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Michigan Nonrefundable Credits Summary
, or request a six-month extension here .Extracted from PDF file 2024-michigan-form-4568.pdf, last modified January 2025Nonrefundable Credits Summary
Attachment 02 Michigan Department of Treasury 4568 (Rev. 04-24), Page 1 of 2 2024 MICHIGAN Business Tax Nonrefundable Credits Summary Issued under authority of Public Act 36 of 2007. Taxpayer Name 1. Tax before all credits from Form 4567, line 53, or Form 4590, line 26........................................................ 1. 00 2. There is no amount to be entered on this line. Skip to line 3...................................................................... 2. X X X X X X X X X X X 00 4. a. Compensation and Investment Tax Credits from Form 4570, line 26..................................................... 4a. 00 b. If Form 4570, line 20, is negative, enter here as a negative number. Otherwise, leave blank............... 4b. 00 5. Research and Development Credit from Form 4570, line 33...................................................................... 5. 00 7. Small Business Alternative Credit from Form 4571, line 13 or 19, whichever applies................................ 7. 00 8. Gross Receipts Filing Threshold Credit from Form 4571, line 27................................................................ 8. 00 10. Community and Education Foundations Credit from Form 4572, line 5...................................................... 10. 00 11. Homeless Shelter/Food Bank Credit from Form 4572, line 9...................................................................... 11. 00 13. This credit is no longer available. Leave this line blank and skip to line 15................................................ 13. X X X X X X X X X X X 00 14. This credit is no longer available. Leave this line blank and skip to line 15................................................ 14. X X X X X X X X X X X 00 15. Start-up Business Credit from Form 4573, line 9. If less than zero, enter as a negative number.............. 15. 00 17. Public Contribution Credit from Form 4572, line 14.................................................................................... 17. 00 18. Arts and Culture Credit from Form 4572, line 19......................................................................................... 18. 00 20. Next Energy Business Activity Credit from Form 4573, line 12................................................................... 20. 00 21. Renaissance Zone Credit from Form 4573, line 14..................................................................................... 21. 00 22. Historic Preservation Credit Net of Recapture from Form 4573, line 17b................................................... 22. 00 23. Low-Grade Hematite Credit from Form 4573, line 22................................................................................. 23. 00 24. New Motor Vehicle Dealer Inventory Credit from Form 4573, line 27......................................................... 24. 00 3. Tax After SBT credit carryforwards. Enter amount from line 1. If less than zero, enter zero ................................................................... 6. Tax After Research and Development Credit. Subtract lines 4a, 4b and 5 from line 3 (see instructions)........................................................ 9. Tax After Gross Receipts Filing Threshold Credit. Subtract lines 7 and 8 from line 6 (see instructions)............................................................... 12. Tax After Homeless Shelter/Food Bank Credit. Subtract lines 10 and 11 from line 9. If less than zero, enter zero............................................ 16. Tax After Start-up Business Credit. Subtract lines 13 and 15 from line 12. If less than zero, enter zero.............................................................. 19. Tax After Arts and Culture Credit. Subtract lines 17 and 18 from line 16 (see instructions)............................................................................... + Federal Employer Identification Number (FEIN) or TR Number 0000 2024 15 01 27 9 3. 6. 9. 12. 16. 19. 00 00 00 00 00 00 Continue on Page 2 2024 Form 4568, Page 2 of 2 25. Large Food Retailer Credit from Form 4573, line 31................................................................................... 25. 00 26. Mid-size Food Retailer Credit from Form 4573, line 35............................................................................... 26. 00 27. Bottle Deposit Administration Credit from Form 4573, line 39..................................................................... 27. 00 28. MEGA Federal Contract Credit from Form 4573, line 41............................................................................ 28. 00 29. Individual or Family Development Account Credit from Form 4573, line 47................................................ 29. 00 30. Bonus Depreciation Credit from Form 4573, line 51................................................................................... 30. 00 31. International Auto Show Credit from Form 4573, line 54............................................................................. 31. 00 32. Brownfield Redevelopment Credit from Form 4573, line 56........................................................................ 32. 00 33. Private Equity Fund Credit from Form 4573, line 61................................................................................... 33. 00 34. Film Job Training Credit from Form 4573, line 66....................................................................................... 34. 00 35. Film Infrastructure Credit from Form 4573, line 72...................................................................................... 35. 00 36. MEGA Plug-In Traction Battery Manufacturing Credit from Form 4573, line 75.......................................... 36. 00 37. Anchor Company Payroll Credit from Form 4573, line 77........................................................................... 37. 00 38. Anchor Company Taxable Value Credit from Form 4573, line 79................................................................ 38. 00 39. MEGA Poly-Silicon Energy Cost Credit and Miscellaneous MEGA Battery Credits from Form 4573, line 81.......................................................................................................................................................... 39. 00 40. Total Nonrefundable Credits. Add lines 4a, 4b, 5, 7, 8, 10, 11, 15, 17, 18, and 20 through 39. Enter total here and carry total to Form 4567, line 54, or Form 4590, line 27.............................................................. 40. 00 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.)........................................................................... + FEIN or TR Number 0000 2024 15 02 27 7 41. 00 Instructions for Form 4568 Michigan Business Tax (MBT) Nonrefundable Credits Summary Purpose Line-by-Line Instructions The purpose of this form is to determine a taxpayer’s tax liability after application of nonrefundable tax credits. Lines not listed are explained on the form. Form 4568 is intended to summarize all applicable nonrefundable credits. Specific 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 specific forms referenced on this form. NOTE: Beginning January 1, 2012, only those taxpayers with a certificated credit, which is awarded but not yet fully claimed or utilized, may elect to be MBT taxpayers. NOTE: This form may be used by both standard taxpayers and financial 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, financial 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 Brownfield 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 efficiently prepare the tax return. Taxpayers should claim all credits for which they are eligible. 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 filing. Special Instructions for Unitary Business Groups Credits are earned and calculated on either an entity-specific or group basis, as determined by the relevant statutory provisions for the respective credits. Intercompany transactions are not eliminated for the calculation of any credits. Credits earned or calculated on either an entity-specific or group basis by Unitary Business Group (UBG) members are generally applied against the tax liability of the UBG, unless otherwise specified by statute. Entity-specific 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. 49
4568, 2024 Michigan Business Tax Nonrefundable Credits Summary
More about the Michigan Form 4568 Corporate Income Tax Tax Credit TY 2024
We last updated the Nonrefundable Credits Summary in March 2025, so this is the latest version of Form 4568, fully updated for tax year 2024. You can download or print current or past-year PDFs of Form 4568 directly from TaxFormFinder. You can print other Michigan tax forms here.
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TaxFormFinder has an additional 97 Michigan income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 4763 | E-file Authorization for Business Taxes MI-8879 (OBSOLETE) |
| Form 4918 | Annual Flow-Through Withholding Reconciliation Return (OBSOLETE) |
| Form 4569 | SBT Credit Carryforwards |
| Form 4571 (Obsolete) | Common Credits for Small Businesses |
| Form 4572 (Obsolete) | Charitable Contribution Credits |
View all 98 Michigan Income Tax Forms
Form Sources:
Michigan usually releases forms for the current tax year between January and April. We last updated Michigan Form 4568 from the Department of Treasury in March 2025.
Form 4568 is a Michigan Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Michigan Form 4568
We have a total of fourteen past-year versions of Form 4568 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2024 Form 4568
4568, 2024 Michigan Business Tax Nonrefundable Credits Summary
2022 Form 4568
4568, 2022 Michigan Business Tax Nonrefundable Credits Summary
2021 Form 4568
4568, Michigan Business Tax Nonrefundable Credits Summary
2020 Form 4568
2020 MICHIGAN Business Tax Nonrefundable Credits Summary
2019 Form 4568
4568, 2019 Michigan Business Tax Nonrefundable Credits Summary
2018 Form 4568
4568, 2018 MICHIGAN Business Tax Nonrefundable Credits Summary
2017 Form 4568
4568, 2017 Michigan Business Tax Nonrefundable Credits Summary
2016 Form 4568
4568, 2016 Michigan Business Tax Nonrefundable Credits Summary
2011 Form 4568
Form 4568, 2011 Michigan Business Tax Nonrefundable Credit Summary
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