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1MICHIGAN BUSINESS TAX. Michigan 42operations. 42. 8/21/07.
2FOUR IN ONE. The Michigan Business Tax INTANGIBLES. Royalties and intangibles are
(MBT) is actually four taxes in one Public sourced where the property is used by the
Act. It contains: Two general imposition purchaser. Multistate use apportioned by
provisions that apply to most business MI use/use everywhere. Default-exclude
entities, and Two special imposition from numerator and denominator. Customer
provisions that apply to insurance location is irrelevant. 43. 8/21/07.
companies and to financial organizations. 44SOURCING RECEIPTS OF SERVICES. Service
2. 8/21/07. income is sourced where recipient receives
3GENERAL IMPOSITION PROVISIONS. First, the benefit. Multistate use apportioned by
a 4.95% tax on a defined business income recipient’s MI benefit/benefit everywhere.
tax base, AND Second, a 0.8% tax on a “Cost of performance” sourcing no longer
defined modified gross receipts tax base. applicable. 44. 8/21/07.
3. 8/21/07. 45OTHER SOURCING PROVISIONS. Securities
4SPECIAL INSURANCE COMPANY IMPOSITION brokerage service receipts are sourced to
PROVISIONS. A 1.25% tax on defined direct customer’s address. Regulated investment
premiums or tax calculated under section companies receipts are based on
476a of the insurance code, whichever is shareholders domicile/mailing address. 45.
greater. 4. 8/21/07. 8/21/07.
IMPOSITION PROVISION. A 0.235% franchise Financing activities receipts (generally
tax on net capital. Special single sales follow RAB 2002-14). Transportation
factor apportionment calculations are receipts (generally sourced MI revenue
required. 5. 8/21/07. miles/ revenue miles everywhere). 46.
6UNITARY GROUPS. 6. 8/21/07. 8/21/07.
unitary business principle, if a taxpayer Telecommunications receipts have several
is carrying on a single unitary business sourcing rules. Telecommunications terms
within and without the state, the state follow the Streamlined Sales and Use Tax
has the requisite connection to the Agreement. 47. 8/21/07.
out-of-state activities of the business to 48SOURCING IN GENERAL. New default
justify inclusion in the taxpayer’s sourcing rule: Where the benefit to
apportionable tax base of all of the customer is received. If benefit received
property, income, or receipts attributable is undeterminable to customer’s location.
to the combined effect of the in-state and 48. 8/21/07.
out-state activities. 8/21/07. 49SOURCING. 49. Retained alternative
8UNITARY IN THE MBT. 8. “Unitary sourcing along lines of SBT section 69
business group” means: A group of U.S. Department’s discretion. Alternate method
persons other than a foreign operating may only be used if department approves.
entity; one of which owns/controls, Statutory apportionment is presumed to
directly or indirectly, more than 50% of represent activity. Taxpayer has burden of
the ownership interest of the other U.S. proof. Amended returns are not a petition
persons; and that has business activities for relief. 8/21/07.
or operations that result in a flow of 50INSURANCE COMPANY TAX BASE AND
value between or among persons in the CREDITS. 50. 8/21/07.
business group; or that has business 51INSURANCE COMPANIES. In lieu of the
activities or operations that are modified gross receipts and business
integrated with, are dependent upon, or income taxes. 1.25% of gross direct
contribute to each other. 8/21/07. premiums written on property or risk
9UNITARY IN THE MBT (CONT’D). 9. located in MI. 51. 8/21/07.
“Taxpayer” includes a unitary business 52INSURANCE COMPANIES (CONT’D). Some
group. A unitary business group shall file exemptions from the base – premiums not
a combined return. Must include each U.S. taken, canceled policies. $190 million of
person other than foreign operating disability insurance premiums, reduced if
entities. All transactions between persons more than $280 million in premiums
included in the unitary business group (increased). No traditional apportionment
must be eliminated from the business because only premiums on MI risks and
income tax base, the modified gross property are taxed. 52. 8/21/07.
receipts tax base, and the apportionment 53INSURANCE COMPANY CREDITS. 53. Credits
formula. Persons subject to the taxes Same as SBT Association payments 50%
under Chapters 2A and 2B of the MBT as examination fees New Alternate Credit
insurance companies or financial Company that does not make association
institutions are excluded from the payments qualifying for credit may take a
combined return. 8/21/07. credit for the amount of MI compensation
10FOREIGN OPERATING ENTITIES. 10. A credit allowed under Section 403(2) up to
unitary group does not include a Foreign 65% of tax liability after other credits
Operating Entity. “Foreign Operating allowed insurance companies. 8/21/07.
Entity” is all of the following: A U.S. 54INSURANCE COMPANY CREDITS (CONT’D).
person that would otherwise be a part of a Same as SBT Workers disability
unitary business group; Has substantial compensation payment credit. Refundable
operations outside the U.S. or any within 60 days for insurance companies
territory or possession; At least 80% of only. Can also be used against estimated
its income is active foreign business payments. 54. 8/21/07.
income as defined by section 861(c)(1)(B) 55FOREIGN INSURANCE COMPANY ALTERNATE
of the IRC. 8/21/07. TAX. Retaliatory Tax described in the
11UNITARY: FLOW OF VALUE. 11. “The insurance code. Identical to SBT
prerequisite to a constitutionally provision. 55. 8/21/07.
acceptable finding of unitary business is 56FINANCIAL INSTITUTION DEFINED. 56.
a flow of value . . .” Container, 463 US 8/21/07.
159 (1983). Common tests for identifying 57DEFINITIONS. 57. About 20 additional
unitary business (and a flow of value) new definitions for the MBT Financial
include: Functional integration (same line Institution – limited to: - Banks - Thrift
of business or steps in a vertically banks - Thrift institution - Savings and
integrated process); Centralized loan company - Any person owned directly
management (actual control; centralized or indirectly by a financial institution
departments or functions); Economies of other than insurance company taxed under
scale (exists whenever a function is Chapter 2A - A unitary business group of
enhanced through the sharing of the these entities. 8/21/07.
group’s resources). 8/21/07. 58FINANCIAL INSTITUTION TAX BASE. 58.
CONTRIBUTE. Alternate Test – (integrated, 59FINANCIAL INSTITUTION TAX BASE. 59.
dependent, and contribute): A taxpayer is Net capital as computed by Generally
engaged in a unitary business when its Accepted Accounting Principles (GAAP); -
activities within the state contribute to The average of net capital for current tax
or are dependent upon its activities year plus the past four years - Exception
without the state. 12. 8/21/07. for new businesses - With certain listed
13BUSINESS INCOME NEXUS. 13. 8/21/07. exclusions: >goodwill from purchase of
14SPECIAL BUSINESS INCOME NEXUS FOR accounting adjustments after 7/1/07
SALES OF TPP. 14. Tangible personal >U.S. and MI obligations - Guidance for
property (TPP) sales are subject to the the calculation in case of
narrower PL 86-272 federal statutory merger/acquisitions. 8/21/07.
jurisdictional standards, which provide 60FINANCIAL INSTITUTION APPORTIONMENT.
that nexus does not exist if business 60. 8/21/07.
activity in a state is limited to 61APPORTIONMENT FOR FINANCIAL
solicitation activities. Mere solicitation INSTITUTIONS. 61. Business activities
of TPP sales is insufficient to establish confined within MI are allocated to MI.
nexus. PL 86-272 is not applicable to Within and without MI is apportioned by
receipts on “services” or “intangibles” multiplying the tax base by the gross
which are subject to same nexus standard business factor. Gross business factor is
as for modified gross receipts. 8/21/07. total gross business in Michigan over
15BUSINESS INCOME TAX BASE. 15. 8/21/07. total gross business everywhere. Gross
16BUSINESS INCOME TAX BASE. Starting business defined in Sections 261(g) and
point: federal taxable income from 269, and includes fees for financial
business activity. Applies to all entity services; gains from sales of loans, etc.;
types. S corps & partnerships include interest; and other receipts from
in taxable income any income or expense financial operations. Gross business
attributed to business activity reported includes every member of a unitary group
separately to partners or shareholders. No regardless of nexus with intercompany
casual transaction exclusion. 16. 8/21/07. eliminations. Generally follows RAB
17BUSINESS INCOME TAX BASE (CONT'D). SBT 2002-14. 8/21/07.
modifications to tax base that have been 62CREDITS AND CREDIT CARRYOVERS. 62.
deleted: Compensation Depreciation and 8/21/07.
capitalized expenses Royalty and interest 63RETAINED CREDITS. 63. Many SBT credits
add backs. 17. 8/21/07. are retained under MBT (10 credits):
18BUSINESS INCOME TAX BASE (CONT'D). SBT Start-up business credit Michigan early
modifications to tax base that have been stage venture capital voucher Workers’
retained: Dividends and interest received disability compensation Food bank and
on obligations of other states. Taxes on homeless shelter contribution Next Energy
or measured by income Federal net Renaissance Zone Historic Preservation
operating losses. Income /losses from Brownfield Hematite MEGA payroll. 8/21/07.
other entities subject to this tax. Income 64SBT CREDITS NOT RETAINED IN MBT (11
from U.S. obligations. 18. 8/21/07. CREDITS). 64. Public Utility Property Tax
19BUSINESS INCOME TAX BASE (CONT'D). New Credit Hybrid Technology R & D
modification to tax base: Deduct net Pharmaceuticals Unincorporated Business
earnings from self employment included in Credit MEGA Business Activity Credit
federal taxable income unless they are a Enterprise Zone Apprenticeship Donated
return of capital. Add intangibles Auto Minority Venture Capital Credit
expenses included in federal taxable Transferred Jobs Credit Created Jobs
income made to related parties not part of Credit. 8/21/07.
the unitary group. 19. 8/21/07. 65CREDITS EXPANDED IN MBT. Some credits
20BUSINESS INCOME TAX BASE (CONT'D). were retained but slightly expanded (2
Exceptions to intangibles expense add credits): Public contribution (expanded to
back: Taxpayer must demonstrate include the Michigan housing and community
transaction is not to avoid taxes. development fund as a public institution)
Transaction was at arms-length. AND Community foundation credit (expanded to
satisfies one of the following: 20. include education foundations). 65.
8/21/07. 8/21/07.
arms length transaction was: A pass More notable expansions (2 credits)
through from a 3rd party to the related Alternate Credit Qualifying thresholds
person with comparable rates and terms, or have been increased: Adjusted business
Would be taxed by another jurisdiction, or income (ABI) limit was increased from
Addition is unreasonable based on facts $475,000 to $1.3 million. Gross receipts
and circumstances. 21. 8/21/07. limit increased to $19-$20 million from
22UNITARY BUSINESS INCOME TAX BASE. $9-$10 million. Allocated income limit
Group files combined return – transfer increased to $160,000-$180,000 from
pricing not allowed. Add tax bases of $95,000-$115,000. Only the adjusted
group members – apply combined business income threshold is indexed to
apportionment %. Foreign operating inflation. Alternate tax rate is reduced
entities, insurance companies, & to 1.8 percent from 2.0 percent. 8/21/07.
financial institutions cannot participate. 67CREDITS EXPANDED IN MBT (CONT’D). 67.
22. 8/21/07. Personal Property Tax Credit The 15
23BUSINESS LOSS CARRYOVER. 2008 1st year percent SBT industrial personal property
allowed – apportioned loss may be carried tax credit is increased to 35 percent. Two
forward 10 years. Apportion in year new personal property tax credits are
incurred – carryover to next year after added: - 23 percent for State Utility
apportionment. Portion of unused SBT loss personal property taxes (telephone
carryover used in gross receipts tax base. property). Reduced to 13.5 percent in
23. 8/21/07. subsequent years. 10 percent natural gas
24MODIFIED GROSS RECEIPTS TAX NEXUS. 24. pipeline utility personal property tax
8/21/07. credit. Credits are refundable. 8/21/07.
25NEXUS. Taxpayer has a physical 68CREDIT CARRY FORWARDS FROM SBT. Unused
presence for more than 1 day per tax year, SBT credits may be carried forward and
OR Taxpayer actively solicits sales and applied against MBT liability for tax
has MI gross receipts of $350,000 or more. years 2008 and 2009 only -- unless
25. 8/21/07. specified separately. Historic
26NEXUS. Physical presence means “any Preservation and Brownfield carryforwards
activity” by: A taxpayer, or its are available for the same period they
independent contractor, or its would have been under the SBT. 68.
representative. SBT RAB 1998-1 remains 8/21/07.
helpful for determining physical presence, 69NEW MBT CREDITS. 69. Notable new MBT
but by its own terms is limited to SBT. A Credits for activities in MI only:
new MBT Nexus RAB will be developed. 26. Compensation Credit - Equal to 0.37
8/21/07. percent of MI compensation. Investment Tax
27NEXUS. Physical presence exclusion Credit - Equal to 2.9 percent of MI
for: Professionals providing services in a investment. Research and Development -
professional capacity, or Other service Equal to 1.9 percent of MI research and
providers if the activity is NOT development expenses. Credits are “less
associated with establishing a MI market. than non-refundable” Sum of the
27. 8/21/07. compensation credit and investment tax
28NEXUS. “Actively solicits” is to be credit cannot exceed 65 percent of MBT
defined by the department. Applied liability before credits. Sum of all three
prospectively Note: Modified Gross cannot exceed 75 percent of MBT liability
Receipts Nexus standard differs from that before credits. 8/21/07.
of the business income tax portion of the 70NEW MBT CREDITS (CONT’D). 70. Filing
MBT applicable to sales of tangible Threshold Credit Deals with the cliff
personal property. 28. 8/21/07. introduced by the $350,000 filing
29MODIFIED GROSS RECEIPTS TAX BASE. 29. threshold alone. The credit is equal to
8/21/07. the amount by which the allocated or
30MODIFIED GROSS RECEIPTS TAX BASE. apportioned gross receipts are less than
Gross Receipts defined as: The entire $700,000 divided by $350,000 times MBT
amount received by the taxpayer from any liability. The credit declines linearly
activity whether in intrastate, (and tax liability increases linearly) as
interstate, or foreign commerce carried on gross receipts increase -- instead of an
for gain to the taxpayer or others. 30. all or nothing cliff. 8/21/07.
8/21/07. 71NEW MBT CREDITS (CONT’D). Other new
31MODIFIED GROSS RECEIPTS TAX BASE - credits (8 credits) Research and
EXCLUSIONS. 31. Amounts received as an Development MEGA Credit NASCAR Speedway
agent on behalf of the principal. Certain Credit Stadium Credit Arts and Culture
amounts realized from the sale of Credit Michigan Entrepreneurial Credit New
marketable instruments. Receipt of the Motor Vehicle Dealer Credit Two Michigan
loan principal by residential mortgage Headquartered Food Retailer Credits. 71.
companies. Receipts by a professional 8/21/07.
employer organization of the cost of wages 72ADMINISTRATION. 72. 8/21/07.
paid under the professional employer 73ADMINISTRATION. Tax administered
arrangement. Amounts received by auto pursuant the Revenue Act. Treasury must
dealers subsidizing interest expenses. promulgate rules to implement the MBT. 73.
8/21/07. 8/21/07.
(CONT'D). The tax base is a taxpayer’s 8/21/07.
gross receipts less “purchases from other 75ESTIMATED RETURNS AND PAYMENTS. 75.
firms” before apportionment. “Purchases Quarterly estimates due for taxpayer
from other firms” means: Inventory expecting tax liability to exceed $800.
acquired during the tax year. Depreciable Calendar year estimates due 4/15, 7/15,
assets acquired during the tax year. 10/15, and 1/15. Corresponding dates for
Materials and supplies, including repair fiscal filers and first year less than 12
parts and fuel. 32. 8/21/07. months. Safe harbor (no interest) if 85%
33MODIFIED GROSS RECEIPTS TAX BASE of tax liability and a reasonable
(CONT'D). Compensation of personnel approximation per quarter or, for tax year
supplied to customers of a staffing 2009 and after, if prior year’s tax is
company. Payments by contractors to $20,000 or less, prior year’s amount in 4
subcontractors. A unitary business group’s equal payments. 1% gross receipts safe
modified gross receipts is the sum of each harbor gone. 8/21/07.
person’s modified gross receipts in the 76FIRST TAXABLE YEAR CALCULATION FOR
group, less modified gross receipts from FISCAL FILERS. 76. 8/21/07.
transactions between persons in the group. 77FIRST TAXABLE YEAR CALCULATION FOR
33. 8/21/07. FISCAL FILERS. May elect one of the
34SBT LOSS CARRYFORWARD MODIFICATION. following: - Annual method, reporting the
For tax year 2008, firms may deduct 65% of taxpayer’s full year multiplied by a ratio
business loss carryforward left from the of the number of months in the tax year
Single Business Tax Act, “actually included under the MBT over 12. - Actual
incurred in the 2006 or 2007 tax year.” method, reporting only those months
For a unitary group, the deduction may included under the MBT. 77. 8/21/07.
only be taken against the modified gross 78ANNUAL/FINAL RETURN, EXTENSIONS,
receipts of the person with the loss. 34. FILING THRESHOLD. 78. 8/21/07.
35CARS & BOATS. New motor vehicle last day of 4th month after tax year end
and watercraft dealers may separately with payment of final liability. Extension
itemize the modified gross receipts tax on by department for good cause with
invoices to their customers and collect application and payment of tax due.
the tax in addition to the sales price. Automatic extension if federal extension
The amount remitted to Treasury for the to last day of 8th month with copy of
tax cannot be less than the stated and federal request for extension with
collected amount. Note: Amounts separately tentative return and payment of estimated
itemized as modified gross receipts tax tax. 79. 8/21/07.
are subject to sales tax on taxable sales 80FILING THRESHOLD. Taxpayers other than
of motor vehicles and watercraft. 35. Insurance Companies or Financial
8/21/07. Organizations not required to file or pay
36APPORTIONMENT. 36. 8/21/07. if apportioned gross receipts less than
37ALLOCATION AND APPORTIONMENT. Single $350,000. Filing threshold annualized for
factor apportionment based on sales. No tax year less than 12 months. 80. 8/21/07.
throwback sales. Sales are sourced to 81PORTION OF MBT EARMARKED TO SCHOOL AID
another state if that state has FUND(SAF). In fiscal year (FY) 2007-2008,
jurisdiction to tax even if that state $136 million collected will be distributed
does not do so. 37. 8/21/07. to the SAF. The balance goes into the
38SALES FACTOR. Formula: MI sales/sales general fund. In FY 2008-2009, $479
everywhere “Finnegan” is applied to million will go into the SAF. After FY
unitary groups when at least one person in 2009, the amount earmarked to the SAF is
the group has Nexus, all MI sales by increased by the rate of inflation. SBT
persons in the unitary group are included Comparison: All SBT revenue goes into the
in the numerator. 38. 8/21/07. general fund. 81. 8/21/07.
GAS. Ultimate destination test is applied. of a court of competent jurisdiction
Sourced to where property comes to rest determines that any provision of this act
regardless of shipping terms. Gas and that provides a deduction, credit, or
electricity sourced based on where exemption with respect to employment,
contract requires delivery. 39. 8/21/07. person, services, investments, or other
40SOURCING OF REAL PROPERTY RECEIPTS. activity in the state is unconstitutional
Real property is sourced where the or applies to a similar activity outside
property is located. 40. 8/21/07. of the state, that provision shall be
41SOURCING RECEIPTS OF TPP LEASES. severed and the remaining provisions would
Leased tangible personal property is remain in effect. 82. 8/21/07.
sourced where the property is utilized. 83REVENUE LIMIT FOR MBT. If net cash
“Utilized” is determined by the number of payments exceed specified amounts for
MI rental days/rental days everywhere. 2008, 2009 and 2010, half of excess goes
Default is where lessee obtained to the Budget Stabilization Fund (BSF) and
possession of TPP. 41. 8/21/07. half is refunded on a pro rata basis. For
42SOURCING RECEIPTS OF MOBILE PROPERTY. 2008, net cash payments include SBT
Leased mobile transportation property is payments. Revenue from insurance companies
sourced where property is used. Aircraft is excluded from the calculation. 83.
use is determined by MI landings/landings 8/21/07.
everywhere. Default is principal base of 84QUESTIONS??? 84. 8/21/07.
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