Presentation 2 Presentation 2 Michigan Business Tax Michigan Business Tax Annual Return Annual Return Form 4567, Lines 1 through 10 Form 4567, Lines 1 through 10
Presentation Overview Presentation Overview � Forms located in Presentation Resources Forms located in Presentation Resources � section section Please print before viewing presentation � Please print before viewing presentation � � Able to skip to specific slides Able to skip to specific slides � � Numerous other MBT Forms Numerous other MBT Forms � Presentations Presentations � Forms are DRAFT versions Forms are DRAFT versions �
Form 4567 - - MBT Annual Return MBT Annual Return Form 4567 Line 1: Return date Line 1: Return date Line 2: Taxpayer’s name, DBA name, address and Line 2: Taxpayer’s name, DBA name, address and country code country code Line 3: Brief description of business activity Line 3: Brief description of business activity Form 4567
Form 4567 - - MBT Annual Return MBT Annual Return Form 4567 Line 4: Business Start Date in Michigan Line 4: Business Start Date in Michigan Line 5: NAICS (North American Industry Line 5: NAICS (North American Industry Classification System) Code Classification System) Code Line 6: If Discontinued, Effective Date Line 6: If Discontinued, Effective Date Form 4567
Form 4567 - - MBT Annual Return MBT Annual Return Form 4567 Line 7: Federal Employer Identification Number Line 7: Federal Employer Identification Number (FEIN) or TR Number (FEIN) or TR Number Line 8: Organization Type Line 8: Organization Type Line 9: Filing a Michigan Unitary Business Group Line 9: Filing a Michigan Unitary Business Group Return Return Form 4567
Line 10: Special Computations Line 10: Special Computations Apportionment Calculation Apportionment Calculation Lines 10a – – 10d: Completed when taxable in 10d: Completed when taxable in Lines 10a another state another state Total sales in Michigan during the tax year (Line 10b) Total sales in Michigan during the tax year (Line 10b) Total sales everywhere during the tax year (Line 10c) Total sales everywhere during the tax year (Line 10c) Form 4567
Line 10: Special Computations Line 10: Special Computations Apportionment Calculation Apportionment Calculation Sale or or Sales Sales Sale Amounts received by the taxpayer as consideration from the Amounts received by the taxpayer as consideration from the following: following: � The transfer of title to, or possession of, property that is sto The transfer of title to, or possession of, property that is stock in ck in � trade or other property of a kind which would properly be trade or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close e included in the inventory of the taxpayer if on hand at the clos of the tax period, or property held by the taxpayer primarily for r of the tax period, or property held by the taxpayer primarily fo sale to customers in the ordinary course of its trade or business. s. sale to customers in the ordinary course of its trade or busines For intangible property, the amounts received will be limited to For intangible property, the amounts received will be limited to any gain received from the disposition of that property. any gain received from the disposition of that property. Form 4567
Line 10: Special Computations Line 10: Special Computations Apportionment Calculation Apportionment Calculation Sale or or Sales: Sales: Sale Continued Continued � Performance of services which constitute Performance of services which constitute � business activities. business activities. � The rental, leasing, licensing or use of tangible The rental, leasing, licensing or use of tangible � or intangible property, including interest, that or intangible property, including interest, that constitutes business activity. constitutes business activity. Form 4567
Line 10: Special Computations Line 10: Special Computations Apportionment Calculation Apportionment Calculation Sale or or Sales Sales : : Sale Continued Continued � Any combination of business activities described Any combination of business activities described � previously. previously. � For taxpayers not engaged in any other business For taxpayers not engaged in any other business � activities, sales include interest, dividends, and activities, sales include interest, dividends, and other income from investment assets and other income from investment assets and activities and from trading assets and activities. activities and from trading assets and activities. Form 4567
Line 10: Special Computations Line 10: Special Computations Apportionment Calculation Apportionment Calculation Sale or or Sales Sales : : Sale Continued Continued � Do[es] not include amounts from an interest in a Do[es] not include amounts from an interest in a � Partnership, S Corporation or LLC (unless the Partnership, S Corporation or LLC (unless the LLC is wholly owned by the taxpayer and LLC is wholly owned by the taxpayer and disregarded for federal tax purposes). disregarded for federal tax purposes). Form 4567
Line 10: Special Computations Line 10: Special Computations Apportionment Calculation Apportionment Calculation Sourcing Sales Sourcing Sales Property: Property: � Sales of tangible personal property shipped or delivered Sales of tangible personal property shipped or delivered � to Michigan based on the ultimate destination at the to Michigan based on the ultimate destination at the point the property comes to rest, regardless of FOB or point the property comes to rest, regardless of FOB or other sales conditions; other sales conditions; � In the case of gas and electricity, a contract that In the case of gas and electricity, a contract that � requires the property to be shipped or delivered to a requires the property to be shipped or delivered to a purchaser within Michigan; purchaser within Michigan; � Receipts from the sale, lease, rental or licensing of real Receipts from the sale, lease, rental or licensing of real � property in Michigan; property in Michigan; Form 4567
Line 10: Special Computations Line 10: Special Computations Apportionment Calculation Apportionment Calculation Sourcing Sales Sourcing Sales Property Continued: Property Continued: � Receipts from the lease or rental of tangible personal Receipts from the lease or rental of tangible personal � property to the extent that the property is utilized in property to the extent that the property is utilized in Michigan; Michigan; � Receipts from the lease or rental of mobile Receipts from the lease or rental of mobile � transportation property to the extent the property is transportation property to the extent the property is used in Michigan; and used in Michigan; and � Royalties and other income received for the privilege of Royalties and other income received for the privilege of � using intangible property to the extent used by the using intangible property to the extent used by the purchaser in Michigan. purchaser in Michigan. Form 4567
Line 10: Special Computations Line 10: Special Computations Apportionment Calculation Apportionment Calculation Sourcing Sales Sourcing Sales Performance of Services: Performance of Services: � Receipts from performance of services in proportion to Receipts from performance of services in proportion to � the extent that the recipient receives the benefit of the the extent that the recipient receives the benefit of the services in Michigan; services in Michigan; Others Others � See Sourcing of Sales to Michigan in the Appendix. See Sourcing of Sales to Michigan in the Appendix. � Form 4567
Line 10: Special Computations Line 10: Special Computations Line 10e: Tax Year 2007- -2008 Only 2008 Only Line 10e: Tax Year 2007 Fiscal Year Filer Using Fiscal Year Filer Using √ Annual Method Annual Method Form 4567
Line 10: Special Computations Line 10: Special Computations Lines 10f- -h: h: Tax Year 2007 Lines 10f Tax Year 2007- -2008 Only 2008 Only Proration % = # of months in MBT tax period # of months in MBT tax period Proration % = Total months in 2007- -2008 federal tax year 2008 federal tax year Total months in 2007 Form 4567
Other Resources Other Resources � Other MBT Form presentations Other MBT Form presentations � � Treasury Web site, Treasury Web site, www.michigan.gov/MBT www.michigan.gov/MBT � � Customer Contact 517 Customer Contact 517- -636 636- -4657 4657 �
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