN) or TR Number PARTNER IDENTIFICATION 1. A Name (If partner is an Individual, enter Last, First, and Middle Initial) a b c d e f g h i j k l m n o p q B FEIN, TR Number or Social Security Number of Partner C D Share of Business Income* % Owned % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 % 00 2. Total of Column C (% Owned). Cannot exceed 100%...................................................................................................... 2. % 3. Total of Column D (Share of Business Income). Cannot exceed the partnership’s business income. ............................. 3. 00 *If any partner has a share of business income in column D of over $180,000 after loss adjustment, the Partnership is not eligible for the Small Business Alternative Credit. * If any partner has a share of business income in column D of over $135,000, the Partnership is not eligible for the Start-Up Business Credit. If more space is needed, submit additional forms 4578. Identify taxpayer and complete Partner Identification on each additional form. (See instructions.) + 0000 2019 51 01 27 4 Instructions for Form 4578, Michigan Business Tax (MBT) Schedule of Partners For all Partnerships claiming the Small Business Alternative Credit or Start-Up Business Credit Purpose To determine eligibility for the Partnership’s Small Business Alternative Credit. Partnership means a taxpayer that is required to, or has elected to, file as a Partnership for federal income tax purposes. This form also is required to be completed and included as part of the return whenever a Partnership claims a Start-Up Business Credit. A partnership cannot qualify for the Start-Up Business Credit if any partner has a distributive share of more than $135,000. NOTE: A member of a Limited Liability Company (LLC) is characterized for MBT purposes as a partner if the LLC is taxed as a Partnership for federal purposes. NOTE: A federally disregarded entity is required to file as if it were a sole proprietorship if owned by an individual, or a branch or division if owned by another business entity. Line-by-Line Instructions Lines not listed are explained on the form. Name and Account Number: Enter name and account number as reported on page 1 of the MBT Annual Return (Form 4567). If more lines are needed for listing the partners, include additional copies of this form and complete the name, account number, and line 1 for each copy. Unitary Business Groups: Complete one form for each member that is a partnership (including an entity taxed federally as such). Enter the Designated Member name in the Taxpayer Name field and the member to whom the schedule applies on the line below. On the copy filed to report the DM’s data (if applicable), enter the DM’s name and account number on each line. Line 1: Partner Identification • Columns A and B: Identify each partner (including Corporation, Partnership, and Trust) by name. Identify partners who are individuals by Social Security number. Partners that are Corporations, Partnerships, or Trusts should be identified using a Federal Employer Identification Number (FEIN) or Michigan Treasury (TR) assigned number. NOTE: Column B: An individual or foreign entity that does not have a Social Security number or FEIN may enter in Column B “APPLD FOR” (an abbreviation for “applied for”) or “FOREIGNUS” (an abbreviation for “foreign filer”). 102 • Column C: Enter the percentage of profits or capital interest of this Partnership owned by each partner. If a partner owned this interest for a period less than the Partnership’s tax year, multiply that partner’s percentage of ownership by the number of months owned and divide the result by the number of months in this Partnership’s tax year. • Column D: Enter each partner’s distributive share of income, losses, and deductions from U.S. Form 1065, Schedule K-1. Use the Business Income Worksheet (Worksheet 4746) in the MBT Forms and Instructions for Standard Taxpayers (Form 4600) to calculate partnership business income. Attach Worksheet 4746 to the filing. Each partner’s distributive share includes guaranteed payments to partners that are made to that partner. If any partner has a share of business income in column D of over $180,000 after loss adjustment, the Partnership is not eligible for the Small Business Alternative Credit. If any partner has a share of business income in Column D of over $135,000, the Partnership is not eligible for the Start-Up Business Credit. IMPORTANT: For short-period returns, each partner’s share of business income must be annualized to meet these requirements. Annualizing Multiply each applicable amount by 12 and divide the result by the number of months the business operated or the person was a partner. Generally, a business is considered in business for one month if the business operated for more than half the days of the month. NOTE: If the business was in operation for less than a month it is considered to have been in business for 1 month. Line 2: If multiple pages of Form 4578 are included for one separately filing taxpayer, or one member of a UBG, bring the total of all line 1C entries to the main Form 4578. Line 3: If multiple pages of Form 4578 are included for one separately filing taxpayer, or one member of a UBG, bring the total of all line 1D entries to the main Form 4578. Include completed Form 4578 as part of the tax return filing.
4578, 2019 Michigan Business Tax Schedule of Partners
More about the Michigan Form 4578 Corporate Income Tax
We last updated the Schedule of Partners in March 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Michigan Department of Treasury. You can print other Michigan tax forms here.
Other Michigan Corporate Income Tax Forms:
|Form Code||Form Name|
|Form MI W-4P||Withholding Certificate for Michigan Pension or Annuity Payments|
|Form 4884||Pension Schedule|
|Form 4567||Business Tax Annual Return|
|Form 4884 Worksheet||Form 4884 Section D Worksheet|
|Form 4642||Voluntary Contributions Schedule|
Michigan usually releases forms for the current tax year between January and April. We last updated Michigan Form 4578 from the Department of Treasury in March 2020.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Michigan Form 4578
We have a total of nine past-year versions of Form 4578 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
4578, 2019 Michigan Business Tax Schedule of Partners
4578, 2018 MICHIGAN Business Tax Schedule of Partners
4578, 2017 Michigan Business Tax Schedule of Partners
4578, 2016 Michigan Business Tax Schedule of Partners
Form 4578, 2011 Michigan Business Tax Schedule of Partners
While we do our best to keep our list of Michigan Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.