Michigan Form 4568 – Fill Out and Use This PDF

Michigan Department of Treasury 4568 (Rev. 05-11), Page 1

Attachment 02

1.	Tax before all credits from Form 4567, line 53, or Form 4590, line 26			1.
2.	SBT credit carryforwards used from Form 4569, line 13			2.
3.	Tax After SBT credit carryforwards. Subtract line 2 from line 1.
	If less than zero, enter zero	3.		00
4.	a. Compensation and Investment Tax Credits from Form 4570, line 26				4a.
	b. If Form 4570, line 20, is negative, enter here as a negative number. Otherwise, leave blank				4b.
5.	Research and Development Credit from Form 4570, line 33			5.
6.	Tax After Research and Development Credit. Subtract lines 4a, 4b
	and 5 from line 3 (see instructions)	6.		00
7.	Small Business Alternative Credit from Form 4571, line 13 or 19, whichever applies			7.
8.	Gross Receipts Filing Threshold Credit from Form 4571, line 27			8.
9.	Tax After Gross Receipts Filing Threshold Credit. Subtract lines 7 and
	8 from line 6 (see instructions)	9.		00
10.	Community and Education Foundations Credit from Form 4572, line 5			10.
11.	Homeless Shelter/Food Bank Credit from Form 4572, line 9			11.
12.	Tax After Homeless Shelter/Food Bank Credit. Subtract lines 10 and
	11 from line 9. If less than zero, enter zero	12.		00
13.	NASCAR Speedway Credit from Form 4573, line 3			13.
14.	Stadium Credit from Form 4573, line 6			14.
15.	Start-up Business Credit from Form 4573, line 9.	If less than zero, enter as a negative number		15.
16.	Tax After Start-up Business Credit. Subtract lines 13, 14 and 15 from
	line 12. If less than zero, enter zero	16.		00
17.	Public Contribution Credit from Form 4572, line 14			17.
18.	Arts and Culture Credit from Form 4572, line 19			18.
19.	Tax After Arts and Culture Credit. Subtract lines 17 and 18 from line
	16 (see instructions)	19.		00
20.	Next Energy Business Activity Credit from Form 4573, line 12			20.
21.	Renaissance Zone Credit from Form 4573, line 14			21.
22.	Historic Preservation Credit Net of Recapture from Form 4573, line 17b			22.
23.	Low-Grade Hematite Credit from Form 4573, line 22			23.
24.	New Motor Vehicle Dealer Inventory Credit from Form 4573, line 27			24.

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4568, Page 2

FEIN or TR Number

25.	Large Food Retailer Credit from Form 4573, line 31	25.
26.	Mid-size Food Retailer Credit from Form 4573, line 35	26.
27.	Bottle Deposit Administration Credit from Form 4573, line 39	27.
28.	MEGA Federal Contract Credit from Form 4573, line 41	28.
29.	Biofuel Infrastructure Credit from Form 4573, line 44	29.
30.	Individual or Family Development Account Credit from Form 4573, line 50	30.
31.	Bonus Depreciation Credit from Form 4573, line 54	31.
32.	International Auto Show Credit from Form 4573, line 57	32.
33.	Brownield Redevelopment Credit from Form 4573, line 59	33.
34.	Private Equity Fund Credit from Form 4573, line 64	34.
35.	Film Job Training Credit from Form 4573, line 69	35.
36.	Film Infrastructure Credit from Form 4573, line 75	36.
37.	MEGA Plug-In Traction Battery Manufacturing Credit from Form 4573, line 78	37.
38.	Anchor Company Payroll Credit from Form 4573, line 80	38.
39.	Anchor Company Taxable Value Credit from Form 4573, line 82	39.
40.	Total Nonrefundable Credits. Add lines 2, 4a, 4b, 5, 7, 8, 10, 11, 13, 14, 15, 17, 18, and 20 through 39.
	Enter total here and carry total to Form 4567, line 54, or Form 4590, line 27	40.

41.Tax After Nonrefundable Credits. Subtract line 40 from line 1. If less than zero, enter zero. (This line must be equal to Form 4567, line 55,

or Form 4590, line 28.)

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Purpose

The purpose of this form is to determine a taxpayer’s tax liability after application of nonrefundable tax credits.

Form 4568 is intended to summarize all applicable nonrefundable credits. Speciic eligibility criteria, including varying credit carryforward life spans, apply to each of the

nonrefundable credits. For more details about each of the

credits, refer to the MBT Act or the instructions for the speciic

forms referenced on this form.

NOTE: This form may be used by both standard taxpayers and inancial institutions. Insurance companies use the

Miscellaneous Credits for Insurance Companies (Form 4596) to claim credits for which they may be eligible. Of the credits listed on this form, inancial institutions may only claim the following:

•Single Business Tax (SBT) Credit Carryforwards

•Compensation Credit

•Renaissance Zone Credit

•Historic Preservation Credit

•Individual or Family Development Account Credit

•Brownield Redevelopment Credit

•Film Infrastructure Credit.

The goal of arranging credits in this fashion is to minimize the need for taxpayers to go through all the available forms before deciding which ones may be applicable to them. Under the present arrangement, taxpayers are able to identify the forms pertaining to them, and eficiently prepare the tax return. Taxpayers should claim all credits for which they are eligible.

Special Instructions for Unitary Business Groups

Credits are earned and calculated on either an entity-speciic or group basis, as determined by the relevant statutory provisions for the respective credits. Intercompany transactions are not eliminated for the calculation of most credits. Credits earned or calculated on either an entity-speciic or group basis by Unitary Business Group (UBG) members are generally applied against the tax liability of the UBG, unless otherwise speciied by

statute.

Entity-speciic provisions are applied on a member-by-member basis and are addressed in the line-by-line instructions of each form. In none of these cases does a taxpayer that is a UBG take the entity type of its parent, Designated Member (DM), or any other member of the UBG. A UBG taxpayer will not

be attributed an entity type based on the composition of its members.

Complete one Form 4568 for the group.

Further UBG instructions are provided on the forms where the

credits are calculated.

Line-by-Line Instructions

Lines not listed are explained on the form.

NAME AND ACCOUNT NUMBER: Enter name and account number as reported on page 1 of the applicable MBT annual return

(either the MBT Annual Return (Form 4567) for standard taxpayers or the MBT Annual Return for Financial Institutions (Form 4590)).

LINE 6: Although most of the entries on this form are credits that cause tax liability to decrease, if there is an entry on line 4b, subtracting that negative number will cause tax liability to

increase.

The total created by the calculations in this line cannot be less than zero. A total of less than zero is only possible through a

calculation error or an incorrect line entry.

LINE 9: The total created by the calculations in this line cannot be less than zero. A total of less than zero is only possible through a calculation error or an incorrect line entry.

LINE 16: Although most of the entries on this form are credits that cause tax liability to decrease, if there is a negative entry on line 15, subtracting that negative number will cause tax

liability to increase.

LINE 19: The total created by the calculations in this line cannot be less than zero. A total of less than zero is only possible through a calculation error or an incorrect line entry.

Include completed Form 4568 as part of the tax return iling.