×
tax forms found in
Tax Form Code
Tax Form Name

Michigan Free Printable 4975, Michigan Schedule of Corporate Income Tax Liability for a Michigan Business Tax Financial Filer for 2022 Michigan Schedule of Corporate Income Tax Liability for an MBT Financial Filer

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2021-michigan-form-4975.pdf, and you can print it directly from your computer.

Schedule of Corporate Income Tax Liability for an MBT Financial Filer
4975, Michigan Schedule of Corporate Income Tax Liability for a Michigan Business Tax Financial Filer

Attachment 28 Michigan Department of Treasury 4975 (Rev. 04-21) 2021 MICHIGAN Schedule of Corporate Income Tax Liability for a Michigan Business Tax Financial Filer Issued under authority of Public Act 36 of 2007 and PA 39 of 2011. Taxpayer Name (print or type) )HGHUDO(PSOR\HU,GHQWL¿FDWLRQ1XPEHU )(,1 3$57&,77$;%()25(&5(',76²Unitary Business Groups, see instructions. There is no amount to be entered on lines 1 through 4. Skip to line 5. 1. 2. 3. There is no amount to be entered ........ 1. XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX There is no amount to be entered ................. 2. XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX There is no amount to be entered ........ 3. XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX 00 4. There is no amount to be entered on this line. Skip to line 5.............................................................................. 4. 5. Tax Base (Net Capital for Current Taxable Year) as detailed in instructions ...................................................... 5. 00 6. Apportioned Tax base. Multiply line 5 by percentage on Form 4590, line 10c ................................................... 6. 00 7. Tax Liability. Multiply line 6 by 0.29% (0.0029) ................................................................................................... 7. 00 3$57&5(',76 8. &HUWL¿FDWHG1RQUHIXQGDEOH&UHGLWVIURP)RUPOLQH ............................................................................. 8. 00 9. Subtract line 8 from line 7. If less than zero, enter zero ..................................................................................... 9. 00 10. Recapture from Form 4947, line 28 .................................................................................................................... 10. 00 11. &,7/LDELOLW\EHIRUH&HUWL¿FDWHG5HIXQGDEOHFUHGLWV$GGOLQHVDQG ............................................................ 11. 00 12. &HUWL¿FDWHG5HIXQGDEOHFUHGLWVIURP)RUPOLQH ................................................................................... 12. 00 13. Subtract line 12 from line 11. If less than zero, enter as a negative number. (A negative number here represents an overpayment.) ..................................................................................... 13. 00 3$570%7&$/&8/$7,2172&203$5($*$,167&,7)25),1$1&,$/),/(56 14. Total MBT liability from Form 4590, line 30 ........................................................................................................ 14. 00 15. Refundable credits from Form 4590, line 37 ...................................................................................................... 15. 00 16. MBT liability after refundable credits. Subtract line 15 from line 14. If less than zero, enter as a negative number. (A negative number here represents an overpayment) ........................................................................ 16. 00 ,IOLQHLVJUHDWHUWKDQOLQHHQWHUWKHGLႇHUHQFH,IOLQHLVJUHDWHUWKDQRUHTXDOWROLQHHQWHU]HUR Carry to Form 4590, line 31 ................................................................................................................................ 17. 00 17. + 0000 2021 64 01 27 2 Instructions for Form 4975 Schedule of Corporate Income Tax (CIT) Liability for a Michigan Business Tax (MBT) Financial Filer Restrictions for MBT Filers %HJLQQLQJ -DQXDU\   RQO\ WKRVH WD[SD\HUV ZLWK D FHUWL¿FDWHG FUHGLW ZKLFK LV DZDUGHG EXW QRW \HW IXOO\ FODLPHG RUXWLOL]HGPD\HOHFWWREH0%7WD[SD\HUV Purpose 7R FDOFXODWH WKH &,7 OLDELOLW\ IRU D ¿QDQFLDO LQVWLWXWLRQ ¿OLQJ XQGHU0%7DQGFRPSDUHWKDWFDOFXODWLRQWRWKH0%7OLDELOLW\ DV FDOFXODWHG RQ WKH 0%7 $QQXDO 5HWXUQ IRU )LQDQFLDO Institutions )RUP   WR GHWHUPLQH WKH JUHDWHU RI WKH WZR FDOFXODWHGWD[OLDELOLWLHV (ႇHFWRI3XEOLF$FWRI (൵HFWLYH ZLWK WD[ \HDUV EHJLQQLQJ LQ  3$  RI  DOWHUV WKH GH¿QLWLRQ RI HTXLW\ FDSLWDO IRU D ¿QDQFLDO LQVWLWXWLRQ IRUD&RUSRUDWH,QFRPH7D[ &,7 ¿OHU$VDUHVXOWD0LFKLJDQ %XVLQHVV 7D[ ¿OHU PD\ QHHG WR FRPSOHWH ZRUNVKHHWV DWWDFKHG WRWKHVHLQVWUXFWLRQVEHIRUHFRPSOHWLQJ)RUP 3DUW&,7%HIRUH&UHGLWV IF THE EQUITY CAPITAL OF AN MBT FILER 5(3257('21)250/,1(,67+(6$0( $6:+$77+(7$;3$<(55(3257('217+( FFIEC FILING Line 1-4:7KHUHLVQRDPRXQWWREHHQWHUHGRQWKHVHOLQHV6NLS WROLQH&DUU\WKHDPRXQWVIURP)RUPOLQHFROXPQV$ WKRXJK(WR)RUPOLQHFROXPQV$WKURXJK( Line 2: (QWHU WKH DPRXQW WDNHQ DV D VXEWUDFWLRQ IRU *RRGZLOO IURP )RUP  OLQH  FROXPQV $ WKURXJK ( 7KLV DPRXQW PXVW EH DGGHG EDFN WR 1HW &DSLWDO WR GHWHUPLQH &,7 OLDELOLW\ EHFDXVHWKH*RRGZLOOGHGXFWLRQLVQRWSHUPLWWHGXQGHUWKDWWD[ Line 3: $GGOLQHVDQGLQHDFKFROXPQ Line 4:$GGOLQHV$%&'(,IOHVVWKDQ]HURHQWHU ]HURKHUHDQGRQOLQHVNLSWROLQH Line 5: 'LYLGHOLQHE\WKHQXPEHURIWD[SHULRGVUHSRUWHGLQ WKHWDEOHDQGHQWHUKHUH ,QWKH&,7total equity capitalLVWKHDPRXQWUHSRUWHGE\WKH ¿QDQFLDOLQVWLWXLRQRULQWKHFDVHRID8QLWDU\%XVLQHVV*URXS 8%* RI ¿QDQFLDO LQVWLWXLRQV WKH WRSWLHUHG SDUHQW HQWLW\ RQ FHUWDLQ UHJXODWRU\ IRUPV GHVLJQDWHG E\ WKH )HGHUDO )LQDQFLDO ,QVWLWXWLRQV ([DPLQDWLRQ &RXQFLO )),(&  DQG ¿OHG ZLWK WKH R൶FH RI WKH FRPSWUROOHU RI FXUUHQF\ WKH )HGHUDO 'HSRVLW ,QVXUDQFH&RUSRUDWLRQ )',& RUWKH)HGHUDO5HVHUYH6\VWHP IF THE EQUITY CAPITAL REPORTED IN MBT IS DIFFERENT THAN THE AMOUNT REPORTED ON 7+()),(&),/,1* )LUVW FRPSOHWH WKH ³0LFKLJDQ %XVLQHVV 7D[ )LQDQFLDO ,QVWLWXWLRQ:RUNVKHHW$´LQWKHVHLQVWUXFWLRQVDQGLQFOXGHLWLQ WKHUHWXUQ 7KHGH¿QLWLRQRIHTXLW\FDSLWDOLQ0%7LVQRWD൵HFWHGE\3$ RI Line 1: &DUU\WKHDPRXQWVIURP:RUNVKHHW$OLQHFROXPQV $WKURXJK(WR)RUPOLQHFROXPQV$WKURXJK( 7KHVHLQVWUXFWLRQVSURYLGHJXLGDQFHIRUWKHIROORZLQJ Line 2: (QWHU ]HUR RQ OLQH  FROXPQV $ WKURXJK ( DQG FRQWLQXHWROLQH • ,IWKHHTXLW\FDSLWDORIDQ0%7¿OHUUHSRUWHGRQ)RUP OLQHLVWKHVDPHDVZKDWWKHWD[SD\HUUHSRUWHGRQWKH)),(& ¿OLQJ • ,I WKH HTXLW\ FDSLWDO UHSRUWHG LQ 0%7 LV GL൵HUHQW WKDQ WKH DPRXQWUHSRUWRQWKH)),(&¿OLQJ • )RUD8%*,IWKHHTXLW\FDSLWDORIDQ0%7¿OHUUHSRUWHGRQ )RUPOLQHLVWKHVDPHDVZKDWWKHWD[SD\HUUHSRUWHG RQWKH)),(&¿OLQJ • )RU D 8%* ,I WKH HTXLW\ FDSLWDO UHSRUWHG LQ 0%7 LV GL൵HUHQWWKDQWKHDPRXQWUHSRUWRQWKH)),(&¿OLQJ 7KH IROORZLQJ VHFWLRQ SURYLGHV JXLGDQFH IRU DOO IRXU W\SHV RI WD[SD\HUVZKHQFRPSOHWLQJOLQHWKURXJKOLQH Line-by-Line Instructions /LQHVQRWOLVWHGDUHH[SODLQHGRQWKHIRUP (QWHUWKHWD[SD\HU¶VQDPHDQG)HGHUDO(PSOR\HU,GHQWL¿FDWLRQ 1XPEHU )(,1 LQWKHDSSURSULDWH¿HOGV UBGs: ,Q WKH 1DPH ¿HOG HQWHU WKH QDPH RI WKH '0 IRU WKH ¿QDQFLDO LQVWLWXWLRQV (QWHU WKH )(,1 IRU WKH '0 RI WKH ¿QDQFLDOJURXS Line 3:/LQH$GGOLQHVDQGLQHDFKFROXPQ Line 4:$GGOLQHV$%&'(,IOHVVWKDQ]HURHQWHU ]HURKHUHDQGRQOLQHVNLSWROLQH Line 5: 'LYLGHOLQHE\WKHQXPEHURIWD[SHULRGVUHSRUWHGLQ WKHWDEOHDQGHQWHUKHUH UBGs IF THE EQUITY CAPITAL OF AN MBT FILER 5(3257('21)250/,1(,67+(6$0( $6:+$77+(7$;3$<(55(3257('217+( )),(&),/,1* /HDYHOLQHVWKURXJKEODQN Line 4: &RPSOHWH ZLWK FRPELQHG GDWD IURP WKH UBG &RPELQHG )LOLQJ 6FKHGXOH IRU )LQDQFLDO ,QVWLWXWLRQV )RUP   DV IROORZV UHWDLQ D FRS\ RI DOO FDOFXODWLRQV IRU \RXU UHFRUGV  • )RUHDFKPHPEHUXVLQJDPRXQWVUHSRUWHGRQ)RUP ż $GGEDFN*RRGZLOOIURPOLQHFROXPQV$(WROLQH FROXPQV$( ż $GGWKHVXPVIURPHDFKFROXPQ • $GGWKHWRWDOVRIHDFKPHPEHUDQGFDUU\WR)RUPOLQH  /LQH'LYLGHOLQHE\WKHQXPEHURIWD[SHULRGVUHSRUWHGE\ WKHQXPEHURIWD[SHULRGVUHSRUWHGLQWKHWDEOHDQGHQWHUKHUH UBGs IF THE EQUITY CAPITAL REPORTED IN MBT BY A UBG FILER IS DIFFERENT THAN THE AMOUNT REPORT ON THE FFIEC FILING. )LUVWFRPSOHWHD³0LFKLJDQ%XVLQHVV7D[)LQDQFLDO,QVWLWXWLRQ :RUNVKHHW %´ IRU HDFK PHPEHU ZKRVH HTXLW\ is included in the FFIEC report7KHWRWDOVIURPHDFKPHPEHUZLOOEHXVHG WR FRPSOHWH WKH ³0LFKLJDQ %XVLQHVV 7D[ )LQDQFLDO ,QVWLWXWLRQ :RUNVKHHW$´6HHWKHZRUNVKHHWLQVWUXFWLRQVIRUJXLGDQFH Line 1:&DUU\WKHDPRXQWVIURP:RUNVKHHW$OLQHFROXPQV $WKURXJK(WR)RUPOLQHFROXPQV$( Line 2: (QWHU ]HUR RQ OLQH  FROXPQV $ WKURXJK ( DQG FRQWLQXHWROLQH /LQH$GGOLQHVDQGLQHDFKFROXPQ Line 4:$GGOLQHV$%&'(,IOHVVWKDQ]HURHQWHU ]HURKHUHDQGRQOLQHVNLSWROLQH Line 5: 'LYLGHOLQHE\WKHQXPEHURIWD[SHULRGVUHSRUWHGLQ WKHWDEOHDQGHQWHUKHUH 3DUW&UHGLWV Line 8: (QWHU FHUWL¿FDWHG QRQUHIXQGDEOH FUHGLW IURP )RUP OLQH Line 10:(QWHUWRWDOUHFDSWXUHRI&HUWDLQ%XVLQHVV7D[&UHGLWV IURP)RUPOLQH Line 12:(QWHUFHUWL¿FDWHGUHIXQGDEOHFUHGLWVIURP)RUP OLQH Line 13:6XEWUDFWOLQHIURPOLQH,IOHVVWKDQ]HURHQWHU DVDQHJDWLYHQXPEHU7KLVLVWKH&,7OLDELOLW\DIWHUFHUWL¿FDWHG UHIXQGDEOH FUHGLWV $ QHJDWLYH QXPEHU KHUH UHSUHVHQWV DQ RYHUSD\PHQW&DUU\WKLVDPRXQWWROLQHRIWKLVIRUP 3DUW0%7&DOFXODWLRQWR&RPSDUH$JDLQVW&,7IRU Financial Filers Line 14: (QWHUWKHWRWDO0%7OLDELOLW\IURP)RUPOLQH Line 15: (QWHU WKH WRWDO UHIXQGDEOH FUHGLWV IURP )RUP  OLQH Line 16:6XEWUDFWOLQHIURPOLQH,IOHVVWKDQ]HURHQWHU DVDQHJDWLYHQXPEHU7KLVLVWKH0%7OLDELOLW\DIWHUUHIXQGDEOH FUHGLWV$QHJDWLYHQXPEHUKHUHUHSUHVHQWVDQRYHUSD\PHQW Line 17: ,IOLQHLVJUHDWHUWKDQOLQHHQWHUWKHGL൵HUHQFH,I OLQHLVJUHDWHUWKDQRUHTXDOWROLQHHQWHU]HUR&DUU\WKLV DPRXQWWRIRUPOLQH7KLVDPRXQWZLOOEHDGGHGWRWKH 0%7/LDELOLW\WRGHWHUPLQH7RWDO7D[/LDELOLW\RQ)RUP ,QFOXGHFRPSOHWHG)RUPDVSDUWRIWKHWD[UHWXUQ¿OLQJ  Michigan Department of Treasury MBT Financial Worksheet A (Rev. 04-21) 2021 Michigan Business Tax Financial Institution Worksheet A Include a copy of Worksheet A with your MBT Return. If the taxpayer is a Unitary Business Group, also complete and include the “Michigan Business Tax Financial Institution Worksheet B.” Taxpayer Name or Designated Member (DM) if a UBG )HGHUDO(PSOR\HU,GHQWL¿FDWLRQ1XPEHU )(,1 7RSWLHUHGSDUHQWHQWLW\¿OLQJWKH)HGHUDO)LQDQFLDO,QVWLWXWLRQV([DPLQDWLRQ&RXQFLO )),(& UHSRUW Top-tiered parent entity FEIN NOTEIRUOLQHV If less than zero, enter zero. 1. Total Equity Capital. If less than zero, enter zero .............................................................................................. 1. 00 2. Average daily book value of Michigan obligations. If less than zero, enter zero ............................................... 2. 00 3. Average daily book value of U.S. obligations ......................................................................................................... 3. 00 4. Subtotal. Add lines 2 and 3 ................................................................................................................................ 4. 00 5. (Net Capital) Subtract line 4 from line 1............................................................................................................. 5. 00 6. a. Authorized insurance company subsidiary: enter actual capital fund amount ................................................ 6a. 00 b. Minimum regulatory amount required ............................................................................................................. 6b. 00 c. Multiply line 6b by 125% (1.25) ...................................................................................................................... 6c. 00 d. Enter the lesser of line 6a or line 6c ............................................................................................................... 6d. 00 Subtract line 6d from line 5 ................................................................................................................................ 7. 00 7. Carry the amount from line 7 to the “Schedule of Corporate Income Tax (CIT) Liability for a Michigan Business Tax (MBT) Financial Filer” (Form 4975), line 1.  Instructions for the Michigan Business Tax Financial Institution Worksheet A Purpose 7R KHOS FDOFXODWH HTXLW\ FDSLWDO IRU WKH SXUSRVH RI FRPSOHWLQJ WKH ³6FKHGXOH RI &RUSRUDWH ,QFRPH 7D[ &,7  /LDELOLW\ IRU D 0LFKLJDQ%XVLQHVV7D[ 0%7 )LQDQFLDO)LOHU´ )RUP  (ႇHFWVRI3XEOLF$FWRI (൵HFWLYH ZLWK WD[ \HDUV EHJLQQLQJ LQ  3$  RI  DOWHUV WKH GH¿QLWLRQ RI WRWDO HTXLW\ FDSLWDO IRU D ¿QDQFLDO LQVWLWXWLRQ ¿OLQJ D &,7 UHWXUQ 3$  GLG QRW DOWHU WKH GH¿QLWLRQ RI HTXLW\ FDSLWDO IRU DQ 0%7 ¿OHU +RZHYHU WR FRPSOHWH )RUP  DQ 0%7 WD[SD\HU PXVW FDOFXODWH LW¶V HTXLW\FDSLWDODVLILWZDVD&,7¿OHU For the purposes of Worksheet A, line 1, total equity capital LVWKHDPRXQWUHSRUWHGE\WKH¿QDQFLDOLQVWLWXLRQRULQWKHFDVH RI D Unitary Business Group (UBG) RI ¿QDQFLDO LQVWLWXLRQV WKH WRSWLHUHG SDUHQW\ HQWLW\ RQ FHUWDLQ UHJXODWRU\ IRUPV GHVLJQDWHG E\ WKH )HGHUDO )LQDQFLDO ,QVWLWXWLRQV ([DPLQDWLRQ &RXQFLO )),(& DQG¿OHGZLWKWKHR൶FHRIWKHFRPSWUROOHURI FXUUHQF\ WKH )HGHUDO 'HSRVLW ,QVXUDQFH &RUSRUDWLRQ )',&  RUWKH)HGHUDO5HVHUYH6\VWHP $¿QDQFLDOLQVWLWXWLRQZLOOXVHWKH)),(&UHJXODWRU\UHSRUWIRU WKHSHULRGHQGLQJZLWKWKH¿QDQFLDOLQVWLWXWLRQ¶V¿VFDO\HDUHQG /LNHZLVHIRUDXQLWDU\EXVLQHVVJURXSRI¿QDQFLDOLQVWLWXWLRQV WKH WD[SD\HU XVHV WKH )),(& UHJXODWRU\ UHSRUW IRU WKH SHULRG HQGLQJZLWKWKHWRSWLHUHGSDUHQWHQWLW\¶V¿VFDO\HDUHQG,IWKH ¿QDQFLDOLQVWLWXWLRQRUWRSWLHUHGSDUHQWHQWLW\GRHVQRWVXEPLW DUHSRUWIRUWKHSHULRGHQGLQJWKDWFRLQFLGHVZLWKLWV¿VFDO\HDU HQG WKH WD[SD\HU VKRXOG XVH WKH ODVW )),(& UHJXODWRU\ UHSRUW LVVXHGGXULQJLWV¿VFDO\HDU ,ID8%*WKHWD[SD\HUPXVWFRPSOHWHWKH³0LFKLJDQ%XVLQHVV 7D[ )LQDQFLDO ,QVWLWXLRQ :RUNVKHHW %´ EHIRUH FRPSOHWLQJ :RUNVKHHW$ Line-by-Line Instructions Lines not listed are explained on the form. (QWHU WKH QDPH DQG )HGHUDO (PSOR\PHQW ,GHQWL¿FDWLRQ 1XPEHU )(,1  RI WKH WD[SD\HU OLVWHG RQ WKH ³0LFKLJDQ %XVLQHVV 7D[ $QQXDO5HWXUQIRU)LQDQFLDO,QVWLWXWLRQV´ )RUP OLQHDQG OLQH $OVR HQWHU WKH QDPH RI WKH WRSWLHUHG SDUHQW\ HQWLW\ ¿OLQJ WKH )),(& UHSRUW DQG WKDW HQWLW\¶V )(,1 7KLV PD\ EH GL൵HUHQW IURP WKH HQWLW\ QDPHG LQ WKH SUHYLRXV ¿HOG LI WKH WRSWLHUHG HQWLW\GRHVQRWKDYHQH[XVZLWK0LFKLJDQ 7KH IROORZLQJ FDOFXODWLRQ LQYROYHV D ¿YH\HDU DYHUDJH RI QHW FDSLWDO (QWHU GDWD IURP WKH FXUUHQW \HDU DQG IRXU PRVW UHFHQW WD[ \HDUV WR FRPSOHWH WKH ¿YH\HDU WDEOH )RU SXUSRVHV RI WKLV WDEOHWUHDWDSDUWLDO\HDUDVDIXOO\HDU,IWKHFXUUHQWDQGIRXU SUHFHGLQJWD[\HDUVLQFOXGHDQ\VKRUWSHULRGVWKH\HDUVSULQWHG LQFROXPQKHDGLQJVIRUWKLVSDUWZLOOQRWDSSO\DFFXUDWHO\)RU H[DPSOH D ¿QDQFLDO LQVWLWXWLRQ KDV D ¿VFDO \HDUHQG RI -XQH  DQG LWV FXUUHQW WD[ \HDU LV D VKRUW \HDU HQGLQJ 6HSWHPEHU   7KDW ¿QDQFLDO LQVWLWXWLRQ UHSRUWV WKH SHULRGV HQGLQJ 6HSWHPEHU   -XQH   -XQH   -XQH  DQG-XQH  Lines 1 through 3:,IOHVVWKDQ]HURHQWHU]HUR Line 1: )RUWKHSXUSRVHRIWKLVZRUNVKHHWtotal equity capital LV GH¿QHG DV WKH DPRXQW UHSRUWHG E\ WKH ¿QDQFLDO LQVWLWXWLRQ RU LQ WKH FDVH RI D XQLWDU\ EXVLQHVV JURXS RI ¿QDQFLDO LQVWLWXWLRQV WKH WRSWLHUHG SDUHQW HQWLW\ RQ FHUWDLQ UHJXODWRU\ IRUPV GHVLJQDWHG E\ WKH )),(& DQG ¿OHG ZLWK WKH R൶FH RI WKH FRPSWUROOHU RI FXUUHQF\WKH )',& RU WKH )HGHUDO 5HVHUYH 6\VWHP 7KH DSSURSULDWH UHJXODWRU\ IRUP IURP ZKLFK WRWDO HTXLW\FDSLWDOLVUHSRUWHGGHSHQGVRQWKHVL]HDQGQDWXUHRIWKH UHSRUWLQJHQWLW\7KHIRUPVFXUUHQWO\GHVLJQDWHGE\WKH)),(& DQGUHTXLUHGE\WKH&,7DUH • 7KHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWIRUKROGLQJFRPSDQLHV )5<& • 7KH SDUHQW FRPSDQ\ RQO\ ¿QDQFLDO VWDWHPHQWV IRU VPDOO KROGLQJFRPSDQLHV)5<63 • 7RWKHH[WHQWWKDW)5<&RU)5<63DUHQRW¿OHGIRUWKH WD[\HDUWKHFRQVROLGDWHGUHSRUWVRIFRQGLWLRQDQGLQFRPHFDOO UHSRUWV)),(&RU ,I DQ\ RI WKHVH UHSRUWV LV QR ORQJHU GHVLJQDWHG E\ )),(& IRU ¿OLQJ D ¿QDQFLDO LQVWLWXWLRQ ZLOO UHSRUW WKDW DPRXQW RI WRWDO HTXLW\FDSLWDOUHSRUWHGRQDVXFFHVVRUIRUPRUDUHSRUWVLPLODU LQFRQWHQWDQGGHVLJQDWHGE\WKH)),(& Line 2: Michigan obligations PHDQV D ERQG QRWH RU RWKHU REOLJDWLRQLVVXHGE\DJRYHUQPHQWDOXQLWGHVFULEHGLQ6HFWLRQ RIWKH6KDUHG&UHGLW5DWLQJ$FW3XEOLF$FWRI0&/  UBGs:)RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUV IURP WKH FRUUHVSRQGLQJ FROXPQV RQ :RUNVKHHW % OLQH  DQG HQWHUWKHWRWDOVKHUH Line 3: United States obligations PHDQV DOO REOLJDWLRQV RI WKH8QLWHG6WDWHVH[HPSWIURPWD[DWLRQXQGHU86& D  RU H[HPSW XQGHU WKH 8QLWHG 6WDWHV FRQVWLWXWLRQ RU DQ\ IHGHUDO VWDWXWH LQFOXGLQJ WKH REOLJDWLRQV RI DQ\ LQVWUXPHQWDOLW\ RU DJHQF\RIWKH8QLWHG6WDWHVWKDWDUHH[HPSWIURPVWDWHRUORFDO WD[DWLRQXQGHUWKH8QLWHG6WDWHV&RQVWLWXWLRQRUDQ\VWDWXWHRI WKH8QLWHG6WDWHV UBGs:)RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUV IURP WKH FRUUHVSRQGLQJ FROXPQV RQ :RUNVKHHW % OLQH  DQG HQWHUWKHWRWDOVKHUH Line 6a: (QWHU WKH HTXLW\ FDSLWDO LQFOXGHG LQ WKH ¿QDQFLDO LQVWLWXWLRQ HTXLW\ FDSLWDO DQG LQFOXGHG LQ OLQH   RI DQ LQVXUDQFH FRPSDQ\ RZQHG E\ WKH WD[SD\HU WR WKH H[WHQW WKDW WKH HTXLW\ FDSLWDO WKH ¿QDQFLDO LQVWLWXWLRQ¶V LQYHVWPHQW  LV LQFOXGHG LQ OLQH  &RQVLGHU RQO\ LQVXUDQFH FRPSDQLHV DV GH¿QHG LQ 0&/  DQG VXEMHFW WR WKH 0LFKLJDQ¶V &,7 SUHPLXPV WD[ ZKLFK GRHV QRW LQFOXGH FDSWLYH LQVXUDQFH FRPSDQLHV )RU SXUSRVHV RI WKLV GHGXFWLRQ HTXLW\ FDSLWDO LV FDOFXODWHGLQDFFRUGDQFHZLWK*HQHUDOO\$FFHSWHG$FFRXQWLQJ 3ULQFLSOHV UBGs:)RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUV IURPWKHFRUUHVSRQGLQJFROXPQVRQ:RUNVKHHW%OLQHDDQG HQWHUWKHWRWDOVKHUH Line 6b: (QWHU WKH PLQLPXP UHJXODWRU\ FDSLWDOL]DWLRQ UHTXLUHPHQWV RI WKH LQVXUDQFH FRPSDQ\ ZKLFK DUH ¿[HG VWDWXWRU\PLQLPXPVVHWIRUWKLQ0LFKLJDQ¶V,QVXUDQFH&RGHRI  UBGs:)RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUV IURPWKHFRUUHVSRQGLQJFROXPQVRQ:RUNVKHHW%OLQHEDQG HQWHUWKHWRWDOVKHUH Line 6d:(QWHUWKHOHVVHURIOLQHDRUOLQHF UBGs:)RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUV IURPWKHFRUUHVSRQGLQJFROXPQVRQ:RUNVKHHW%OLQHGDQG HQWHUWKHWRWDOVKHUH Line 7:&DUU\WKHDPRXQWVIURPOLQHFROXPQV$WKRXJK(WR WKHFRUUHVSRQGLQJFROXPQVRQ)RUPOLQH Michigan Department of Treasury MBT Financial Worksheet B (Rev. 04-21) 2021 Michigan Business Tax Financial Institution Worksheet B Complete a copy of Worksheet B for each member of the Unitary Business Group with equity capital included in the Federal Financial Institutions Examination Council (FFIEC) report. Members with equity capital not included in the FFIEC report do not complete Worksheet B. Include all copies of Worksheet B with your MBT Return. Designated Member Designated Member FEIN Unitary Business Group Member Name Member FEIN NOTEIRUOLQHDQGOLQH If less than zero, enter zero. 1. Average daily book value of MI obligations ....................................................................................................... 1. 00 2. Average daily book value of U.S. obligations ........................................................................................................... 2. 00 3. a. Authorized insurance company subsidiary: enter actual capital fund amount ................................................................... 3a. 00 b. Minimum regulatory amount required .............................................................................................................................. 3b. 00 c. Multiply line 3b by 125% (1.25) ........................................................................................................................................... 3c. 00 d. Enter the lesser of line 3a or line 3c.................................................................................................................................... 3d. 00  Instructions for the Michigan Business Tax Financial Institution Worksheet B Purpose Line 3b:(QWHUWKHPLQLPXPFDSLWDOIXQGDPRXQWUHTXLUHGE\ UHJXODWLRQVIRUWKDWLQVXUDQFHVXEVLGLDU\ )RU D 8QLWDU\ %XVLQHVV *URXS  WKH ³0LFKLJDQ %XVLQHVV 7D[ )LQDQFLDO ,QVWLWXWLRQ :RUNVKHHW %´ KHOSV SURYLGH PHPEHU LQIRUPDWLRQWRFRPSOHWHWKH³0LFKLJDQ%XVLQHVV7D[)LQDQFLDO ,QVWLWXWLRQ:RUNVKHHW$´ )RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUVRQOLQH E DQG FDUU\ WR WKH FRUUHVSRQGLQJ FROXPQ RQ :RUNVKHHW $ OLQHE Line-by-Line Instructions Lines not listed are explained on the form. ,Q DOO FDVHV ZLWK RQH RU PRUH ¿QDQFLDO LQVWLWXWLRQV LQ D 8%* FRPSOHWHRQHFRS\RI:RUNVKHHW%IRUHDFK¿QDQFLDOLQVWLWXWLRQ LQ WKH 8%* 1RWH WKDW DQ HQWLW\ WKDW ZRXOG RWKHUZLVH EH D VWDQGDUG PHPEHU EXW LV RZQHG E\ DQG XQLWDU\ ZLWK D ¿QDQFLDO LQVWLWXWLRQ LV GH¿QHG E\ VWDWXWH WR EH D ¿QDQFLDO LQVWLWXWLRQ ,I D ¿QDQFLDO LQVWLWXWLRQ PHPEHU RWKHU WKDQ WKH '0  KDV WZR RU PRUHIHGHUDOWD[SHULRGVHQGLQJZLWKRUZLWKLQWKH¿OLQJSHULRG RI WKLV UHWXUQ XVH D VHSDUDWH FRS\ RI 3DUW % IRU HDFK RI WKDW PHPEHU¶VIHGHUDOSHULRGV Line 3c: )RU HDFK FROXPQ VXP WKH HQWULHV RI DOO 8%* PHPEHUVRQOLQHFDQGFDUU\WRWKHFRUUHVSRQGLQJFROXPQRQ :RUNVKHHW$OLQHF Line 3d: )RU HDFK FROXPQ VXP WKH HQWULHV RI DOO 8%* PHPEHUVRQOLQHGDQGFDUU\WRWKHFRUUHVSRQGLQJFROXPQRQ :RUNVKHHW$OLQHG (QWHUWKHQDPHDQG)HGHUDO(PSOR\PHQW,GHQWL¿FDWLRQ1XPEHU )(,1 RIWKH'HVLJQDWHG0HPEHUOLVWHGRQ:RUNVKHHW$LQWKH DSSURSULDWH¿HOGRQHDFKFRS\RI:RUNVKHHW% (QWHUWKHQDPHDQG)(,1 (QWHU WKH QDPH DQG )HGHUDO (PSOR\PHQW ,GHQWL¿FDWLRQ 1XPEHU )(,1 RIWKHPHPEHUZKRVHLQIRUPDWLRQLVUHSRUWHGRQOLQHV WKURXJKRI:RUNVKHHW% Line 1:8QGHU0&/ N Michigan obligationsPHDQV DERQGQRWHRURWKHUREOLJDWLRQLVVXHGE\DJRYHUQPHQWDOXQLW GHVFULEHGLQ6HFWLRQRIWKH6KDUHG&UHGLW5DWLQJ$FW3$ RI0&/ )RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUVRQOLQH DQGFDUU\WRWKHFRUUHVSRQGLQJFROXPQRQ:RUNVKHHW$OLQH  Line 2: United States obligations PHDQV DOO REOLJDWLRQV RI WKH8QLWHG6WDWHVH[HPSWIURPWD[DWLRQXQGHU86& D  RU H[HPSW XQGHU WKH 8QLWHG 6WDWHV FRQVWLWXWLRQ RU DQ\ IHGHUDO VWDWXWH LQFOXGLQJ WKH REOLJDWLRQV RI DQ\ LQVWUXPHQWDOLW\ RU DJHQF\RIWKH8QLWHG6WDWHVWKDWDUHH[HPSWIURPVWDWHRUORFDO WD[DWLRQ XQGHU WKH 8QLWHG 6WDWHV FRQVWLWXWLRQ RU DQ\ VWDWXWH RI WKH8QLWHG6WDWHV )RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUVRQOLQH DQGFDUU\WRWKHFRUUHVSRQGLQJFROXPQRQ:RUNVKHHW$OLQH  Line 3a: (QWHU WKH HTXLW\ FDSLWDO RI DQ LQVXUDQFH FRPSDQ\ RZQHG E\ WKH WD[SD\HU WR WKH H[WHQW WKDW WKH HTXLW\ FDSLWDO WKLV 8%* PHPEHU¶V LQYHVWPHQW  LV LQFOXGHG LQ WKH 7RWDO (TXLW\&DSLWDORI:RUNVKHHW$OLQH&RQVLGHURQO\LQVXUDQFH FRPSDQLHV DV GH¿QHG LQ 0&/  DQG VXEMHFW WR WKH 0LFKLJDQ¶V&,7SUHPLXPVWD[ZKLFKGRHVQRWLQFOXGHFDSWLYH LQVXUDQFH FRPSDQLHV )RU SXUSRVHV RI WKLV GHGXFWLRQ HTXLW\ FDSLWDO LV FDOFXODWHG LQ DFFRUGDQFH ZLWK *HQHUDOO\ $FFHSWHG $FFRXQWLQJ3ULQFLSOHV )RUHDFKFROXPQVXPWKHHQWULHVRIDOO8%*PHPEHUVRQOLQH DDQGFDUU\WRWKHFRUUHVSRQGLQJFROXPQRQ:RUNVKHHW$OLQH D 
Extracted from PDF file 2021-michigan-form-4975.pdf, last modified February 2022

More about the Michigan Form 4975 Corporate Income Tax TY 2021

We last updated the Schedule of Corporate Income Tax Liability for an MBT Financial Filer in March 2022, so this is the latest version of Form 4975, fully updated for tax year 2021. You can download or print current or past-year PDFs of Form 4975 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 4567 Business Tax Annual Return
Form 4763 E-file Authorization for Business Taxes MI-8879 (OBSOLETE)

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 4975 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 4975

We have a total of ten past-year versions of Form 4975 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2021 Form 4975

4975, Michigan Schedule of Corporate Income Tax Liability for a Michigan Business Tax Financial Filer

2020 Form 4975

4975, 2020 MICHIGAN Schedule of Corporate Income Tax Liability for a Michigan Business Tax Financial Filer

2019 Form 4975

4599, 2019 Michigan Business Tax Forms and Instructions for Financial Institutions

2018 Form 4975

4975, 2018 MICHIGAN Schedule of Corporate Income Tax Liability for a Michigan Business Tax Financial Filer

2017 Form 4975

4975, 2017 Michigan Schedule of Corporate Income Tax Liability for a Michigan Business Tax Financial Filer

2016 Form 4975

4575, 2016 Michigan Business Tax Loss Adjustment for the Small Business Alternative Credit


TaxFormFinder Disclaimer:

While we do our best to keep our list of Michigan Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/michigan/form-4975