Michigan Free Printable 4592, 2016 Michigan Business Tax Forms and Instructions for Insurance Companies for 2017 Michigan Instruction Booklet for Insurance Companies

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Instruction Booklet for Insurance Companies
4592, 2016 Michigan Business Tax Forms and Instructions for Insurance Companies

2016 michigan michigan business Tax returns i n s u r a n c e c o m pa n i e s This booklet contains information on completing a michigan corporate income Ta x r e t u r n f o r c a l e n d a r ye a r 2 01 6 . E-filing your return is easy, fast, and secure! Eighty percent (over 4 million) of all Michigan taxpayers choose e-file. Free e-file is available. Do you qualify? V isit Treasury’s Web site at www.MIfastfile.org for a list of e-file resources, how to find an e-file provider, and more information on free e-file services. w w w. m i Fa s T F i l e . o r g Fi li ng D ue DaT e all Filers — on or beFore march 1 , 2017 w w w. m i c h i g a n . g ov/ b u s i n e s s Ta x e s This booklet is intended as a guide to help complete your return. It does not take the place of the law. Michigan Department of Treasury — 4592 (Rev. 12-16) Important Information for 2016 Michigan Business Tax (MBT) Election Only those taxpayers that have been approved to receive, have received, or have been assigned a certificated credit that has not yet fully been claimed or utilized may elect to be MBT taxpayers. If a taxpayer files an MBT return for its first tax year beginning after December 31, 2011, the taxpayer makes the election to file and pay under the MBT until the certificated credit and any carryforward of that credit are exhausted. Except for taxpayers with certain qualifying brownfield redevelopment or historical preservation certificated credits, the election must be made for the first tax year beginning after December 31, 2011. Once the election is made and the return is submitted, the taxpayer may not amend the return to revoke the election. Find a list of certificated credits in the General Information for Standard Taxpayers in the MBT Forms and Instructions for Standard Taxpayers (Form 4600). If an insurance company does not have a certificated credit, it cannot make the MBT election and is subject to the CIT beginning January 1, 2012. Helpful Hints for Completing an MBT Return Estimates If making estimated payments by Electronic Funds Transfer (EFT), the associated vouchers are not required to be submitted. Amended Returns A return cannot be amended to revoke a valid election to remain taxable under the MBT. To amend a current or prior year annual return, complete the Form 4588 that is applicable for that year, check the box in the upper-right corner of the return, and attach a separate sheet explaining the reason for the changes. Include an amended federal return or a signed and dated Internal Revenue Service (IRS) audit document. Include all schedules filed with the original return, even if not amending that schedule. Enter the figures on the amended return as they should be. Do not include a copy of the original return with your amended return. Accelerated Credits A taxpayer with a certificated credit under section 435 (Historic) or 437 (Brownfield) of the Michigan Business Tax Act (MBTA), or any unused carryforward of such certificated credit that may be claimed in a tax year ending after December 31, 2011, may elect to pay the tax imposed by the MBTA in the tax year in which that certificated credit may be claimed in lieu of the CIT. If a person with a certificated credit under section 435 or 437 that elects to pay the MBT is a member of a Unitary Business Group (UBG), the Designated Member of the UBG, and not the member, shall file a UBG return and pay the tax, if any, under the MBTA and claim that certificated credit. certificate, or reassignment certificate is issued under section 435 to a taxpayer, beginning on or after January 1, 2012, the taxpayer may elect to claim an accelerated refund for 90 percent of the amount of that certificate. If section 437 or 435 provides that payment of a credit will be made over a period of years or limits the annual amount of a payment, an accelerated refund may only be claimed for the amount payable in the year claimed. However, a taxpayer claiming the Special Consideration Historic Preservation Credit under section 435(20) may elect to claim an accelerated refund for the balance of the credit, but the amount of that refund shall be equal to 86 percent of the amount of the credit. For more details, see the 2013 Request for Reduced Refundable Credit Payout for the Brownfield Redevelopment Credit and Historic Preservation Credit (Form 4889). Michigan Tax Forms are online at www.michigan.gov/taxes. An accelerated credit refund will be paid within 60 days after Form 4889 is filed. Brief Overview of the CIT The CIT takes effect January 1, 2012, and replaces the MBT, except for certain businesses that wish to retain certain certificated credits. Among the highlights of the CIT: The CIT applies to all insurance companies unless the insurance company is able to and does make the MBT election. Flow-through entities with tax years beginning before July 1, 2016, may be subject to Flow-Through Withholding. Taxpayers may be required to file quarterly estimated payments as well as an annual return. Annual payments will still be due on the prescribed date of the annual return. Estimated payments will still be due on the prescribed due dates for quarterly estimated returns. For insurance companies, the CIT is equal to 1.25% of gross direct premiums written on property or risk located in Michigan. Insurance companies may claim the Workers’ Disability Supplemental Benefit (WDSB) Credit and certain insurance specific credits under the CIT, if eligible. An entity that has received, has been approved to receive, or has been assigned certain certificated tax credits under MBT may elect to continue to file and pay under the MBT in lieu of the CIT. This election must be made with the annual return filed for the first tax period beginning after 2011 for most certificated credits. The election is also made if a taxpayer files a Form 4889, Claim for Accelerated Credit. For a tax year beginning after December 31, 2011, if a certificate of completion, assignment certificate, or component completion certificate is issued under section 437 to a taxpayer, or if a certificate of completed rehabilitation, assignment 1 2016 General Information for Insurance Companies Standard Taxpayers and Financial Institutions: See the Michigan Business Tax (MBT) Instruction Booklet for Standard Taxpayers (Form 4600) or the MBT Instruction Booklet for Financial Institutions (Form 4599) at www.michigan.gov/taxes. This booklet is intended as a guide to help complete the MBT return. It does not take the place of the law. • MEGA Photovoltaic Technology Credit, as assignee only (Form 4574) Who Files an Insurance Return? Using This Booklet An insurance company is defined to mean an authorized insurer as defined in sections 106 and 108 of the insurance code of 1956, 1956 PA 218, MCL 500.106 and 500.108. Public Act 276 of 2016 amended the insurance code effective July 1, 2016, which now includes a health maintenance organization (HMO) as an “insurer.” If an HMO is an “authorized” “insurer” under the insurance code, is not otherwise exempt from tax, and has made a valid MBT election, that HMO is required to file an MBT insurance return. In the case that an HMO would file as an MBT standard taxpayer for a federal tax year that straddles PA 276’s effective date, two short-year returns (one short-year standard return and one insurance return) will be required for that year. This MBT booklet includes forms and instructions for all insurance filers. Read the General Information first. It is recommended that taxpayers and tax preparers also briefly review the instructions for all forms listed below. There are both nonrefundable and refundable credits available for insurance companies to help reduce the initial calculation of tax. This includes a limited allowance for Single Business Tax (SBT) credit carryforwards. Only those taxpayers that have been approved to receive, have received, or have been assigned a certificated credit that was awarded but not yet fully claimed or paid prior to January 1, 2012 may elect to be MBT taxpayers. For most certificated credits, the election must be made with the taxpayer’s first tax year ending after December 31, 2011. The election is irrevocable once the return is submitted to the Michigan Department of Treasury (Treasury). If a taxpayer files an MBT return, the taxpayer makes the election to file and pay under the MBT until the certificated credit and any carryforward of that credit are exhausted. The Michigan Association and Facilities Credit and the Michigan Examination Fees Credit are claimed on Form 4588. All remaining credits are claimed on the MBT Miscellaneous Credits for Insurance Companies (Form 4596). Some credits are calculated on additional forms, as indicated below. Forms listed below are available on the Web at www.michigan. gov/taxes. All insurance companies that hold a certificated credit or agreement for certificated credit and wish to claim that credit must file the Insurance Company Annual Return for Michigan Business and Retaliatory Taxes (Form 4588). Nonrefundable Credits: • SBT Credit Carryforwards (calculated on the Single Business Tax Credit Carryforwards (Form 4569)). • Compensation Credit (calculated on Form 4596). • Renaissance Zone Credit (calculated on the MBT Renaissance Zone Credit Schedule (Form 4595)). • Brownfield Redevelopment Credit (calculated on the MBT Election of Refund or Carryforward of Credits (Form 4584)). • Historic Preservation Credit (calculated on the Michigan Historic Preservation Tax Credit (Form 3581)). • Film Infrastructure Credit (as assignee only; Form 4596). All insurers, domestic and foreign, must submit copies of Schedule T and the Michigan Business Page when filing this return. Refundable Credits: • Michigan Economic Growth Authority Employment Tax Credit (claimed on Form 4596). What is a Certificated Credit • Workers’ Disability Supplemental Benefit (WDSB) Credit (claimed on Form 4596). • Historic Preservation Credit (calculated on Form 3581). • MEGA Photovoltaic Technology Credit (as assignee only; Form 4596). • Brownfield Redevelopment Credit (calculated on Form 4584). • Film Production Credit (as assignee only; Form 4596). Certificated credits are defined at MCL 208.1107. The certificated credits are either nonrefundable or refundable credits. Below is a list of the certificated credits potentially available to insurance companies, and the respective form used for their calculation. Nonrefundable Certificated Credits: • • • • Renaissance Zone Credit (Forms 4595 and 4573) Historic Preservation Credit (Forms 4584 and 4573) Brownfield Redevelopment Credit (Forms 4584 and 4573) Film Infrastructure Credit, as assignee only (Form 4573) Refundable Certificated Credits: • • • • 2 Historic Preservation Credit (Form 4573) Brownfield Redevelopment Credit (Forms 4584 and 4573) MEGA Employment Tax Credit (Form 4574) Film Production Credit, as assignee only (Form 4574) (MEGA) Overview of MBT for Insurance Companies MBT imposes a tax on insurance companies equal to 1.25 percent of gross direct premiums written on property or risk located in Michigan. There is no filing threshold for insurance companies. Direct premiums do not include: • Premiums on policies not taken. • Returned premiums on canceled policies. • Receipts from the sale of annuities. • Receipts on reinsurance premiums if the tax had been paid on the original premiums. • The first $190,000,000 of disability insurance premiums written in Michigan other than credit insurance and disability income insurance premiums. This exemption is reduced by two dollars for every dollar that an insurance company’s gross direct premiums everywhere (both within and outside of Michigan) exceed $280,000,000. An insurance company is subject to tax as calculated under MBT or the retaliatory tax under Michigan Compiled Law (MCL) 500.476a, whichever is greater. The tax imposed under Chapter 2A of the MBT Act is in lieu of all other privilege and franchise fees or taxes, except for real and personal property taxes and sales and use taxes. Required CIT Comparison MBT liability is calculated as the higher of MBT or hypothetical CIT liability. A taxpayer must pay the higher of the two or take the lesser refund. A taxpayer calculates the premiums tax and surcharge of the MBT and applies all credits, including certificated credits, deductions, and exemptions available under the MBT. Then, as if they were subject to the CIT, taxpayers calculate the premiums tax under the CIT and apply deductions available under the CIT. The hypothetical CIT liability is then reduced (not below zero) by the amount of certificated nonrefundable credit used to offset the MBT liability. The hypothetical CIT liability offset by certificated nonrefundable MBT credits is further reduced by the total amount of certificated refundable credits claimed under the MBT liability calculation, resulting in the taxpayers’ final hypothetical CIT liability. Taxpayers’ final MBT liability consists of the higher of the calculated MBT and hypothetical CIT liabilities. If both MBT and hypothetical CIT liabilities result in tax refunds (negative liability), taxpayers are entitled to the lower refund amount. Specific forms are provided to perform the MBT to CIT comparison and determine the tax liability or refund. Michigan Schedule of Corporate Income Tax Liability for a Michigan Business Tax Filer (Form 4946) is used for the standard taxpayer comparison. Michigan Schedule of Corporate Income Tax Liability for a Michigan Business Tax Insurance Filer (Form 4974) is used for the insurance company’s comparison. Michigan Schedule of Corporate Income Tax Liability for a Michigan Business Tax Financial Filer (Form 4975) is used for the financial institution’s comparison. Filing MBT/CIT Quarterly Tax Estimates If estimated liability for the year is reasonably expected to exceed $800, a taxpayer must file estimated returns. A taxpayer may remit quarterly estimated payments by check with a Corporate Income Tax Quarterly Return (Form 4913) or may remit monthly or quarterly estimated payments electronically by Electronic Funds Transfer (EFT). When payments are made by EFT, Form 4913 is not required. Estimated returns and payments for calendar year taxpayers are due to Treasury by April 15, July 15, October 15, and January 15 of the following year. Fiscal year taxpayers should make returns and payments by the appropriate due date which is fifteen days after the end of each fiscal quarter. The sum of estimated payments for each quarter must always reasonably approximate the liability for the quarter. NOTE: Your debit transaction will be ineligible for EFT if the bank account used for the electronic debit is funded or otherwise associated with a foreign account to the extent that the payment transaction would qualify as an International ACH Transaction (IAT) under NACHA Rules. Contact your financial institution for questions about the status of your account. Contact the Michigan Department of Treasury’s (Treasury) EFT Unit at 517-636-6925 for alternate payment methods. The estimated payment made with each quarterly return must be computed on the actual CIT for the quarter, or 25 percent of the estimated total liability if paying a CIT liability. To avoid interest and penalty charges, estimated payments must equal at least 85 percent of the total liability for the tax year and the amount of each estimated payment must reasonably approximate the tax liability for that quarter. If the prior year’s tax under the MBT Act is $20,000 or less, estimated tax may be based on the prior year’s total tax liability paid in four equal installments. (“Four equal installments” describes the minimum pace of payments that will satisfy this safe harbor.) If the prior year’s tax liability was reported for a period less than 12 months, this amount must be annualized for purposes of both the $20,000 ceiling and calculating the quarterly payments due under this method. Payments at a more accelerated pace also will qualify. If the year’s tax liability is $800 or less, estimates are not required. NOTE: For those continuing to file MBT, reliance on the tax liability of the prior year as a means to avoid interest and penalty charges is only allowed if you had business activity in Michigan in that prior year. A return must be filed to establish the tax liability for that prior year, even if gross receipts in the prior year were less than $350,000. In addition, if your business was not in existence in the preceding year, no safe harbor exists. In such a case, estimates must be based on the MBT liability for the current year. For those filing CIT, there is no safe harbor in this first year of CIT filing. The estimates must equal at least 85 percent of the total liability as stated above. Amending Estimates If, after making payments, the estimated tax is substantially different than originally estimated, recompute the tax and adjust the payment in the next quarter. Electronic Filing of MBT Returns Michigan has an enforced MBT e-file mandate. Software developers producing MBT tax preparation software and computer-generated forms must support e-file for all eligible Michigan forms that are included in their software package. All eligible MBT returns prepared using tax preparation software or computer-generated forms must be e-filed. Treasury will be enforcing the MBT e-file mandate. The enforcement includes not processing computer-generated paper 3 returns that are eligible to be e-filed. A notice will be mailed to the taxpayer, indicating that the taxpayer’s return was not filed in the proper form and content and must be e-filed. Payment received with a paper return will be processed and credited to the taxpayer’s account even when the return is not processed. Treasury will continue to accept certain Portable Document Format (PDF) attachments with MBT e-filed returns. A current list of defined attachments is available in the “Michigan Tax Preparer Handbook for Electronic Filing Programs,” which is available on the Treasury Web site at www.MIfastfile.org by clicking on “Tax Professionals” and then “Tax Preparer.” Look for the handbook for the applicable tax year. Follow your software instructions for submitting attachments with an e-filed return. • Leave lines/boxes blank if they do not apply or if the amount is zero, unless otherwise instructed. • Do not enter data in boxes filled with Xs. • Do not write extra numbers, symbols, or notes on the return, such as cents, dashes, decimal points (excluding percentages), or dollar signs unless otherwise instructed. Enclose any explanations on a separate sheet unless instructed to write explanations on the return. • Date format, unless otherwise specified, should be in the following format: MM-DD-YYYY. Use dashes (-) rather than slashes (/). • Enter phone numbers using dashes (e.g., 517-555-5555); do not use parentheses. If the MBT return includes supporting documentation or attachments that are not on the predefined list of attachments, the return can still be e-filed. Follow your software instructions for including additional attachments. The tax preparer or taxpayer should retain file copies of all documentation or attachments. • Stay within the lines when entering information in boxes. For more information and program updates, including exclusions from e-file, visit the e-file Web site at www.MIfastfile.org. • Percentages should be carried out four digits to the right of the decimal point. Do not round percentages. For example, 24.154266 percent becomes 24.1542 percent. When converting a percentage to a decimal number, carry numbers out six digits to the right of the decimal point. For example, 24.154266 percent becomes 0.241542. The taxpayer may be required to e-file its federal return. Visit the Internal Revenue Service (IRS) Web site at www.irs.gov for more information on federal e-file requirements and the IRS Federal/State Modernized e-File (MeF) program. Complete Federal Tax Forms First Before preparing MBT returns, complete all federal tax forms. These forms may include: • Fiduciaries — U.S. Form 1041, 1065, and related Schedules C, C-EZ, D, E, K, 4797, and 8825. • Corporations — U.S. Form 1120, 1120-S, and Schedules D, K, 851, 940, 4562, 4797, and 8825. • Limited Liability Companies (LLCs) — federal forms listed above, depending on how federal returns have been filed. Reference these federal forms to complete Form 4588. Copies of certain pages from these federal forms must also be attached to the annual return filed. See the instructions for Form 4588 for further details. Completing Michigan Forms Treasury captures the information from paper MBT returns using an Intelligent Character Recognition process. If completing a paper return, avoid unnecessary delays caused by manual processing by following the guidelines below so the return is processed quickly and accurately. • Use black or blue ink. Do not use pencil, red ink, or felt tip pens. Do not highlight information. • Print using capital letters (UPPER CASE). Capital letters are easier to recognize. • Print numbers like this: 012345678. Do not put a slash through the zero ( ) or seven ( 7). • Fill check boxes with an [X]. Do not use a check mark [a]. 4 • Report losses and negative amounts with a negative sign in front of the number (do not use parentheses). For example, a loss in the amount of $22,459 should be reported as -22,459. • Report all amounts in whole dollars. Round down amounts of 49 cents or less. Round up amounts of 50 cents or more. If cents are entered on the form, they will be treated as whole dollar amounts. Suggested Order of Analysis and Preparation of an Insurance Company Annual Return First, determine whether the taxpayer has a certificated credit. If the insurance company taxpayer does not have a certificated credit, it is subject to the CIT. Complete Form 4588, lines 1 through 23. At that point, if any miscellaneous credits will be claimed, begin with Form 4596, which serves several important functions: • Acts as a checklist for all miscellaneous credits for insurance companies • Calculates refundable credits • Identifies the order in which nonrefundable credits must be claimed • Identifies the form on which each nonrefundable credit is calculated • Tracks tax liability as it is reduced by each credit in proper order • Identifies (where applicable) the point at which tax liability reaches zero and no further nonrefundable credits may be claimed in the current filing period. • Complete Form 4596 according to its instructions. For each applicable credit, calculate the credit as identified on the appropriate form and bring the result back to the appropriate line on Form 4596. After total nonrefundable credits amount is determined on Form 4596, line 28, carry the figure to Form 4588, line 24. Total refundable credits amount calculated on Form 4596, line 5, is carried to Form 4588, line 52. Insurance companies that are foreign or alien insurers must calculate a retaliatory tax on Form 4588, lines 30 through 46. The retaliatory tax requires a foreign insurer to pay the same type of obligation that a similar Michigan insurer is required to pay in the company’s state of domicile. Domestic insurers do not calculate a retaliatory tax. Further General Guidance For purposes of MBT, person means an individual, firm, bank, financial institution, insurance company, limited partnership, limited liability partnership, copartnership, partnership, joint venture, association, corporation, S corporation, LLC, receiver, estate, trust, or any other group or combination of groups acting as a unit. A taxpayer includes a single person or a UBG liable for tax, interest, or penalty. A UBG must file a combined MBT return (addressed in the “UBGs and Combined Filing” section of this General Information). Limited Liability Company. An LLC is classified for MBT purposes according to its federal tax classification. The following terms, whenever used in MBT forms, instructions, and statute, include LLCs as indicated: • S Corporation includes an LLC federally taxed as an S Corporation, and a member of this LLC is a shareholder. • C Corporation includes an LLC federally taxed as a C Corporation, and a member of this LLC is a shareholder. A member or other person performing duties similar to those of an officer in a true corporation is an officer in this LLC. NOTE: In this booklet, the term “corporation,” used without a C or S, generally refers to both types. Insurance companies are not specifically excluded from the statutory definition of a UBG, and thus may be members of a UBG. However, the tax on authorized insurance companies is equal to 1.25 percent of gross direct premiums written on property or risk located or residing in Michigan. There is no traditional apportionment for insurance companies. Thus, even when an authorized insurance company is unitary with another authorized insurance company, this will have no effect in calculating the tax. As a result, a combined return is not required and each insurance company member of a UBG will file separately on Form 4588. General Information About UBGs Unitary Business Group means a group of United States persons, other than a foreign operating entity, that satisfies the following criteria: One of the persons owns or controls, directly or indirectly, more than 50 percent of the ownership interest with voting rights (or rights comparable to voting rights) of the other United States persons; AND The UBG has operations that result in a flow of value between persons included in the UBG or has operations that are integrated with, are dependent upon, or contribute to each other. Flow of value is determined by reviewing the totality of facts and circumstances of business activities and operations. United States person is defined in Internal Revenue Code (IRC) § 7701(a)(30). A foreign operating entity is defined by statute in MCL 208.1109(5). For more information on the control and relationship tests for UBGs, see Revenue Administrative Bulletin (RAB) 2010-1, MBT—Unitary Business Group Control Test, and RAB 20102, MBT—Unitary Business Group Relationship Tests, on the Treasury Web site at www.michigan.gov/treasury/, under “Reports and Legal Resources.” Disregarded Entities: Public Act 305 was enacted into law on December 27, 2011, to add Michigan Compiled Law 208.1512 to the MBT. This section provides that a person that is classified as a disregarded entity for federal purposes is classified as a disregarded entity for MBT purposes. This means that a disregarded entity for federal tax purposes, including a single member LLC or Q-Sub, must file as if it were a sole proprietorship if it is owned by an individual, or a branch or division if the branch or division is owned by another business entity. Exemption Guidelines The tax imposed and levied under the MBT Act does not apply to an insurance company authorized under Chapter 46 or 47 of the Insurance Code of 1956, PA 218 of 1956, MCL 500.4601 to 500.4673, and MCL 500.4701 to 500.4747. Unitary Business Groups (UBGs) and Combined Filing Due Dates of Annual Returns Special UBG Instructions for Insurance Companies By definition a UBG (as defined below) can include insurance companies, standard taxpayers, and financial institutions. However, in some cases not all members of the UBG will be included on the same return. All standard taxpayer members in a UBG (except those owned by and unitary with a financial institution) file a single combined return on the MBT Annual Return (Form 4567). Financial institution members of a UBG (and any standard taxpayer owned by and unitary with a financial institution in the group) file a combined return on the MBT Annual Return for Financial Institutions (Form 4590). Filing the Correct Form A different primary return and instruction booklet are required for standard taxpayers (Form 4567) and financial institutions (Form 4590). The tax year of an insurance company is the calendar year. An insurance company must file the annual return before March 2 after the end of the tax year. The extension that is available to the standard taxpayer under MCL 208.1505(4) is not available to insurance companies. Amending a Return A taxpayer may not amend to revoke the election to remain taxable under the MBT. Once the taxpayer makes a valid election to claim a certificated credit, the taxpayer must remain in the MBT until the certificated credit and any carryforward of that credit are exhausted. Most certificated credits must be claimed for the taxpayer’s first tax year ending after December 31, 2011. 5 To amend a current or prior year annual return, complete Form 4588 that is applicable for that year and check the box in the upper-right corner of the return, and attach a separate sheet explaining the reason for the changes. Include all schedules filed with the original return, even if not amending that schedule. Enter the figures on the amended return as they should be. Do not include a copy of the original return with your amended return. Current and past year forms are available on Treasury’s Web site at www.michigan.gov/treasuryforms. To amend a return to claim a refund, file within four years of the original return’s due date. Interest will be paid beginning 45 days after the claim is filed or the due date, whichever is later. If amending a return to report a deficiency, penalty and interest may apply from the due date of the original return. If any changes are made to a federal income tax return that affect an MBT tax base, filing an amended return is required. To avoid penalty, file the amended return within 120 days after the final determination by the IRS. Computing Penalty and Interest Annual and estimated returns filed late or without sufficient payment of the tax due are subject to a penalty of 5 percent of the tax due, for the first two months. Penalty increases by an additional 5 percent per month, or fraction thereof, after the second month, to a maximum of 25 percent. Compute penalty and interest for underpaid estimates using the MBT Penalty and Interest Computation for Underpaid Estimated Tax (Form 4582). If a taxpayer prefers not to file this form, Treasury will compute the penalty and interest and send a bill. The following chart shows the interest rate that applies to each filing period. A new interest rate is set at 1 percent above the adjusted prime rate for each six-month period. Beginning Date Rate Daily Rate January 1, 2016 4.25% 0.0001161 July 1, 2016 4.4% 0.0001202 January 1, 2017 4.5% 0.0001233 For a complete list of interest rates, see the Revenue Administrative Bulletins on Treasury’s Web site at www.michigan.gov/treasury/, under “Reports and Legal Resources.” Signing the Return All returns must be signed and dated by the taxpayer or the taxpayer’s authorized agent. This may be the owner, partner, corporate officer, or association member. The corporate officer may be the president, vice president, treasurer, assistant treasurer, chief accounting officer, or any other corporate officer (such as tax officer) authorized to sign the corporation’s tax return. If someone other than the above prepared the return, the preparer must give his or her business address and telephone number. 6 Print the name of the authorized signer and preparer in the appropriate area on the return. Assemble the returns and attachments (in sequence order) and staple in the upper-left corner. (Do not staple a check to the return.) In an e-filed return the preparation software will assemble the forms and PDF attachments in the proper order automatically. IMPORTANT REMINDER: Failure to include all the required forms and attachments will delay processing and may result in reduced or denied refund or credit forward or a bill for tax due. Signing an e-file return As with any tax return submitted to Treasury on paper, an electronic tax return must be signed by an authorized tax return signer, the Electronic Return Originator (ERO), if applicable, and the paid tax preparer, if applicable. NOTE: If the return meets one of the exceptions to the e-file mandate and is being filed on paper, it must be manually signed and dated by the taxpayer or the taxpayer’s authorized agent. The MBT Fed/State e-file signature process is as follows: Fed/State Returns: Michigan will accept the federal signature method. Michigan does not require any additional signature documentation. State Stand Alone Returns: State Stand Alone returns must be signed using Form MI-8879 (also called the Michigan e-file Authorization for Business Taxes MI-8879, Form 4763). Returns are signed by entering the taxpayer PIN in the software after reading the perjury statement displayed in the software. The taxpayer PIN will be selected by the taxpayer, or the taxpayer may authorize his or her tax preparer to select the taxpayer PIN. Form MI-8879 will be printed and contain the taxpayer PIN. The tax preparer will retain Form MI-8879 in his or her records as part of the taxpayer’s printed return. MBT State Stand Alone e-filings submitted without a taxpayer PIN will be rejected by Treasury. Do not mail Form MI-8879 to Treasury and do not include Form MI-8879 as an attachment with the e-file return. Mailing Addresses Mail the annual return and all necessary schedules to: With payment: Michigan Department of Treasury PO Box 30113 Lansing MI 48909 Without payment: Michigan Department of Treasury PO Box 30783 Lansing MI 48909 Mail quarterly estimate payments (Form 4913) to: Michigan Department of Treasury PO Box 30774 Lansing MI 48909-8274 Courier delivery service mail should be sent to: Michigan Department of Treasury 7285 Parsons Dr. Dimondale MI 48821 Make all checks payable to “State of Michigan.” Print taxpayer’s FEIN or TR Number, the tax year, and “MBT” on the front of the check. Do not staple the check to the return. Correspondence An address change or business discontinuance can be reported online by using Michigan Treasury Online (MTO), Business Tax Services. See www.michigan.gov/mtobusiness for information. In the alternative, Notice of Change or Discontinuance (Form 163), can be found online at www.michigan.gov/treasuryforms. Mail correspondence to: Business Tax Division, MBT Unit Michigan Department of Treasury PO Box 30059 Lansing MI 48909 To Request Forms Internet Current and past year forms are available on Treasury’s Web site at www.michigan.gov/treasuryforms. Alternate Format Printed material in an alternate format may be obtained by calling (517) 636-6925. TTY Assistance is available using TTY through the Michigan Relay Center by calling 1-800-649-3777 or 711. 7 8 Michigan Department of Treasury 4588 (Rev. 04-16), Page 1 2016 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 2. Federal Employer Identification Number (FEIN) or TR Number 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 5. 00 10. 11. 00 00 12. Disability insurance premiums written in Michigan, not including credit or disability income insurance, OR $190,000,000, whichever is less .................................................................................................................... 12. 00 13. Gross direct premiums from all lines of insurance carrier services received everywhere .................................................................................... 13. 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 ............................................................................................................. 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) ...................................................... 16. 17. 18. 19. 00 00 00 00 5. 6. 7. 8. 9. 10. 11. 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 Add lines 6 through 9.............................................................................................................................................. Direct Premiums Written in Michigan. Subtract line 10 from line 5. If less than zero, enter zero ..................... DISABILITY INSURANCE EXEMPTION CREDITS 20. Enter amounts paid from 1/1/2015 to 12/31/2015 to each of the following a. Michigan Workers’ Compensation Placement Facility .............................. 20a. 00 b. Michigan Basic Property Insurance Association ....................................... 20b. 00 c. Michigan Automobile Insurance Placement Facility ................................. 20c. 00 d. Property and Casualty Guaranty Association ........................................... 20d. 00 e. Michigan Life and Health Insurance Guaranty Association ...................... 20e. 00 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. Tax Before Miscellaneous Nonrefundable Credits. Subtract lines 21 and 22b from line 19 ............................. 23. 24. Miscellaneous Nonrefundable Credits from Form 4596, line 28............................................................................. 24. 25. Michigan Business Tax After Nonrefundable Credits. Subtract line 24 from line 23. If less than zero, enter zero .. 25. 26. Recapture of Certain Business Tax Credits and Deductions from Form 4587, line 13........................................... 26. 27. Total Michigan Business Tax. Add lines 25 and 26 ............................................................................................ 27. 28. Corporate Income Tax Adjustment from Form 4974, line 20 .................................................................................. 28. 29. Tax Liability. Add lines 27 and 28 .......................................................................................................................... 29. 00 00 00 00 00 00 00 00 00 Return is due March 1, 2017. 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 2016 83 01 27 3 Continue and sign on Page 2 4588, Page 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 ........................................................................ FEES AND ASSESSMENTS 30. 31. 32. 33. 34. 35. 36. Annual statement filing fee .................................................................... Certificate of Authority renewal fee ........................................................ Certificate of Compliance ...................................................................... Certificate of Deposit ............................................................................. Certificate of Valuation........................................................................... 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 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 ....... 37. 38. 39. 40. 41. TOTAL 43. 44. 45. 46. 47. X X X X X X X X 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 25 X X X X X X X X X X X X X X X X 42. Add lines 30 through 42 ............................................................................. 43. Accelerated and Certificated Refundable Credits (see instructions) ..... 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............................... Total MBT Tax Liability. Add lines 29 and 46. Domestic insurers, enter amount from line 29 ............................. 46. 47. 00 00 48. 49. 50. 51. 52. 53. Overpayment credited from prior MBT return ......................................................................................................... Estimated tax payments ......................................................................................................................................... Flow-Through Withholding payments ..................................................................................................................... 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.) ................................................ 48. 49. 50. 51. 52. 53. 00 00 00 00 00 00 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. PAYMENTS, REFUNDABLE CREDITS AND TAX DUE 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.......................................................................................................... Taxpayer Certification. 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 2016 83 02 27 1 59. 60. 61. Preparer Certification. 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 To calculate the tax liability and to claim credits for insurance companies for both Michigan Business and Retaliatory Taxes. NOTE: Beginning January 1, 2012, only those taxpayers with a certificated credit, which is awarded but not yet fully claimed or utilized, may elect to be Michigan Business Tax (MBT) taxpayers. If a taxpayer files an MBT return and claims a certificated credit, the taxpayer makes the election to file and pay under the MBT until the certificated credit and any carryforward of that credit are exhausted. General Instructions MBT Liability: Beginning January 1, 2012, a taxpayer calculates MBT liability as the greater of MBT liability after all credits, deductions, and exemptions or hypothetical CIT liability minus deductions and credits available under that act and minus certificated credits allowed under the MBT. This calculation of liability requires a taxpayer to calculate the premiums tax base and apply available MBT credits, including certificated credits, deductions, and exemptions available under the MBT. Then, the taxpayer will calculate the CIT comparison on the Schedule of Corporate Income Tax Liability for an Insurance Filer (Form 4974). A taxpayer is permitted to reduce hypothetical CIT liability by all deductions and credits which would be allowed under that tax as well as the amount of certificated credit allowed under the MBT. The amount of certificated credit allowed under the MBT is the amount of nonrefundable credit needed to offset MBT liability or the entire amount of a refundable credit. If the taxpayer’s hypothetical CIT liability would be higher than its MBT liability, the taxpayer will add the difference to MBT liability on line 28 of this form (4588). This is the CIT adjustment. If the result of both steps of the calculation is a negative number, the taxpayer will receive a refund of the lower negative; but a nonrefundable credit cannot be used to reduce liability below zero. Remaining nonrefundable certificated credit may be carried forward to succeeding tax years. Amended Returns: To amend a current or prior year annual return, complete the Form 4588 that is applicable for that year, check the box in the upper-right corner of the return, and attach a separate sheet explaining the reason for the changes. Include an amended federal return or a signed and dated Internal Revenue Service (IRS) audit document. Include all schedules filed with the original return, even if not amending that schedule. Enter the figures on the amended return as they should be. Do not include a copy of the original return with your amended return. A taxpayer may not amend to revoke the election to remain taxable under the MBT. Once the taxpayer makes a valid election to claim a certificated credit, the taxpayer must continue to file the MBT until the credit and any carryforward of that credit are exhausted. Line-by-Line Instructions Lines not listed are explained on the form. Do not enter data in boxes filled with Xs. Line 1: Enter the complete address and, if other than the United States, enter the two-digit abbreviation for the country code. See the list of country codes in the Michigan Business Tax (MBT) Forms and Instructions for Insurance Companies (Form 4592). Any correspondence regarding the return filed and/or refund will be sent to the address used here. Check the new address box if the address used on this line has changed from the last filing. The taxpayer’s primary address in the Department of Treasury (Treasury) files, identified as the legal address and used for all purposes other than refund and correspondence on a specific MBT return, will not change until the customer specifically makes the change on their Michigan Treasury Online (MTO) account. Visit michigan.gov/mtobusiness for more information. Line 2: Use the taxpayer’s Federal Employer Identification Number (FEIN) or the Michigan Treasury (TR) assigned number. Be sure to use the same account number on all forms. If the taxpayer does not have an FEIN or TR number, the taxpayer must register before filing this form. Taxpayers are encouraged to register online at www.michigan.gov/mtobusiness. Click on the quick link “New Business” for information on how to obtain a FEIN, which is required to submit a return through e-file. Taxpayers usually can obtain an FEIN from the IRS within 48 hours. Taxpayers registering with the State online usually receive an account number within seven days. Returns received without a registered account number will not be processed until such time as a number is provided. Line 3: Check this box if the company is a foreign insurer. Alien insurers are considered foreign insurers, unless their port of entry is Michigan, in which case the company is considered domestic for the filing of this return. Line 4: Alien insurers, enter the two-letter postal code for the U.S. state that is your port of entry. Line 5: Enter all gross direct premiums written on property or risk located or residing in Michigan. Line 6: Enter premiums on policies not taken to the extent these premiums were included in line 5. Line 7: Enter returned premiums on canceled policies to the extent these premiums were included in line 5. Line 8: Enter receipts on sales of annuities to the extent these receipts were included in line 5. Line 9: Enter receipts on reinsurance premiums assumed to the extent these receipts were included in line 5, and only if tax was paid on the original premiums. Line 12: Disability insurance is insurance of any person against bodily injury or death by accident, or against disability on account of sickness or accident including also the granting 11 of specific hospital benefits and medical, surgical and sickcare benefits to any person, family, or group, subject to such limitations as may be prescribed with respect thereto. The exclusion for disability insurance premiums does not include credit insurance or disability income insurance premiums. CREDITS Line 20: Enter the amounts paid to the listed facilities or associations from January 1, 2014, to December 31, 2014, the year immediately preceding the 2015 tax year, including special assessments. Net the amounts paid and refunds received during the 2014 tax year for the same facility or association. If refunds received exceed the amount paid in the year for the same facility or association, enter zero. Line 22a: Enter the amount of Michigan Examination Fees paid in 2013 (under Michigan Compiled Law 500.224). Line 24: Enter the Miscellaneous Nonrefundable Credits from Michigan Business Tax Miscellaneous Credits for Insurance Companies (Form 4596), line 28. Retaliatory Instructions For foreign and alien insurers only; domestic insurers skip lines 30 through 46. Do not mail this return with the Michigan Annual Financial Statement, and do not send the annual statement filing fee with this return. The taxpayer will be billed separately for the annual statement filing fee by the Department of Insurance and Financial Services. Foreign insurers must pay to Michigan the same type of obligation a similar Michigan insurer is required to pay in the company’s state of domicile. Enter all items that are required of a Michigan insurance company. Some taxes and obligations imposed in other states may have no corresponding requirement in Michigan; however, this does not relieve the foreign insurer from the obligation of computing and paying the tax. Do not include the following Michigan assessments, or comparable assessments in the company’s state of incorporation, in the retaliatory calculation: • • • • • • • Michigan Workers’ Compensation Placement Facility Michigan Basic Property Insurance Association Michigan Automobile Insurance Placement Facility Property and Casualty Guaranty Association Michigan Life and Health Insurance Guaranty Association Catastrophic Claims Association Assessment under Health Insurance Claims Assessment Act (HICAA). California insurers must include Bureau of Fraudulent Claims assessments. New York domiciled companies must file and pay a tentative retaliatory tax to Michigan by the annual due date, March 1, 2013. An amended Form 4588 must be filed after the actual CT33 is filed with New York. Transfer the CT33 numbers onto the amended Form 4588 and attach a copy of the CT33 to substantiate the taxpayer’s claim. Line 30: Enter the tax a Michigan company would pay to the taxpayer’s state of incorporation if it conducted the same amounts and types of business there as the taxpayer 12 is conducting in Michigan. Attach a copy of the state of incorporation’s tax form on which this pro forma tax on the hypothetical Michigan company was calculated. Lines 32 through 42: In column A, “State of Incorporation,” enter the payments that would have been payable by a similar Michigan company doing business in the company’s home state. In column B, “Michigan,” enter actual payments made to Michigan. Lines 38 through 42: Attach proof of payment for any items listed in the “Michigan” column. Itemize any other assessments not listed. Attach a separate list if necessary. Line 44: Enter the sum of accelerated and certificated refundable credits: • Accelerated credits: The amount from the Request for Accelerated Payment for the Brownfield Redevelopment Credit and the Historic Preservation Credit (Form 4889), line 10. (If the taxpayer has filed more than one Form 4889 during the tax year, enter here the combined total of credits claimed on all Forms 4889, line 10); • Certificated Refundable credits: The sum of the amounts reported on Form 4596, lines 2, 3, and 4. Line 46: Subtract line 45, column B, from line 45, column A. If less than zero, enter zero. If line 45, column B, is a negative number, add column A to the negative number in column B. This will increase the retaliatory amount reported. PAYMENTS, REFUNDABLE CREDITS, AND TAX DUE Line 49: Enter the total tax paid with the quarterly estimated tax returns. Line 50: Enter the total withholding payments made on your behalf by flow-through entities (FTEs). Include all withholding payments made on returns that apply to the tax year included in this return. Included on this line would be Flow-Through Withholding (FTW) payments made by flowthrough entities whose tax years ended with or within the tax year included in this return. For example, consider an FTE partnership with a June 30 year end and a taxpayer that has a March 31 year end and is an owner of the FTE. The FTE will make quarterly FTW payments in April 2014 (for its quarter ending March 31) and July 2014 (for its quarter ending June 30), and will file an annual FTW reconciliation return (Form 4918) for its year ending June 30, 2014. Because the FTE’s tax year ends within the taxpayer’s 2014-15 fiscal year, all the FTW payments for that taxpayer are attributable to the taxpayer’s 2014-15 fiscal year, regardless of the dates of the quarterly payments. If an amount is entered on this line, complete the MBT Schedule of Flow-Through Withholding (Form 4966) to account for the Flow-Through Withholding payments received. The amount entered on this line must equal the sum of the combined amount from Form 4966, column E. Line 51: Enter any tentative payment of estimated tax made with a request for an extension of time to file the return. Line 52: If claiming a credit, enter the amount from Form 4596, line 5. Amended Returns Only: Line 54a: Enter payment made with the original return. Line 54b: Enter overpayment received (refund received plus credit forward created) on the original return. Line 54c: Add lines 53 and 54a and subtract line 54b from the sum. Line 56: If penalty and interest are owed for not filing estimated returns or for underestimating tax, complete the MBT Penalty and Interest Computation for Underpaid Estimated Tax (Form 4582) to compute penalty and interest due. If a taxpayer chooses not to file Form 4582, Treasury will compute penalty and interest and bill for payment. Form 4582 is available on the Web at www.michigan.gov/taxes. Line 57: Enter the annual return penalty rate in line 57a. Add the overdue tax penalty in line 57b to the overdue tax interest in line 57c. Enter total in line 57d. Refer to the “Computing Penalty and Interest” section in Form 4592 to determine the annual return penalty rate and use the following Overdue Tax Penalty and Overdue Tax Interest worksheets. WORKSHEET – OVERDUE TAX PENALTY A. Tax due from Form 4588, line 55 ........ B. Late/extension or insufficient payment penalty percentage ................ C. Multiply line A by line B ..................... 00 % 00 Reminder: Taxpayers must sign and date returns. Tax preparers must provide a Preparer Taxpayer Identification Number (PTIN), FEIN or Social Security number (SSN), a business name, and a business address and phone number. Other Supporting Forms and Schedules The following forms and their requested attachments should be included as part of this return, as applicable: • Michigan Historic Preservation Tax Credit (Form 3581) • MBT Single Business Tax (SBT) Credit Carryforwards (Form 4569) • MBT Penalty and Interest Computation for Underpaid Estimated Tax (Form 4582) • MBT Election of Refund or Carryforward Credits (Form 4584) • MBT Schedule of Recapture of Certain Business Tax Credits and Deductions (Form 4587) • MBT Renaissance Zone Credit Schedule (Form 4595) • MBT Miscellaneous Credits for Insurance Companies (Form 4596) • MBT Schedule of Flow-through Withholding (Form 4966) • Proof of payment for any items listed in the “Michigan” column for lines 39 through 42. Carry amount from line C to Form 4588, line 57b. A. B. C. D. E. WORKSHEET – OVERDUE TAX INTEREST Tax due from Form 4588, line 55 ........ Applicable daily interest percentage .. Number of days return was past due ... Multiply line B by line C .................... Multiply line A by line D .................... 00 % 00 Carry amount from line E to Form 4588, line 57c. Line 57c: NOTE: If the late period spans more than one interest rate period, divide the late period into the number of days in each of the interest rate periods identified under the “Computing Penalty and Interest” section in Form 4592 and apply the calculations in the Overdue Tax Interest worksheet separately to each portion of the late period. Combine these interest subtotals and carry the total to Form 4588, line 57c. Line 59: If the amount of the overpayment, less any penalty and interest due on lines 56 and 57d, is less than zero, enter the difference (as a positive number) on line 58. If the amount is greater than zero, enter on line 59. NOTE: If an overpayment exists, a taxpayer must elect a refund of all or a portion of the amount and/or designate all or a portion of the overpayment to be used as an estimate for the next MBT tax year. Complete lines 60 and 61 as applicable. Line 60: If the taxpayer anticipates an MBT liability in the filing period subsequent to this return, some or all of any overpayment from line 59 may be credited forward to the next tax year as an estimated payment. Enter the desired amount to use as an estimate for the next MBT tax year. 13 14 Attachment 01 Michigan Department of Treasury 4596 (Rev. 04-16), Page 1 2016 MICHIGAN Business Tax Miscellaneous Credits for Insurance Companies Issued under authority of Public Act 36 of 200
Extracted from PDF file 2016-michigan-form-4592.pdf, last modified January 2017

More about the Michigan Form 4592 Corporate Income Tax TY 2016

We last updated the Instruction Booklet for Insurance Companies in May 2017, so this is the latest version of Form 4592, fully updated for tax year 2016. You can download or print current or past-year PDFs of Form 4592 directly from TaxFormFinder. You can print other Michigan tax forms here.

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 4884 Pension Schedule
Form 4891 CIT Annual Return
Form 5049 Worksheet for Married, Filing Separately and Divorced 5049
Form 777 Michigan Resident Credit for Tax Imposed by a Canadian Province

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 4592 from the Department of Treasury in May 2017.

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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 4592

We have a total of six past-year versions of Form 4592 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form 4592

4592, 2016 Michigan Business Tax Forms and Instructions for Insurance Companies


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