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Michigan Free Printable 4596, 2019 Michigan Business Tax Miscellaneous Credits for Insurance Companies for 2021 Michigan Miscellaneous Credits for Insurance Companies

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Miscellaneous Credits for Insurance Companies
4596, 2019 Michigan Business Tax Miscellaneous Credits for Insurance Companies

Attachment 01 Michigan Department of Treasury 4596 (Rev. 04-19), Page 1 of 2 2019 MICHIGAN Business Tax Miscellaneous Credits for Insurance Companies Issued under authority of Public Act 36 of 2007. Taxpayer Name Federal Employer Identification Number (FEIN) or TR Number PART 1: REFUNDABLE CREDITS Workers’ Disability Supplemental Benefit (WDSB) Credit. If not claiming, skip to line 2. 1. 00 2. 00 3. 00 4. Assigned credit amount (see instructions)............................................................................................................. 4. 00 5. TOTAL REFUNDABLE CREDITS. Add lines 1 through 4. Enter total here and carry to Form 4588, line 52. ..... 5. 00 6. 00 7. Michigan Compensation ......................................................................................................................................... 7. 00 8. Compensation Credit. Multiply line 7 by 0.37% (0.0037)........................................................................................ 8. 00 9. Tax before credits from Form 4569, line 12, or if line 6 above is zero, enter amount from Form 4588, line 23 .... 9. 00 10. WDSB Credit from line 1 above............................................................................................................................. 10. 00 11. Subtract line 10 from line 9. If less than zero, enter zero ..................................................................................... 11. 00 12. Multiply line 11 by 65% (0.65)................................................................................................................................ 12. 00 13. Allowable Compensation Credit. Enter lesser of line 8 or line 12...................................................................... 13. 00 14. Tax After Compensation Credit. Subtract line 13 from line 9. If less than zero, enter zero ................................... 14. 00 1. WDSB Credit allowed by the Workers’ Compensation Agency (attach document) ............................................... MEGA Employment Tax Credit. If not claiming, skip to line 3. 2. Credit amount from MEDC Annual Tax Credit Certificate (attach) ........................................................................ MEGA Photovoltaic Technology Credit. If not claiming this credit, skip to line 4. 3. Credit amount from Assignment Certificate provided by MEDC (attach) .............................................................. Film Production Credit. If not claiming, skip to line 5. PART 2: NONREFUNDABLE CREDITS 6. Single Business Tax credit carryforward from Form 4569, line 13. If not claiming, enter zero .............................. Compensation Credit. If not claiming, subtract line 6 from Form 4588, line 23 and enter on line 14. If less than zero, enter zero. Reduced Compensation Credit + 0000 2019 97 01 27 8 Continue on Page 2 2019 Form 4596, Page 2 of 2 FEIN or TR Number Renaissance Zone Credit. If not claiming, carry amount from line 14 to line 16. If claiming, complete and include the MBT Renaissance Zone Credit Schedule (Form 4595). 15. Renaissance Zone Credit. Amount from Form 4595, line 25b ............................................................................ 15. 00 16. Tax After Renaissance Zone Credit. Subtract line 15 from line 14. If less than zero, enter zero ........................... 16. 00 17. 00 18a. Recapture of Historic Preservation Tax Credit from Form 4584, line 2 .................................................................. 18a. 00 18b. Historic Preservation Credit Net of Recapture. Subtract line 18a from line 17. If less than zero, enter as a negative number..................................................................................................................................................... 18b. 00 Historic Preservation Credit. If not claiming, carry amount from line 16 to line 19. 17. Historic Preservation Credit from Form 4584, line 28......................................................................................... 19. 00 20. Brownfield Redevelopment Credit from Form 4584, line 55.............................................................................. 20. 00 21. Tax After Brownfield Redevelopment Credit. Subtract line 20 from line 19. If less than zero, enter zero ............ 21. 00 22. Assigned credit amount ......................................................................................................................................... 22. 00 23. Unused credit from previous period MBT return.................................................................................................... 23. 00 24. Total Available Credit. Add lines 22 and 23 .......................................................................................................... 24. 00 25. Film Infrastructure Credit. Enter the lesser of line 21 or 24 ............................................................................... 25. 00 26. Tax After Film Infrastructure Credit. Subtract line 25 from line 21. If less than zero, enter zero.......................... 26. 00 28. 00 19. Tax After Historic Preservation Credit. Subtract line 17 from line 16 and add line 18a .......................................... Brownfield Redevelopment Credit. If not claiming, carry amount from line 19 to line 21. Film Infrastructure Credit. If not claiming, carry amount from line 21 to line 26. 27. Credit carryforward. If line 24 is greater than line 21, enter the difference....... 27. 00 28. TOTAL NONREFUNDABLE CREDITS. Add lines 6, 13, 15, 18b, 20, and 25. Enter total here and carry amount to Form 4588, line 24 ...................................................................................... + 0000 2019 97 02 27 6 Instructions for Form 4596 Michigan Business Tax (MBT) Miscellaneous Credits for Insurance Companies Purpose To allow insurance companies to calculate certain miscellaneous credits. There are strict eligibility requirements, so review the descriptions carefully before claiming a credit. Follow the instructions on the form for each credit. Line-by-Line Instructions Lines not listed are explained on the form. 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 MBT taxpayers. PART 1: REFUNDABLE CREDITS Workers’ Disability Supplemental Benefit (WDSB) Credit The WDSB Credit is available to an insurance company subject to the Workers’ Disability Compensation Act of 1969. The credit is equal to the amount paid during that tax year by the insurance company pursuant to Section 352 of the act, as certified by the director of the Workers’ Compensation Agency, Department of Licensing and Regulatory Affairs (LARA), during the tax year. The amount of the credit is provided to taxpayers by LARA. For more information on WDSB credit eligibility, contact LARA, Workers’ Compensation Agency, at (517) 322-1879 or 1-888-396-5041 or visit the LARA Web site at www.michigan.gov/lara. Line 1: Attach a copy of the document provided by LARA to the return to substantiate the claim for this credit. MEGA Employment Tax Credit The Michigan Economic Growth Authority (MEGA) Employment Tax Credit promotes economic growth and jobs in Michigan. For a period of time not to exceed 20 years, a taxpayer that is an authorized business or an eligible taxpayer may claim a credit equal to the amount certified each year by MEGA. Beginning January 1, 2012, this credit is available as a certificated credit to the extent that the taxpayer has entered into an agreement with MEGA by December 31, 2011, but the credit has not been fully claimed or paid prior to January 1, 2012. This credit must be claimed beginning with the taxpayer’s first tax year ending after December 31, 2011, in order for the taxpayer to remain taxable under the MBT and claim the credit. NOTE: MEGA may certify a credit based on an agreement entered into prior to January 1, 2008, under the Single Business Tax (SBT). The number of years for which the credit may be claimed for MBT will be equal to the maximum number of years designated in the resolution reduced by the number of years for which a credit has been claimed or could have been claimed under SBT. NOTE: A taxpayer that claimed a credit under either SBT or MBT that had an agreement with MEGA based on qualified new jobs as defined in the MEGA Act, and that removes 51 percent or more of those qualified new jobs from Michigan within three years after the first year in which the taxpayer claimed a credit must pay an amount equal to the total of all credits claimed no later than 12 months after those qualified new jobs are removed from Michigan. Recapture is reported on the MBT Schedule of Recapture of Certain Business Tax Credits and Deductions (Form 4587). For more information, call the Michigan Economic Development Corporation (MEDC) at (517) 373-9808 or visit the MEDC Web site at http://www.michiganbusiness.org/. Line 2: Approved businesses receive a certificate from MEGA each year showing the total amount of tax credit allowed. Attach the Annual Tax Credit Certificate to the return. (If the certificate is not attached, the credit will be disallowed.) MEGA Photovoltaic Technology Credit The MEGA Photovoltaic Technology Credit is available to a qualified taxpayer that enters into an agreement with MEGA to construct and operate a new facility in Michigan which serves to develop and manufacture photovoltaic energy, photovoltaic systems, or other photovoltaic technology. This credit is available to an insurance company as an assignee only. Photovoltaic energy, systems, or technology rely on solar power. The credit is available for 25 percent of the taxpayer’s capital investment in the new facility during the tax year. The credit generally must be taken in equal installments over a two-year period beginning in the tax year in which the certificate is issued. A taxpayer may make an irrevocable assignment of all or a portion of the credit or may convey the right to the assignment on a form provided by MEGA, which will then issue assignment certificates to the assignee(s). A taxpayer or assignee that claims a credit and subsequently fails to meet the requirements of the act or any other conditions established by MEGA in the agreement may, as determined by MEGA, have its credit reduced or terminated or have a percentage of the credit previously claimed added back to the tax liability of the taxpayer in the tax year that the taxpayer or assignee fails to comply. Credit recapture is reported on Form 4587. A taxpayer certified to take the polycrystalline silicon credit under Michigan Compiled Laws (MCL) 208.1432 is disqualified from taking this credit. Beginning January 1, 2012, this credit is available as a certificated credit to the extent that the taxpayer has entered into an agreement with MEGA by December 31, 2011, but the credit has not been fully claimed or paid prior to January 1, 2012. An insurance company assignee must claim this credit 17 beginning with it’s first tax year ending after December 31, 2011, in order to remain taxable under the MBT and claim the credit. Line 3: To claim this credit, attach a copy of the assignment certificate received from MEGA. (If the certificate is not attached, the credit will be disallowed.) Film Production Credit This credit is available to an insurance company as an assignee only. The Michigan Film Office, with the concurrence of the State Treasurer, may enter into an agreement with an eligible production company providing the company with a refundable credit against MBT tax liability or against taxes withheld under Chapter 7 of the Michigan Individual Income Tax Act of 1967. A Post-Production Certificate of Completion will be issued verifying the amount of the credit to be claimed once the Michigan Film Office is satisfied that company expenditures and eligibility are adequately met. The credit may be assigned in the tax year in which the Post-Production Certificate of Completion is received but such assignment is irrevocable. The credit must first be claimed in the year of assignment. Beginning January 1, 2012, this credit is available as a certificated credit to the extent that the taxpayer has entered into an agreement with the Michigan Film Office with the concurrence of the State Treasurer by December 31, 2011, but the credit has not been fully claimed or paid prior to January 1, 2012. An insurance company assignee must claim this credit beginning with it’s first tax year ending after December 31, 2011, in order to remain taxable under the MBT and claim the credit. For more information, contact the Michigan Film Office at 1-800-477-3456 or visit the Web site at www.michiganfilmoffice.org. Line 4: To claim this credit, include a copy of the MBT Film Credit Assignment (Form 4589) to the return. PART 2: NONREFUNDABLE CREDITS SBT Credit Carryforward The Historic Preservation Credit and Brownfield Redevelopment Credit carryforwards from SBT may be claimed against MBT tax liability for the remaining years the carryforward would have been available under the SBT Act. Compensation Credit An insurance company may claim a credit equal to a percentage of compensation in Michigan, not to exceed 65 percent of the insurance company’s tax liability for the tax year after claiming the other credits allowed under Chapter 2A of the MBT Act. Line 7: Enter compensation payments made in the tax year on behalf of or for the benefit of employees, officers, or directors as defined in MCL 208.1107(2). Generally, under this definition, compensation includes, but is not limited to, payments that are subject to or specifically exempt or 18 excepted from withholding under Internal Revenue Code (IRC) § 3401 through § 3406. Compensation also includes fringe benefits and any earnings that are net earnings from self-employment, as defined under IRC § 402, of the taxpayer or partner or LLC member of the taxpayer. Wages, salaries, fees, bonuses, commissions, and other payments made in the tax year on behalf of or for the benefit of employees, officers, or directors as well as selfemployment earnings must be reported on a cash basis. Payments made to a pension plan, retirement or profit sharing plan, employee insurance plans, and payments under health and welfare benefit plans, as well as the administration fees paid for the administration of the health and welfare benefit plan, are compensation. Compensation also includes certain payments made by licensed taxpayers that are statutorily identified. These compensation payments are calculated on a cash or accrual basis consistent with the taxpayer’s method of accounting for federal income taxes. The statute provides for certain exclusions from compensation including employee discounts on merchandise and services, payments for state and federal unemployment compensation and federal insurance contributions, and payments made to independent contractors. Expense incurred for the benefit of the taxpayer rather than for the benefit of employees of the taxpayer is not compensation. Noncompensation expenses might include payments reported on a Form 1099 to an employee for the rental of a building or for interest income. This credit is calculated against the taxpayer’s Michigan compensation. Compensation is “in this state” if (a) the individual’s service is performed entirely within Michigan, or (b) the individual’s service is performed both within Michigan and outside Michigan, but the services performed outside Michigan are incidental to the individual’s service within Michigan. Example 1: Sales Co. employs Salesperson whose territory includes both Detroit, Michigan, and Toledo, Ohio. Salesperson calls on customers located in both Michigan and Ohio. The compensation paid to Salesperson is not “compensation in this state” because Salesperson’s activity is not limited solely to Michigan, and calling on customers in Ohio is not incidental to Salesperson’s activity in Michigan. Example 2: Manufacturer employs Engineer at its Michigan facility. Several times a year, Engineer travels out of state to meet with suppliers. Although Engineer performs services both within Michigan and outside Michigan, Engineer’s out-of-state services are incidental to Engineer’s services within Michigan. The compensation paid to Engineer is “compensation in this state.” Renaissance Zone Credit The Renaissance Zone Credit encourages businesses and individuals to move into a designated Zone to help revitalize the area by providing a credit for businesses located and conducting business activity within the Zone. Line 15: Complete and include the MBT Renaissance Zone Credit Schedule (Form 4595) to claim this credit. NOTE the changed instructions for certain taxpayers for line 24 of Form 4595. Questions regarding federal and State certification may be directed to SHPO. If located in more than one zone, complete and include a separate Form 4595 for each zone. Add line 25b from each Form 4595 and enter the sum on Form 4596, line 15. Brownfield Redevelopment Credit Beginning January 1, 2012, the brownfield redevelopment credit may be claimed as a certificated credit if a taxpayer has a preapproval letter by December 31, 2011, but has not fully claimed the credit by January 1, 2012. The credit may be claimed as either a refundable accelerated credit (on Form 4889) or a non-refundable credit. Non-refundable credits and non-refundable carryforwards of the credit are claimed here. The credit must first be claimed in the year in which the certificate of completion is issued. NOTE: Although Insurance companies do not normally calculate business income, or apportion their tax base by a sales factor, both are required in the calculation of a Renaissance Zone credit. Use the Business Income Worksheet (Worksheet 4746) to calculate a pro forma business income, and calculate pro forma sales in Michigan and sales everywhere. See instructions for the MBT Annual Return (Form 4567) for guidance on the definition of sales and applicable sourcing provisions. For more information on Renaissance Zones, contact the MEDC at 517-373-9808 or visit their Web site at http://www.michiganbusiness.org/. For information on the MBT credit, contact the Michigan Department of Treasury, Customer Contact Division, MBT Unit, at 517-636-6925. Historic Preservation Credit The Historic Preservation Credit provides tax incentives for homeowners, commercial property owners, and businesses to rehabilitate historic resources located in Michigan. Rehabilitation projects must be certified by the State Historic Preservation Office (SHPO). Beginning January 1, 2012, the historic preservation credit is available to the extent that a taxpayer had a Part 2 approval, approved rehabilitation plan, approved high community impact rehabilitation plan or preapproval letter by December 31, 2011, but has not fully claimed the credit before January 1, 2012. The credit may be claimed as either a refundable accelerated credit on the Request for Accelerated Payment for the Brownfield Redevelopment Credit and the Historic Preservation Credit (Form 4889) or a non-refundable credit. Non-refundable credits and non-refundable carryforwards of the credit are claimed here. A taxpayer may elect to claim a certificated historic preservation credit in the year in which a credit is available and will be taxable under the MBT until the qualifying credit and any carryforward of the credit are extinguished. The credit must first be claimed in the year that the certificate of completed rehabilitation of the historic resource was issued. Line 17: Complete Form 4584 to claim this credit and carryforward the resulting overpayment, if any. Line 18a: Recapture from Form 4584, line 2. If the resource is sold or the certification of completed rehabilitation or preapproval letter is revoked less than five years after the historic resource is placed in service, a percentage of the credit may be subject to recapture. 100 percent 80 percent 60 percent 40 percent 20 percent If less than 1 year If at least 1 year, but less than 2 years If at least 2 years, but less than 3 years If at least 3 years, but less than 4 years If at least 4 years, but less than 5 years Line 20: Complete Form 4584 to claim this credit and carryforward the resulting overpayment. The administration of the Brownfield Redevelopment Credit program is assigned to MEGA. For more information on the approval process, contact the MEDC at 517-373-9808. Film Infrastructure Credit This credit is available to an insurance company as an assignee only. An eligible taxpayer may claim a credit for investment in a qualified film and digital media infrastructure project equal to 25 percent of the base investment expenditures for the project, provided the taxpayer enters into an agreement with the Michigan Film Office, concurred in by the State Treasurer. The credit is reduced by the amount of any Brownfield Redevelopment Credit claimed under Section 437 of the MBT Act for the same base investment. If the credit exceeds the taxpayer’s tax liability for the tax year, the excess may be carried forward to offset tax liability in subsequent years for a maximum of ten years. Upon verification that the taxpayer has complied with the agreement terms and investment expenditures and eligibility are adequately met, the Michigan Film Office will issue an Investment Expenditure Certificate stating the amount of the credit. The certificate received must be attached to the return. The credit may be assigned in the tax year in which the Investment Expenditure Certificate is received but any such assignment is irrevocable. Form 4589 must be attached to the return on which the credit is claimed. An assigned credit amount must first be claimed against the assignee’s MBT liability during the assignee’s tax year in which the credit was assigned. Beginning January 1, 2012, this credit is available as a certificated credit to the extent that the taxpayer has entered into an agreement with the Michigan Film Office with the concurrence of the State Treasurer by December 31, 2011, but the credit has not been fully claimed or paid prior to January 1, 2012. NOTE: To qualify for the credit, a taxpayer must not be delinquent in a tax or other obligation owed to Michigan nor be owned or under common control of an entity that is delinquent. 19 A credit cannot be claimed for any direct expenditure for which a Film Production Credit was claimed against either an MBT or withholding tax liability. For more information, contact the Michigan Film Office. Include completed Form 4596 as part of the tax return filing. 20
Extracted from PDF file 2019-michigan-form-4596.pdf, last modified January 2020

More about the Michigan Form 4596 Corporate Income Tax Tax Credit

We last updated the Miscellaneous Credits for Insurance Companies 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.


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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 4567 Business Tax Annual Return
Form 4642 Voluntary Contributions Schedule
Form 4946 Schedule of Corporate Income Tax Liability for a Michigan Business Tax Filer
Form 4897 Data on UBG Members*

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 4596 from the Department of Treasury in March 2020.

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Form 4596 is a Michigan Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

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 4596

We have a total of nine past-year versions of Form 4596 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 4596

4596, 2019 Michigan Business Tax Miscellaneous Credits for Insurance Companies

2018 Form 4596

4596, 2018 MICHIGAN Business Tax Miscellaneous Credits for Insurance Companies

2017 Form 4596

4596, 2017 Michigan Business Tax Miscellaneous Credits for Insurance Companies

2016 Form 4596

4596, 2016 Michigan Business Tax Miscellaneous Credits for Insurance Companies

Michigan Business Tax 2011 Form 4596

Form 4596, 2011 Michigan Business Tax Miscellaneous Credit for Insurance Companies


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