Michigan Form 514 PDF Details

The Michigan Department of Treasury's Form 514, known as the Conditional Tax Clearance Request, serves as a critical document for businesses undergoing significant transitions. Originating from a legislative framework built over decades, with statutes dating back to 1921 and as recent as 1980, this form embodies a comprehensive approach to ensuring businesses comply with Michigan's tax laws during periods of change. Specifically designed for entities like sole-proprietorships, partnerships, limited liability companies, and corporations that have sold a majority of their assets yet intend to remain operational for tax purposes, the form facilitates a smoother transition by requesting clearance from the state. Such clearance is crucial for businesses that, while having divested themselves of substantial assets, plan to continue filing tax returns until they decide on potentially filing a Certificate of Dissolution. The detail-oriented nature of the form requires accurate information regarding the business's identity, operational history, and plans post-clearance, along with specifics about any business sales or transfers. Submitting this form effectively, along with all necessary tax returns and payments up to the point of business discontinuation, is a pivotal step for any Michigan business navigating the complexities of asset disposition while maintaining compliance with state tax obligations.

QuestionAnswer
Form NameMichigan Form 514
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other names514f_3584_7 michigan tax clearance for sole proprietorship form

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Michigan Department of Treasury 514 (Rev. 09-12)

Date

Conditional Tax Clearance Request

Issued under the provision of Public Act 144 of 1921, as amended; Public Act 265 of 1947, as amended; Public Act 281 of 1967, as amended; Public Act 119 of 1980, as amended; Public Act 167 of 1933, as amended; and Public Act 94 of 1937, as amended.

IMPORTANT: This is a request for a Michigan Conditional Tax Clearance by a sole-proprietorship, partnership, limited liability company or corporation that has sold most of its assets, but the corporate shell will remain to continue iling tax returns (when due) until the corporation later determines whether it will ile a Certiicate of Dissolution with the Corporation Division.

This form must be completed in its entirety.

Name of Sole-Proprietorship, Partnership or Corporation, Limited Liability Company

 

 

 

Federal Employer Identiication Number or TR Number

 

 

 

 

 

 

Owner(s) Name(s) (if sole-proprietorship or partnership)

 

 

 

Social Security Number(s)

 

1.

 

 

 

 

 

 

 

1.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

 

 

 

 

 

 

 

2.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Doing Business As (trade name)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Street Address of Location Requesting Clearance

City

 

 

State

 

ZIP Code

 

 

 

 

 

 

 

 

 

 

 

 

 

If a Corporation, Date Incorporated in Michigan (mm/dd/yyyy)

Date Business Started at This Location (mm/dd/yyyy)

 

 

 

 

 

 

 

 

 

 

 

 

Date Business Discontinued at This Location (mm/dd/yyyy)

Ending Date of Last Payroll at This Location (mm/dd/yyyy)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Are you continuing business activity after clearance?

If Yes, Expected Gross Receipts for the Year

 

 

 

 

 

Yes

 

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residence Address of Discontinued Taxpayer

Residence Telephone Number (including area code)

 

 

 

 

 

 

 

Does taxpayer operate more than one place of business?

If multiple locations, is clearance requested for the above location only?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yes

 

No

 

 

Yes

 

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Names and Addresses of Business Locations Still in Operation (use reverse side if necessary)

 

 

 

 

 

 

 

 

 

 

Have you sold or disposed of business to another entity?

If Yes, Date of Sale (mm/dd/yyyy)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yes

 

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If Yes, Name and Address of Purchaser

 

 

 

 

 

 

 

 

 

 

Purchaser’s Federal Employer Identiication Number or TR Number

Is money being held in escrow pending receipt of a tax clearance?

 

 

 

 

 

 

 

Yes

 

No

Amount if Yes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Name and Address of Holder of Escrow Money

 

 

 

Attention:

 

 

 

 

 

 

 

Holder’s Telephone Number (include area code)

Month(s) Included on Final Federal 941 Return

 

 

 

 

 

 

 

 

 

 

Name and Location of Holder of Seller’s Books and Records

 

 

 

 

 

 

 

 

Certiication: I declare under penalty of perjury that I am the owner, oficer or, member of the business on which tax clearance is requested and that the information is true (Submit a Limited Power of Attorney (Form 3840) if not the owner, oficer, or member).

Print Name

Title

 

 

Signature

 

A business requesting a Michigan Conditional Tax Clearance should forward all uniled Michigan tax returns (up to the date of discontinuance) together with all remittances for those returns with this form to the address below. Mail form directly to: Tax Clearance

Section, Michigan Department of Treasury, P.O. Box 30168, Lansing, MI 48909.

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1. Whenever completing the Michigan Form 514, make sure to complete all of the important blanks within the corresponding form section. It will help facilitate the process, allowing your details to be processed fast and properly.

Michigan Form 514 completion process outlined (stage 1)

2. Once your current task is complete, take the next step – fill out all of these fields - Are you continuing business, If Yes Expected Gross Receipts for, Yes, Residence Address of Discontinued, Residence Telephone Number, Does taxpayer operate more than, If multiple locations is clearance, Yes, Yes, Names and Addresses of Business, Have you sold or disposed of, If Yes Date of Sale mmddyyyy, Yes, If Yes Name and Address of, and Purchasers Federal Employer with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

Completing section 2 in Michigan Form 514

Always be extremely attentive while completing If multiple locations is clearance and Residence Telephone Number, because this is the section in which most users make errors.

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