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Michigan Free Printable 4746, Business Income Worksheet for 2022 Michigan Business Income Worksheet

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Business Income Worksheet
4746, Business Income Worksheet

Michigan Department of Treasury 4746 (04-21), Page 1 FEIN or TR Number UBG Member FEIN or TR Number Business Income Worksheet Complete the appropriate parts below, based on the person’s organization type. Part 1 is for an Individual or Fiduciary; Part 2 is for a C Corporation (or a SHUVRQ¿OLQJIHGHUDOUHWXUQVDVD&&RUSRUDWLRQ DQG3DUWLVIRUD3DUWQHUVKLSRU6&RUSRUDWLRQ RUDSHUVRQ¿OLQJDIHGHUDOUHWXUQDVD3DUWQHUVKLSRUDQ6 &RUSRUDWLRQ 7KLVZRUNVKHHWZLOOFDOFXODWHEXVLQHVVLQFRPHDVGH¿QHGE\ODZLQPRVWFLUFXPVWDQFHV7D[SD\HUVDQGWD[SURIHVVLRQDOVDUHH[SHFWHGWREH IDPLOLDUZLWKXQFRPPRQVLWXDWLRQVZLWKLQWKHLUH[SHULHQFHZKLFKSURGXFHEXVLQHVVLQFRPHQRWLGHQWL¿HGE\VSHFL¿FOLQHVRQWKLVZRUNVKHHWDQGUHSRUWWKDW DPRXQWRQWKHPRVWDSSURSULDWHOLQH,QFOXGHDQDWWDFKPHQWH[SODLQLQJWKDWOLQH7KH0LFKLJDQ'HSDUWPHQWRI7UHDVXU\PD\DGMXVWWKH¿JXUHUHVXOWLQJIURP this worksheet to account properly for such uncommon situations. Complete and attach this worksheet to your return. Unitary Business Groups (UBG) must complete and attach a worksheet for each member. PART 1: INDIVIDUALS AND FIDUCIARIES U.S. Form 1040, Schedule C or C-EZQHWSUR¿WORVV............................................................................................ U.S. Form 1040, Schedule D, gain/loss (a) ............................................................................................................. U.S. Form 1040, Schedule E, line 26 rent and royalty income/loss ...................................................................... U.S. Form 4797 gain/loss not included in Schedule D (a)....................................................................................... 1. 2. 3. 4. 00 00 00 00 'RPHVWLF3URGXFWLRQ$FWLYLWLHVGHGXFWLRQEDVHGRQ,5&†UHSRUWHGRQ86)RUP, to the extent deducted from federal taxable income (d) ............................................................................................................... 6. Other Income. Include an attachment explaining this line. .................................................................................... 7. Total business income before adjustment. Add lines 1 through 6 ..................................................................... 5. 6. 7. 00 00 00 b. *DLQORVVDGMXVWPHQWRQWKHVDOHRIDQHOLJLEOHGHSUHFLDEOHDVVHW(c) .............................................................. Add lines 8a and 8b. If negative, enter as negative.............................................................................................. 8a. 8b. 9. 00 00 00 Total business income after adjustment. Add lines 7 and 9. Carry amount to Form 4567, line 28. For a UBG member, carry amount to Form 4580, Part 2A, line 30 ....................................................................... 10. 00 Federal taxable income from U.S. Form  ....................................................................................................... 11. 00 'RPHVWLF3URGXFWLRQ$FWLYLWLHVGHGXFWLRQEDVHGRQ,5&†UHSRUWHGRQ86)RUP, to the extent deducted from federal taxable income (d) ............................................................................................................... 13. Miscellaneous. Include an attachment explaining this line .................................................................................... 12. 13. 14. Total business income before adjustment. Add lines 11, 12 and 13 ............................................................... 14. 00 00 00 15. $GMXVWPHQWVGXHWRGHFRXSOLQJRI0LFKLJDQGHSUHFLDWLRQIURPVHFWLRQ N RI,5&,IDGMXVWPHQWLVQHJDWLYH enter as negative: a. 1HWERQXVGHSUHFLDWLRQDGMXVWPHQW(b) ............................................................................................................. 15a. b. *DLQORVVDGMXVWPHQWRQWKHVDOHRIDQHOLJLEOHGHSUHFLDEOHDVVHW(c) .............................................................. 15b. 1. 2. 3. 4. 5. 8. 9. 10. $GMXVWPHQWVGXHWRGHFRXSOLQJRI0LFKLJDQGHSUHFLDWLRQIURPVHFWLRQ N RI,5&,IDGMXVWPHQWLVQHJDWLYH enter as negative: a. 1HWERQXVGHSUHFLDWLRQDGMXVWPHQW(b) ............................................................................................................. PART 2: C CORPORATIONS 11. 12. 16. Add lines 15a and 15b. If negative, enter as negative.......................................................................................... 16. 00 00 00 17. Total business income after adjustment. Add lines 14 and 16. Carry amount to Form 4567, line 28. For a UBG member, carry amount to Form 4580, Part 2A, line 30 ....................................................................... 17. 00 U.S. Form 1065, or 66FKHGXOH., Income (loss): a. Ordinary income/loss ....................................................................................................................................... b. Net real estate rental income/loss ................................................................................................................... c. Net other rental income/loss ............................................................................................................................ d. Interest, dividend, and royalty income ............................................................................................................. 18a. 18b. 18c. 18d. e. Net short-term gain/loss .................................................................................................................................. f. Net long-term gain/loss.................................................................................................................................... 18e. 18f. 00 00 00 00 00 00 00 00 00 00 00 PART 3: PARTNERSHIPS AND S CORPORATIONS 18. 19. g. Other portfolio income/loss .............................................................................................................................. 18g. h. Guaranteed payments to partners or wages paid to a member of a LLC Partnership .................................... 18h. i. Other net gain/loss under section 1231 ........................................................................................................... 18i. M Other income. Include an attachment explaining this line ............................................................................... M Total income/loss.$GGOLQHVDWKURXJKM ...................................................................................................... 19. Continued on Page 2 4746, Page 2 FEIN or TR Number UBG Member FEIN or TR Number PART 3: PARTNERSHIPS AND S CORPORATIONS (CONT.) 20. U.S. Form 1065 or 66FKHGXOH., Deductions: a. Charitable contributions ................................................................................................................................... b. Section 179 expense ....................................................................................................................................... c. Deductions related to portfolio income ............................................................................................................ 20a. 20b. 20c. 00 00 00 d. 2WKHUGHGXFWLRQVH[FOXGLQJGHGXFWLRQVIRUGRPHVWLFSURGXFWLRQDFWLYLWLHV ,5&† (d) Include an attachment explaining this line. ................................................................................................................................................ 20d. 21. 22. Total deductions. Add lines 20a through 20d ...................................................................................................... Total business income before adjustments. Subtract line 21 from line 19 ....................................................... 21. 22. 00 00 00 23. $GMXVWPHQWVGXHWRGHFRXSOLQJRI0LFKLJDQGHSUHFLDWLRQIURPVHFWLRQ N RI,5& ,IDGMXVWPHQWLVQHJDWLYH enter as negative): a. 1HWERQXVGHSUHFLDWLRQDGMXVWPHQW(b) ............................................................................................................. 23a. b. *DLQORVVDGMXVWPHQWRQWKHVDOHRIDQHOLJLEOHGHSUHFLDEOHDVVHW(c) .............................................................. 23b. 24. Add lines 23a and 23b. If negative, enter as negative.......................................................................................... 24. 00 00 00 25. Total business income after adjustment. Add lines 22 and 24. Carry amount to Form 4567, line 28. For a member of a UBG, carry amount to Form 4580, Part 2A, line 30 ................................................................ 25. 00 (a) U.S. Forms 1040D and 4797: Report only gains or losses from assets used in a business activity. Do not include personal gains and losses. (b) For the computation of business income for Michigan Business Tax (MBT) purposes, persons who claimed a federal special depreciation deduction XQGHU,5&† N RQSURSHUW\¿UVWSODFHGLQVHUYLFHLQRUODWHUPXVWFDOFXODWHWKHQHWERQXVGHSUHFLDWLRQDGMXVWPHQWRQWKRVHDVVHWVDVIROORZV QHWERQXVGHSUHFLDWLRQDGMXVWPHQWLQWD[\HDUHTXDOVWKHWRWDOIHGHUDOGHSUHFLDWLRQFODLPHGLQWD[\HDUOHVVWKHWRWDODPRXQWRIGHSUHFLDWLRQWKDWZRXOG EHFODLPHGLQWKHIHGHUDOUHWXUQLQWKHWD[\HDULIWKHSHUVRQKDGHOHFWHGQRWWRXWLOL]HWKHERQXVGHSUHFLDWLRQDOORZDQFHDW,5&† N $SHUVRQPD\ QRWHOHFW,5&†H[SHQVLQJRIDQDVVHWIRU0%7SXUSRVHVLILWGLGQRWHOHFWWRXVH,5&†IRUWKDWDVVHWIHGHUDOO\ F )RU WKH FRPSXWDWLRQ RI EXVLQHVV LQFRPH IRU 0%7 SXUSRVHV SHUVRQV ZKR FODLPHG D IHGHUDO VSHFLDO GHSUHFLDWLRQ GHGXFWLRQ XQGHU ,5& †  N  RQ SURSHUW\¿UVWSODFHGLQVHUYLFHLQRUODWHUDQGVXEVHTXHQWO\GLVSRVHGRIWKDWSURSHUW\LQWKHFXUUHQWWD[\HDUPXVWFDOFXODWHWKHJDLQORVVDGMXVWPHQW RQWKHVDOHRIWKRVHDVVHWVDVIROORZVJDLQORVVDGMXVWPHQWLQWD[\HDUHTXDOVWKHWRWDODPRXQWRIIHGHUDOGHSUHFLDWLRQWKDWZRXOGEHFODLPHGLQWKH federal return over the years (starting the year the asset was placed in service and ending on the current tax year) if the person had elected not to utilize WKHERQXVGHSUHFLDWLRQDOORZDQFHDW,5&† N RQWKHSURSHUW\EHLQJGLVSRVHG/(66WKHWRWDOIHGHUDOGHSUHFLDWLRQFODLPHGRYHUWKH\HDUV VWDUWLQJ WKH\HDUDVVHWZDVSODFHGLQVHUYLFHDQGHQGLQJRQWKHFXUUHQWWD[\HDU $SHUVRQPD\QRWHOHFW,5&†H[SHQVLQJRIDQDVVHWIRU0%7SXUSRVHVLI LWGLGQRWHOHFWWRXVH,5&†IRUWKDWDVVHWIHGHUDOO\ G *HQHUDOO\ ,5&  ZDV UHSHDOHG HႇHFWLYH IRU WD[ \HDUV EHJLQQLQJ DIWHU 'HFHPEHU   7KHUHIRUH PRVW WD[SD\HUV ZLOO OHDYH WKLV OLQH EODQN +RZHYHUWKHIHGHUDOGHGXFWLRQFDQVWLOOEHWDNHQLQOLPLWHGFLUFXPVWDQFHVRULW¶VSRVVLEOHWKDWDPHPEHURID8%*UHWXUQLQFOXGHVLQWKLVUHWXUQLWVWD[\HDU beginning before January 1, 2018. In any case, to the extent a deduction was taken in this tax year’s federal taxable income, report that deduction here.
Extracted from PDF file 2021-michigan-form-4746.pdf, last modified January 2022

More about the Michigan Form 4746 Corporate Income Tax TY 2021

We last updated the Business Income Worksheet in March 2022, so this is the latest version of Form 4746, fully updated for tax year 2021. You can download or print current or past-year PDFs of Form 4746 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 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 4746 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 4746

We have a total of ten past-year versions of Form 4746 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2021 Form 4746

4746, Business Income Worksheet

2020 Form 4746

4746, Business Income Worksheet

2019 Form 4746

4746, 2019 Michigan Business Tax Business Income Worksheet

2018 Form 4746

4746, Business Income Worksheet

2016 Form 4746

4746, Business Income Worksheet

Michigan Business Tax 2011 Form 4746

Form 4746, Business Income Worksheet


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