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Michigan Free Printable 4588, Insurance Company Annual Return for Michigan Business and Retaliatory Taxes for 2022 Michigan Insurance Company Annual Return for Michigan Business and Retaliatory Taxes

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Insurance Company Annual Return for Michigan Business and Retaliatory Taxes
4588, Insurance Company Annual Return for Michigan Business and Retaliatory Taxes

Michigan Department of Treasury 4588 (Rev. 04-21), Page 1 of 2 2021 Insurance Company Annual Return for Michigan Business and Retaliatory Taxes Check if this is an amended return. See instructions. Issued under authority of Public Act 36 of 2007. 1. Taxpayer Name )HGHUDO(PSOR\HU,GHQWL¿FDWLRQ1XPEHU )(,1 RU751XPEHU Address (Number, Street) City Check if new address. (See instructions) State ZIP/Postal Code 3. Check if Foreign Insurer Country Code 4. State of Incorporation (use 2 letter abbreviation) DIRECT PREMIUMS WRITTEN IN MICHIGAN Gross direct premiums written in Michigan............................................................................................................. Premiums on policies not taken....................................................................... 6. 00 Returned premiums on canceled policies........................................................ 7. 00 Receipts on sales of annuities ......................................................................... 8. 00 Receipts on reinsurance assumed .................................................................. 9. 00 5. 00 10. Add lines 6 through 9.............................................................................................................................................. 11. Direct Premiums Written in Michigan. Subtract line 10 from line 5. If less than zero, enter zero ..................... 10. 11. 00 00 12. 00 14. Phase out ...................................................................................................... 14. 280,000,000 00 15. Subtract line 14 from line 13. If less than zero, enter zero ........................... 15. 00 16. Exemption reduction. Multiply line 15 by 2 ............................................................................................................. 16. 17. Subtract line 16 from line 12. If less than zero, enter zero ..................................................................................... 18. Adjusted Tax Base. Subtract line 17 from line 11 ................................................................................................... 19. Michigan Business Tax Before Credits. Multiply line 18 by 1.25% (0.0125) ...................................................... 17. 18. 19. 00 00 00 00 5. 6. 7. 8. 9. DISABILITY INSURANCE EXEMPTION 12. Disability insurance premiums written in Michigan, not including credit or disability income insurance, OR $190,000,000, whichever is less .................................................................................................................... 13. Gross direct premiums from all lines of insurance carrier services received everywhere .................................................................................... 13. 00 CREDITS 20. Enter amounts paid from 1/1/2020 to 12/31/2020 to each of the following a. Michigan Workers’ Compensation Placement Facility .............................. 20a. b. Michigan Basic Property Insurance Association ....................................... c. Michigan Automobile Insurance Placement Facility ................................. d. Property and Casualty Guaranty Association ........................................... 20b. 20c. 20d. 00 00 00 00 00 e. Michigan Life and Health Insurance Guaranty Association ...................... 20e. 21. Add lines 20a through 20e...................................................................................................................................... 21. 22. a. Michigan Examination Fees ..................................................................... 22a. 00 b. Credit. Multiply line 22a by 50% (0.50) .............................................................................................................. 22b. 23. 24. 25. 26. 27. Tax Before Miscellaneous Nonrefundable Credits. Subtract lines 21 and 22b from line 19 ............................. Miscellaneous Nonrefundable Credits from Form 4596, line 28............................................................................. Michigan Business Tax After Nonrefundable Credits. Subtract line 24 from line 23. If less than zero, enter zero .. Recapture of Certain Business Tax Credits and Deductions from Form 4587, line 13........................................... Total Michigan Business Tax. Add lines 25 and 26 ............................................................................................ 23. 24. 25. 26. 27. 28. Corporate Income Tax Adjustment from Form 4974, line 20 .................................................................................. 29. Tax Liability. Add lines 27 and 28 .......................................................................................................................... 28. 29. 00 00 00 00 00 00 00 00 00 Return is due March 1, 2022. WITHOUT PAYMENT: Mail return to: Michigan Department of Treasury PO Box 30783 Lansing MI 48909 + WITH PAYMENT: Pay amount on line 58 and mail check and return to: Michigan Department of Treasury Make check payable to “State of Michigan.” Print taxpayer’s PO Box 30113 FEIN or TR Number, the tax year, and “MBT” on the front of Lansing MI 48909 the check. Do not staple the check to the return. 0000 2021 83 01 27 2 Continue and sign on Page 2 2021 Form 4588, Page 2 of 2 FEIN or TR Number Foreign and alien insurers complete lines 30 through 46. Domestic insurers, go to line 47. Use column A to report burdens that would be imposed by the taxpayer’s state of incorporation on a hypothetical Michigan company doing the same business in that state. Use column B to report actual burdens imposed by Michigan on the taxpayer. TAXES A — State of Incorporation 30. State of incorporation tax....................................................................... 31. Tax Liability from line 29 ........................................................................ 30. 31. X X X X X X X X FEES AND ASSESSMENTS 32. $QQXDOVWDWHPHQW¿OLQJIHH .................................................................... 33. &HUWL¿FDWHRI$XWKRULW\UHQHZDOIHH ........................................................ 32. 33. 34. &HUWL¿FDWHRI&RPSOLDQFH ...................................................................... 34. 35. &HUWL¿FDWHRI'HSRVLW ............................................................................. 36. &HUWL¿FDWHRI9DOXDWLRQ........................................................................... 35. 36. 37. 38. 39. 40. 41. 42. 37. 38. 39. 40. 41. Other fees. Include a detailed schedule of fees ................................... Fire Marshall Tax ................................................................................... Second Injury Fund ............................................................................... Silicosis and Dust Disease Fund ........................................................... Safety Education and Training Fund ..................................................... Other assessments. Include a detailed schedule of assessments ....... B — Michigan X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X 42. TOTAL 43. 44. 45. 46. Add lines 30 through 42 ............................................................................. 43. $FFHOHUDWHGDQG&HUWL¿FDWHG5HIXQGDEOH&UHGLWV VHHLQVWUXFWLRQV ..... 44. X X X X X X X X Total Taxes, Fees and Assessments. Subtract line 44 from line 43....... 45. Retaliatory Amount. Subtract line 45, column B, from column A. If less than zero, enter zero............................... 46. 47. Total MBT Tax Liability. Add lines 29 and 46. Domestic insurers, enter amount from line 29 ............................. 47. 00 00 PAYMENTS, REFUNDABLE CREDITS AND TAX DUE 48. Overpayment credited from prior MBT return ......................................................................................................... 49. Estimated tax payments ......................................................................................................................................... 00 00 50. X X X X X X X X 00 51. 00 52. 00 53. 00 48. 49. 50. 51. 52. 53. There is no amount to be entered on this line. Skip to line 51................................................................................ Tax paid with request for extension ........................................................................................................................ Refundable Credits (see instructions) .................................................................................................................... Total Payments. Add lines 48 through 52. (If not amending, then skip to line 55.) ................................................ 54. 00 AMENDED a. Payments made with original and/or prior amended returns . 54a. RETURN b. Overpayments from original and/or prior amended returns .. 54b. 00 ONLY c. Add lines 53 and 54a and subtract line 54b from the sum ... .................................................... 54c. 55. TAX DUE. Subtract line 53 (or line 54c, if amending) from line 47. If less than zero, leave blank ......................... 56. Underpaid estimate penalty and interest from Form 4582, line 38. ........................................................................ 55. 56. 57. Annual return penalty (a) % = (b) 00 plus interest of (c) 00 . Total ....... 57d. 58. PAYMENT DUE. If line 55 is blank, go to line 59. Otherwise add lines 55, 56 and 57d ......................................... 58. 00 00 00 00 00 OVERPAYMENT, REFUND OR CREDIT FORWARD 59. Overpayment. Subtract lines 47, 56 and 57d from line 53 (or line 54c, if amending). If less than zero, leave blank (see instructions)..................................................................................................... 60. CREDIT FORWARD. Amount on line 59 to be credited forward and used as an estimate for next MBT tax year .... 61. REFUND. Amount on line 59 to be refunded.......................................................................................................... 7D[SD\HU&HUWL¿FDWLRQ I declare under penalty of perjury that the information in this return and attachments is true and complete to the best of my knowledge. By checking this box, I authorize Treasury to discuss my return with my preparer. Authorized Signature for Tax Matters Authorized Signer’s Name (print or type) Title + 0000 2021 83 02 27 0 59. 60. 61. 3UHSDUHU&HUWL¿FDWLRQ I declare under penalty of perjury that this return is based on all information of which I have any knowledge. Preparer’s PTIN, FEIN or SSN Preparer’s Business Name (print or type) Date Telephone Number Preparer’s Business Address and Telephone Number (print or type) 00 00 00 Instructions for Form 4588 Insurance Company Annual Return for Michigan Business and Retaliatory Taxes Purpose 7RFDOFXODWHWKHWD[OLDELOLW\DQGWRFODLPFUHGLWVIRULQVXUDQFH FRPSDQLHVIRUERWK0LFKLJDQ%XVLQHVVDQG5HWDOLDWRU\7D[HV NOTE:%HJLQQLQJ-DQXDU\RQO\WKRVHWD[SD\HUVZLWK DFHUWL¿FDWHGFUHGLWZKLFKLVDZDUGHGEXWQRW\HWIXOO\FODLPHG RU XWLOL]HG PD\ HOHFW WR EH 0LFKLJDQ %XVLQHVV 7D[ 0%7  WD[SD\HUV  ,I D WD[SD\HU ¿OHV DQ 0%7 UHWXUQ DQG FODLPV D FHUWL¿FDWHG FUHGLW WKH WD[SD\HU PDNHV WKH HOHFWLRQ WR ¿OH DQG SD\ XQGHU WKH 0%7 XQWLO WKH FHUWL¿FDWHG FUHGLW DQG DQ\ FDUU\IRUZDUGRIWKDWFUHGLWDUHH[KDXVWHG General Instructions MBT Liability: %HJLQQLQJ -DQXDU\   D WD[SD\HU FDOFXODWHV 0%7 OLDELOLW\ DV WKH JUHDWHU RI 0%7 OLDELOLW\ DIWHU DOO FUHGLWV GHGXFWLRQV DQG H[HPSWLRQV RU K\SRWKHWLFDO &,7 OLDELOLW\ PLQXV GHGXFWLRQV DQG FUHGLWV DYDLODEOH XQGHU WKDW DFW DQG PLQXV FHUWL¿FDWHG FUHGLWV DOORZHG XQGHU WKH 0%7  7KLV FDOFXODWLRQ RI OLDELOLW\ UHTXLUHV D WD[SD\HU WR FDOFXODWH WKH SUHPLXPVWD[EDVHDQGDSSO\DYDLODEOH0%7FUHGLWVLQFOXGLQJ FHUWL¿FDWHG FUHGLWV GHGXFWLRQV DQG H[HPSWLRQV DYDLODEOH XQGHU WKH 0%7  7KHQ WKH WD[SD\HU ZLOO FDOFXODWH WKH &,7 FRPSDULVRQRQWKHSchedule of Corporate Income Tax Liability for an Insurance Filer )RUP $WD[SD\HULVSHUPLWWHGWR UHGXFHK\SRWKHWLFDO&,7OLDELOLW\E\DOOGHGXFWLRQVDQGFUHGLWV ZKLFK ZRXOG EH DOORZHG XQGHU WKDW WD[ DV ZHOO DV WKH DPRXQW RI FHUWL¿FDWHG FUHGLW DOORZHG XQGHU WKH 0%7  7KH DPRXQW RI FHUWL¿FDWHG FUHGLW DOORZHG XQGHU WKH 0%7 LV WKH DPRXQW RI QRQUHIXQGDEOH FUHGLW QHHGHG WR R൵VHW 0%7 OLDELOLW\ RU WKH HQWLUHDPRXQWRIDUHIXQGDEOHFUHGLW ,I WKH WD[SD\HU¶V K\SRWKHWLFDO &,7 OLDELOLW\ ZRXOG EH KLJKHU WKDQ LWV 0%7 OLDELOLW\ WKH WD[SD\HU ZLOO DGG WKH GL൵HUHQFH WR 0%7 OLDELOLW\ RQ OLQH  RI WKLV IRUP    7KLV LV WKH &,7 DGMXVWPHQW  ,I WKH UHVXOW RI ERWK VWHSV RI WKH FDOFXODWLRQ LV D QHJDWLYHQXPEHUWKHWD[SD\HUZLOOUHFHLYHDUHIXQGRIWKHORZHU QHJDWLYH EXW D QRQUHIXQGDEOH FUHGLW FDQQRW EH XVHG WR UHGXFH OLDELOLW\EHORZ]HUR5HPDLQLQJQRQUHIXQGDEOHFHUWL¿FDWHGFUHGLW PD\EHFDUULHGIRUZDUGWRVXFFHHGLQJWD[\HDUV Amended Returns: 7R DPHQG D FXUUHQW RU SULRU \HDU DQQXDO UHWXUQ FRPSOHWH WKH )RUP  WKDW LV DSSOLFDEOH IRU WKDW \HDU FKHFNWKHER[LQWKHXSSHUULJKWFRUQHURIWKHUHWXUQDQGDWWDFK DVHSDUDWHVKHHWH[SODLQLQJWKHUHDVRQIRUWKHFKDQJHV,QFOXGHDQ DPHQGHGIHGHUDOUHWXUQRUDVLJQHGDQGGDWHG,QWHUQDO5HYHQXH 6HUYLFH ,56  DXGLW GRFXPHQW ,QFOXGH DOO VFKHGXOHV ¿OHG ZLWK WKH RULJLQDO UHWXUQ HYHQ LI QRW DPHQGLQJ WKDW VFKHGXOH (QWHU WKH ¿JXUHV RQ WKH DPHQGHG UHWXUQ DV WKH\ VKRXOG EH 'R QRW LQFOXGHDFRS\RIWKHRULJLQDOUHWXUQZLWK\RXUDPHQGHGUHWXUQ $ WD[SD\HU PD\ QRW DPHQG WR UHYRNH WKH HOHFWLRQ WR UHPDLQ WD[DEOHXQGHUWKH0%72QFHWKHWD[SD\HUPDNHVDYDOLGHOHFWLRQ WRFODLPDFHUWL¿FDWHGFUHGLWWKHWD[SD\HUPXVWFRQWLQXHWR¿OH WKH0%7XQWLOWKHFUHGLWDQGDQ\FDUU\IRUZDUGRIWKDWFUHGLWDUH H[KDXVWHG Line-by-Line Instructions Lines not listed are explained on the form. 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Extracted from PDF file 2021-michigan-form-4588.pdf, last modified February 2022

More about the Michigan Form 4588 Corporate Income Tax TY 2021

We last updated the Insurance Company Annual Return for Michigan Business and Retaliatory Taxes in March 2022, so this is the latest version of Form 4588, fully updated for tax year 2021. You can download or print current or past-year PDFs of Form 4588 directly from TaxFormFinder. You can print other Michigan tax forms here.


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Other Michigan Corporate Income Tax Forms:

TaxFormFinder has an additional 97 Michigan income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form MI W-4P Withholding Certificate for Michigan Pension or Annuity Payments
Form 4891 CIT Annual Return
Form 4884 Worksheet Form 4884 Section D Worksheet
Form 4763 E-file Authorization for Business Taxes MI-8879 (OBSOLETE)
Form 4567 Business Tax Annual Return

Download all MI tax forms View all 98 Michigan Income Tax Forms


Form Sources:

Michigan usually releases forms for the current tax year between January and April. We last updated Michigan Form 4588 from the Department of Treasury in March 2022.

Show Sources >

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 4588

We have a total of eleven past-year versions of Form 4588 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2021 Form 4588

4588, Insurance Company Annual Return for Michigan Business and Retaliatory Taxes

2020 Form 4588

4588, 2020 Insurance Company Annual Return for Michigan Business and Retaliatory Taxes

2019 Form 4588

4588, 2019 Insurance Company Annual Return for Michigan Business and Retaliatory Taxes

2018 Form 4588

4588, 2018 Insurance Company Annual Return for Michigan Business and Retaliatory Taxes

2017 Form 4588

4588, 2017 Insurance Company Annual Return for Michigan Business and Retaliatory Taxes

2016 Form 4588

4588, 2016 Insurance Company Annual Return for Michigan Business and Retaliatory Taxes


TaxFormFinder Disclaimer:

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.

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Source: http://www.taxformfinder.org/michigan/form-4588