Presentation 2 Presentation 2 Michigan Business Tax Michigan - - PowerPoint PPT Presentation
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
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
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
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
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
Sale Sale or
Sales
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 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 clos included in the inventory of the taxpayer if on hand at the close e
r sale to customers in the ordinary course of its trade or busines sale to customers in the ordinary course of its trade or business. s. 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
Sale Sale or
Sales:
Continued Continued
Performance of services which constitute business activities. business activities.
The rental, leasing, licensing or use of tangible
constitutes business activity. constitutes business activity.
Form 4567
Sale Sale or
Sales: :
Continued Continued
Any combination of business activities described previously. previously.
For taxpayers not engaged in any other business activities, sales include interest, dividends, and activities, sales include interest, dividends, and
activities and from trading assets and activities. activities and from trading assets and activities.
Form 4567
Sale Sale or
Sales: :
Continued Continued
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
Sourcing Sales Sourcing Sales
Property: Property:
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
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 property in Michigan; property in Michigan;
Form 4567
Sourcing Sales Sourcing Sales
Property Continued: Property Continued:
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 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 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
Sourcing Sales Sourcing Sales
Performance of Services: Performance of Services:
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.
Form 4567
Line 10e: Tax Year 2007 Line 10e: Tax Year 2007-
2008 Only Fiscal Year Filer Using Fiscal Year Filer Using Annual Method Annual Method
Form 4567
Tax Year 2007-
2008 Only Proration % = Proration % = # of months in MBT tax period # of months in MBT tax period Total months in 2007 Total months in 2007-
2008 federal tax year
Other MBT Form presentations
Treasury Web site, www.michigan.gov/MBT www.michigan.gov/MBT
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