Michigan Corporate Income Tax (CIT) Forms and Instructions for Financial Institutions (includes Form 4908 and Form 4910)

Corporate Income Tax (CIT) Forms and Instructions for Financial Institutions (includes Form 4908 and Form 4910)
4907, Corporate Income Tax Book for Financial Institutions
FINANCIAL INSTITUTIONS
This booklet contains information on
completing a Michigan Corporate Income
Ta x r e t u r n f o r c a l e n d a r ye a r 2 0 2 3 o r
a f i s c a l ye a r e n d i n g i n 2 0 2 4 .
	 	E-filing	your	return	is	easy,	fast,	and	secure!
	 	Visit	Treasury’s	Web	site	at	
www.MIfastfile.org	for	a	list	of	e-file	
resources	and	how	to	find	an	e-file	
provider.

W W W. M I FA S T F I L E . O R G

F I LI N G D UE DATE:

CA LENDAR FILER S — APRIL 3 0 , 2 0 24
FI SCAL F I LERS — TH E LAS T DAY O F T HE FO U R T H
M O NT H AFTER TH E END O F T HE TAX YEAR.

W W W. M I C H I G A N . G OV/ TA X E S
This booklet is intended as a guide to help complete your return. It does not take the place of the law.
Michigan Department of Treasury — 4907 (Rev. 12-23)

MICHIGAN 2023

Corporate
Income Tax

2023 General Information for Financial Institutions
Standard Taxpayers and Insurance Companies: See the Corporate Income Tax (CIT) Instruction Booklet for Standard Taxpayers
(Form 4890) or the CIT Instruction Booklet for Insurance Companies (Form 4904) at www.michigan.gov/taxes.

This booklet is intended as a guide to help complete the CIT
return. It does not take the place of the law.

Who Files a Financial Return?
File	 a	 CIT Annual Return for Financial Institutions	 (Form	
4908)	if	the	taxpayer	is	any	of	the	following:
• A	 bank	 holding	 company,	 a	 national	 bank,	 a	 state	 chartered	
bank,	 a	 state	 chartered	 savings	 bank,	 a	 federally	 chartered	
savings	 association,	 or	 a	 federally	 chartered	 farm	 credit	
system	institution.
• Any	 entity,	 other	 than	 an	 entity	 subject	 to	 the	 tax	 imposed	
under	 Chapter	 12	 (insurance	 company),	 who	 is	 directly	 or	
indirectly	 owned	 by	 an	 entity	 described	 in	 206.651(f)(i)	 and	
is	a	member	of	the	UBG.
• A	UBG	consisting	of	entities	described	above.
NOTE:	 Because	 the	 definition	 of	 financial	 institution	 for	 CIT	
purposes	 includes	 any	 entity	 (except	 an	 insurance	 company)	 that	
is	 owned	 by	 a	 bank	 or	 other	 entity	 (as	 described	 above)	 and	 is	 a	
member	 of	 a	 UBG	 with	 its	 parent,	 this	 may	 cause	 an	 entity	 that	
is	not	commonly	thought	of	as	a	financial	institution	to	be	treated	
as	one	for	return	filing	purposes.	A	UBG	of	financial	institutions	
must	 file	 a	 combined	 return	 on	 Form	 4908	 that	 includes	 each	
member	of	the	group	that	is	a	financial	institution.	
If	 the	 taxpayer	 is	 not	 any	 of	 the	 above,	 check	 to	 see	 if	 filing	
either	 the	 Insurance Company Annual Return for Corporate
Income and Retaliatory Taxes (Form	 4905)	 or	 the	 CIT Annual
Return	(Form	4891)	for	standard	filers	is	required.	

Using This Booklet
This	 CIT	 financial	 institution	 booklet	 includes	 forms	 and	
instructions	for	financial	institutions.	These	forms	are	designed	
for	 calendar	 year	 2022	 and	 for	 a	 fiscal	 filer	 with	 a	 federal	 tax	
year	ending	in	2023.
Read	 the	 “General	 Information”	 first.	 It	 is	 recommended	 that	
taxpayers	and	tax	preparers	review	the	instructions	for	all	forms.

Overview of CIT for Financial Institutions
Every	 financial	 institution	 with	 nexus	 in	 Michigan	 is	 subject	 to	
a	franchise	tax.	The	franchise	tax	is	imposed	upon	the	tax	base	
of	 the	 financial	 institution	 after	 allocation	 or	 apportionment	 to	
Michigan	at	the	rate	of	0.29	percent.

Filing CIT Quarterly Tax Estimates
If	 estimated	 liability	 for	 the	 year	 is	 reasonably	 expected	 to	
exceed	$800,	a	taxpayer	must	file	estimated	returns.	A	taxpayer	
may	 remit	 quarterly	 estimated	 payments	 by	 check	 with	 a	
Corporate Income Tax Quarterly Return	 (Form	 4913)	 or	 may	
remit	 monthly	 or	 quarterly	 estimated	 payments	 electronically	
by	 Electronic	 Funds	 Transfer	 (EFT).	 When	 payments	 are	 made	
by	EFT,	Form	4913	is	not	required.

NOTE:	 Formerly,	 taxpayers	 could	 pay	 by	 check	 on	 a	 monthly	
or	 quarterly	 basis	 by	 remitting	 a	 check	 with	 a	 Combined	
Return	 for	 Michigan	 Tax	 (Form	 160).	 Form	 160	 was	 replaced.	
The	 new	 form	 no	 longer	 accommodates	 CIT	 payments.	 As	
a	 result,	 Form	 4913	 is	 the	 only	 form	 that	 supports	 a	 CIT	
estimated	payment.
Estimated	 returns	 and	 payments	 for	 calendar	 year	 taxpayers	
are	 due	 to	 Treasury	 by	 April	 15,	 July	 15,	 October	 15,	 and	
January	 15	 of	 the	 following	 year.	 Fiscal	 year	 taxpayers	 should	
make	 returns	 and	 payments	 by	 the	 appropriate	 due	 date	 which	
is	 fifteen	 days	 after	 the	 end	 of	 each	 fiscal	 quarter.	 The	 sum	 of	
estimated	 payments	 for	 each	 quarter	 must	 always	 reasonably	
approximate	the	liability	for	the	quarter.
NOTE: Your	 debit	 transaction	 will	 be	 ineligible	 for	 EFT	 if	
the	 bank	 account	 used	 for	 the	 electronic	 debit	 is	 funded	 or	
otherwise	 associated	 with	 a	 foreign	 account	 to	 the	 extent	 that	
the	 payment	 transaction	 would	 qualify	 as	 an	 International	
ACH	 Transaction	 (IAT)	 under	 NACHA	 Rules.	 Contact	 your	
financial	 institution	 for	 questions	 about	 the	 status	 of	 your	
account.	 Contact	 the	 Michigan	 Department	 of	 Treasury’s	
(Treasury)	 Corporate	 Income	 Tax	 Division	 at	 517-636-6925	
for	alternate	payment	methods.
The	 estimated	 payment	 made	 with	 each	 quarterly	 return	 must	
be	computed	on	the	actual	CIT	for	the	quarter,	or	25	percent	of	
the	estimated	total	liability	if	paying	a	CIT	liability.
To	 avoid	 interest	 and	 penalty	 charges,	 estimated	 payments	
must	 equal	 at	 least	 85	 percent	 of	 the	 total	 liability	 for	 the	
tax	 year	 and	 the	 amount	 of	 each	 estimated	 payment	 must	
reasonably	 approximate	 the	 tax	 liability	 for	 that	 quarter.	
If	 the	 prior	 year’s	 tax	 under	 the	 Income	 Tax	 Act	 is	 $20,000	
or	 less,	 estimated	 tax	 may	 be	 based	 on	 the	 prior	 year’s	 total	
tax	 liability	 paid	 in	 four	 equal	 installments.	 (“Four	 equal	
installments”	 describes	 the	 minimum	 pace	 of	 payments	 that	
will	 satisfy	 this	 safe	 harbor.)	 If	 the	 prior	 year’s	 tax	 liability	
was	 reported	 for	 a	 period	 less	 than	 12	 months,	 this	 amount	
must	 be	 annualized	 for	 purposes	 of	 both	 the	 $20,000	
ceiling	 and	 calculating	 the	 quarterly	 payments	 due	 under	
this	 method.	 Payments	 at	 a	 more	 accelerated	 pace	 also	 will	
qualify.	If	the	year’s	tax	liability	is	$800	or	less,	estimates	are	
not	required.
NOTE:	 Reliance	 on	 the	 tax	 liability	 of	 the	 prior	 year	 as	 a	
means	 to	 avoid	 interest	 and	 penalty	 charges	 is	 only	 allowed	 if	
you	 had	 business	 activity	 in	 Michigan	 in	 that	 prior	 year	 and	
filed	 a	 CIT	 return	 for	 that	 prior	 year.	 A	 return	 must	 be	 filed	
to	 establish	 the	 tax	 liability	 for	 that	 prior	 year,	 even	 if	 gross	
receipts	 in	 the	 prior	 year	 were	 less	 than	 $350,000.	 In	 addition,	
if	 your	 business	 was	 not	 in	 existence	 in	 the	 preceding	 year,	 no	
safe	 harbor	 exists.	 In	 such	 a	 case,	 estimates	 must	 be	 based	 on	
the	CIT	liability	for	the	current	year.	There	is	no	prior-year	safe	
harbor	 for	 a	 taxpayer’s	 first	 CIT	 tax	 period.	 	 For	 a	 taxpayer’s	
first	CIT	tax	period	the	estimates	must	equal	at	least	85	percent	
of	the	total	CIT	liability,	as	explained	above.

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Amending Estimates
If,	 after	 making	 payments,	 the	 estimated	 tax	 is	 substantially	
different	 than	 originally	 estimated,	 recompute	 the	 tax	 and	
adjust	the	payment	in	the	next	quarter.

Electronic Filing of CIT Returns
Michigan	 has	 an	 enforced	 CIT	 e-file	 mandate.	 Software	
developers	 producing	 CIT	 tax	 preparation	 software	 and	
computer-generated	 forms	 must	 support	 e-file	 for	 all	 eligible	
Michigan	 forms	 that	 are	 included	 in	 their	 software	 package.	
All	 eligible	 CIT	 returns	 prepared	 using	 tax	 preparation	
software	or	computer-generated	forms	must	be	e-filed.
Treasury	 will	 be	 enforcing	 the	 CIT	 e-file	 mandate.	 The	
enforcement	includes	not	processing	computer-generated	paper	
returns	that	are	eligible	to	be	e-filed.	A	notice	will	be	mailed	to	
the	 taxpayer,	 indicating	 that	 the	 taxpayer’s	 return	 was	 not	 filed	
in	 the	 proper	 form	 and	 content	 and	 must	 be	 e-filed.	 Payment	
received	 with	 a	 paper	 return	 will	 be	 processed	 and	 credited	 to	
the	taxpayer’s	account	even	when	the	return	is	not	processed.
Treasury	 will	 continue	 to	 accept	 certain	 Portable	 Document	
Format	 (PDF)	 attachments	 with	 CIT	 e-filed	 returns.	 A	 current	
list	 of	 defined	 attachments	 is	 available	 in	 the	 CIT	 “Michigan	
Tax	 Preparer	 Handbook	 for		 Electronic	 Filing	 Programs,”	 which	
is	 available	 on	 the	 Treasury	 Web	 site	 at	 www.MIfastfile.org
by	 clicking	 on	 “Tax	 Preparer,”	 then	 “Corporate	 Income	 Tax	
Handbook”	 for	 the	 applicable	 tax	 year.	 Follow	 your	 software	
instructions	for	submitting	attachments	with	an	e-filed	return.

If	 the	 CIT	 return	 includes	 supporting	 documentation	 or	
attachments	that	are	not	on	the	predefined	list	of	attachments,	the	
return	 can	 still	 be	 e-filed.	 Follow	 your	 software	 instructions	 for	
including	 additional	 attachments.	 The	 tax	 preparer	 or	 taxpayer	
should	retain	file	copies	of	all	documentation	or	attachments.
For	more	information	and	program	updates,	including	exclusions	
from	e-file,	visit	the	e-file	Web	site	at	www.MIfastfile.org.	
The	 taxpayer	 may	 be	 required	 to	 e-file	 its	 federal	 return.	 Visit	
the	 Internal	 Revenue	 Service	 (IRS)	 Web	 site	 at	 www.irs.gov
for	more	information	on	federal	e-file	requirements	and	the	IRS	
Federal/State	Modernized	e-File	(MeF)	program.

Complete Federal Tax Forms First
Before	 preparing	 CIT	 returns,	 complete	 all	 federal	 tax	 forms.	
These	forms	may	include:	
• Fiduciaries	 —	 U.S.	 Form	 1041,	 1065,	 and	 related	 Schedules	
C,	C-EZ,	D,	E,	K,	4797,	and	8825.	
• Corporations	 —	 U.S.	 Form	 1120, 1120-S,	 and	 Schedules	 D,	
K,	851, 940,	4562,	4797,	and	8825.	
• Limited	 Liability	 Companies	 (LLCs)	 —	 federal	 forms	 listed	
above,	depending	on	how	federal	returns	have	been	filed.	
Reference	these	federal	forms	to	complete	Form	4908.	
Copies	 of	 certain	 pages	 from	 these	 federal	 forms	 must	 also	 be	
attached	to	the	annual	return	filed.	See	the	instructions	for	Form	
4908	for	further	details.

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Completing Michigan Forms
Treasury	 captures	 the	 information	 from	 paper	 CIT	 returns	
using	 an	 Intelligent	 Character	 Recognition	 process.	 If	
completing	 a	 paper	 return,	 avoid	 unnecessary	 delays	 caused	
by	 manual	 processing	 by	 following	 the	 guidelines	 below	 so	 the	
return	is	processed	quickly	and	accurately.
• Use black or blue ink.	Do	not	use	pencil,	red	ink,	or	felt	tip	
pens.	Do	not	highlight	information.
• Print using capital letters	 (UPPER	 CASE).	 Capital	 letters	
are	easier	to	recognize.
• Print numbers like this: 0123456789. Do	 not	 put	 a	
slash through	the	zero	(	 )	or	seven	(	7 ).
• Fill check boxes with an [X].	Do	not	use	a	check	mark	[a].
• Leave lines/boxes blank	 if	 they	 do	 not	 apply	 or	 if	 the	
amount	is	zero,	unless	otherwise	instructed.	
• Do not enter data in boxes filled with Xs.
• Do not write extra numbers, symbols, or notes on the
return, such	 as	 cents,	 dashes,	 decimal	 points	 (excluding	
percentages),	 or	 dollar	 signs,	 unless	 otherwise	 instructed.	
Enclose	 any	 explanations	 on	 a	 separate	 sheet	 unless	
instructed	to	write	explanations	on	the	return.
• Date format, unless otherwise specified, should be in the
following format:	 MM-DD-YYYY.	 Use	 dashes	 (-)	 rather	
than	slashes	(/).
• Enter phone numbers using dashes	(e.g.,	517-555-5555);	do	
not	use	parentheses.
• Stay within the lines	when	entering	information	in	boxes.	
• Report losses and negative amounts with a negative
sign in front of the number (do not use parentheses).	 For	
example,	 a	 loss	 in	 the	 amount	 of	 $22,459	 should	 be	 reported	
as	-22,459.
• Percentages should be carried out four digits to the
right of the decimal point.	 Do	 not	 round	 percentages.	
For	 example,	 24.154266	 percent	 becomes	 24.1542	 percent.	
When	 converting	 a	 percentage	 to	 a	 decimal	 number,	 carry	
numbers	 out	 six	 digits	 to	 the	 right	 of	 the	 decimal	 point.	 For	
example,	24.154266	percent	becomes	0.241542.	
• Report all amounts in whole dollars.	 Round	 down	
amounts	 of	 49	 cents	 or	 less.	 Round	 up	 amounts	 of	 50	 cents	
or	 more.	 If	 cents	 are	 entered	 on	 the	 form,	 they	 will	 be	
treated	as	whole	dollar	amounts.	

Suggested Order of Analysis and Preparation of
an CIT Annual Return
First,	 determine	 whether	 the	 taxpayer	 has	 nexus	 with	
Michigan.	 Nexus	 is	 a	 legal	 term	 that	 expresses	 whether	 a	
taxpayer	 has	 sufficient	 connection	 to	 Michigan	 to	 justify	
subjecting	the	taxpayer	to	Michigan	tax.
For	 information	 on	 nexus,	 and	 other	 CIT	 issues,	 see	 the	
Michigan	 Department	 of	 Treasury	 (Treasury)	 Web	 site	 at	
www.michigan.gov/treasury.	(Click	on	the	“Corporate	Income	
Tax”	 on	 the	 left	 side	 of	 the	 page.)	 Treasury	 will	 post	 updates	

here	 and	 via	 Revenue	 Administrative	 Bulletin	 (available	 in	 the	
“Reference”	link	on	the	left	side	of	the	page).
For	 a	 taxpayer	 using	 Form	 4908,	 first	 complete	 lines	 1	 through	
20,	 which	 is	 sufficient	 to	 calculate	 total	 liability	 before	
recapture	 of	 Certain	 Business	 Tax	 Credits.	 At	 that	 point,	 if	 any	
recapture	of	credits	exists	begin	the	CIT Schedule of Recapture
of Certain Business Tax Credits	(Form	4902).	

Further General Guidance
For	 purposes	 of	 CIT,	 taxpayer	 means	 a	 C	 Corporation,	
insurance	 company,	 financial	 institution,	 or	 a	 unitary	 business	
group	liable	for	tax,	interest,	or	penalty.		
A Unitary Business Group	 (UBG)	 is	 a	 group	 of	 United	
States	 persons	 that	 are	 corporations,	 insurance	 companies,	 or	
financial	 institutions,	 other	 than	 a	 foreign	 operating	 entity,	 that	
satisfies	the	following	criteria:
• One	 of	 the	 persons	 owns	 or	 controls,	 directly	 or	 indirectly,	
more	 than	 50	 percent	 of	 the	 ownership	 interest	 with	 voting	
rights	 (or	 rights	 comparable	 to	 voting	 rights)	 of	 the	 other	
members;	AND
• The	 UBG	 has	 operations	 which	 result	 in	 a	 flow	 of	 value	
between	 the	 members	 in	 the	 UBG	 or	 has	 operations	 that	
are	 integrated	 with,	 are	 dependent	 upon,	 or	 contribute	 to	
each	 other.	 	 Flow	 of	 value	 is	 determined	 by	 reviewing	 the	
totality	 of	 facts	 and	 circumstances	 of	 business	 activities	 and	
operations.	
All	 financial	 institution	 members	 must	 file	 a	 combined	 return	
(addressed	 in	 the	 “UBGs	 and	 Combined	 Filing”	 section	 of	 this	
General	Information).	
NOTE:	 In	 general,	 a	 person	 that	 is	 a	 disregarded	 entity	 for	
federal	 tax	 purposes	 must	 file	 as	 if	 it	 were	 a	 branch	 or	 division	
if	owned	by	another	business	entity.

UBGs and Combined Filing
NOTE:	 UBGs	 are	 addressed	 here,	 in	 general.	 In	 the	
instructions	 for	 each	 form,	 “Special	 Instructions	 for	 Unitary	
Business	 Groups”	 are	 located	 directly	 before	 “Line-by-Line	
Instructions.”	The	areas	in	the	“Line-by-Line	Instructions”	that	
apply	 only	 to	 UBGs	 are	 labeled	 “UBGs.”	 Additional	 direction	
is	 found	 in	 the	 “Supplemental	 Instructions	 for	 Standard	
Members	in	UBGs”	section	of	this	instruction	booklet.
General Overview of Unitary Taxation
More	 than	 20	 states	 have	 adopted	 unitary	 taxation.	 Unitary	
taxation	 is	 a	 method	 of	 taxing	 related	 persons	 that,	 if	 it	
applies,	 generally	 treats	 those	 related	 persons	 as	 if	 they	 were	
one.	 There	 are	 specific	 tests,	 discussed	 below,	 to	 determine	
whether	 two	 or	 more	 business	 entities	 are	 sufficiently	
connected	 by	 ownership	 and	 business	 relationships	 to	 be	
treated	as	a	group.
If	 those	 tests	 are	 satisfied	 and	 a	 UBG	 is	 found	 to	 exist,	 in	 most	
cases	 the	 members	 of	 that	 UBG	 will	 file	 a	 single	 CIT	 return.	
One	 member	 will	 be	 designated	 as	 the	 group’s	 representative	
for	 filing	 the	 return	 and	 corresponding	 with	 Treasury.	 Included	
in	 that	 return	 will	 be	 separate	 forms	 that	 report	 income,	
deductions,	 and	 activities	 separately	 by	 member,	 and	 then	 the	

combined	 amounts	 are	 entered	 on	 the	 Form	 4891.	 References	
in	 the	 instructions	 to	 “the	 taxpayer”	 generally	 will	 refer	 to	 the	
group	rather	than	any	one	of	its	members.
This	 is	 a	 simplification	 for	 introductory	 purposes,	 and	 there	
are	 many	 details	 and	 exceptions	 described	 throughout	 the	 CIT	
forms	 and	 instructions.	 In	 particular,	 tax	 credits,	 transactions	
between	 members,	 and	 the	 presence	 of	 financial	 institutions	 or	
insurance	companies	in	the	group	require	careful	attention.
One	 key	 issue	 in	 dealing	 properly	 with	 unitary	 taxation	 is	 to	
recognize	 that	 it	 is	 not	 limited	 to	 large,	 multi-state	 companies.	
Businesses	 of	 any	 size	 and	 any	 geographic	 extent	 may	 find	 that	
they	are	members	of	a	UBG.
Determining the Existence and Membership of a UBG
Unitary	 Business	 Group	 means	 a	 group	 of	 United	 States	
persons	 that	 are	 corporations,	 insurance	 companies,	 or	
financial	 institutions,	 other	 than	 a	 foreign	 operating	 entity,	 that	
satisfies	the	control	test	and	relationship	test.
• Control test.	 One	 of	 the	 persons	 owns	 or	 controls,	 directly	
or	 indirectly,	 more	 than	 50	 percent	 of	 the	 ownership	 interest	
with	 voting	 rights	 (or	 rights	 comparable	 to	 voting	 rights)	 of	 the	
other	members;	AND
• Relationship test.	 The	 UBG	 has	 operations	 which	 result	
in	 a	 flow	 of	 value	 between	 the	 members	 in	 the	 UBG	 or	 has	
operations	 that	 are	 integrated	 with,	 are	 dependent	 upon,	 or	
contribute	 to	 each	 other.	 Flow	 of	 value	 is	 determined	 by	
reviewing	 the	 totality	 of	 facts	 and	 circumstances	 of	 business	
activities	and	operations.
Additional	 information	 can	 be	 found	 under	 the	 “Corporate	
Income	 Tax”	 page	 at	 www.michigan.gov/taxes	 (see	 Revenue	
Administrative	 Bulletin	 (RAB)	 2018-12,	 Unitary	 Business	
Group	Control	Test	And	Relationship	Tests).
United States person	 is	 defined	 in	 the	 Internal	 Revenue	 Code	
(IRC)	§	7701(a)(30).
A foreign operating entity	 means	 a	 United	 States	 corporation	
that	 would	 otherwise	 be	 a	 part	 of	 a	 UBG	 that	 is	 taxable	 in	
Michigan;	 has	 substantial	 operations	 outside	 the	 United	 States,	
the	 District	 of	 Columbia,	 any	 territory	 or	 possession	 of	 the	
United	 States	 except	 for	 the	 commonwealth	 of	 Puerto	 Rico,	 or	
a	 political	 subdivision	 of	 the	 foregoing;	 and	 at	 least	 80	 percent	
of	 its	 income	 is	 active	 foreign	 business	 income	 as	 defined	 in	
IRC	§	871(l)(1)(B)(ii).
An	 alternate,	 elective	 method	 for	 determining	 the	 existence	
and	membership	of	a	UBG	under	the	affiliated	group	election	is	
discussed	in	the	instructions	for	Form	4908.

Filing the Correct Form
A	different	primary	return	and	instruction	booklet	are	available	
for	 standard	 taxpayers	 (Form	 4891)	 and	 insurance	 companies	
(Form	4905).

Filing if Tax Year Is Less Than 12 Months
Tax	 year	 means	 the	 calendar	 year,	 or	 the	 fiscal	 year	 ending	
during	 the	 calendar	 year,	 upon	 the	 basis	 of	 which	 the	 tax	 base	 of	
a	 taxpayer	 is	 computed.	 If	 a	 return	 is	 made	 for	 a	 fractional	 part	
of	a	year,	tax	year	means	the	period	for	which	the	return	is	made.
A	 taxpayer	 that	 has	 a	 52-	 or	 53-week	 tax	 year	 beginning	 not	

3

more	 than	 seven	 days	 before	 December	 31	 of	 any	 year	 is	
considered	 to	 have	 a	 tax	 year	 beginning	 after	 December	 of	 that	
tax	year.	
Example 1:	 A	 taxpayer	 with	 a	 federal	 tax	 year	 beginning	 on	
Saturday,	December	26,	2022,	will	be	treated	as	follows:	
• 2022	tax	year	end	of	December	31,	2022.
• Due	date	of	April	30,	2023.
• 2023	tax	year	beginning	January	1,	2023.
Example 2:	 A	 taxpayer	 with	 a	 federal	 tax	 year	 ending	 on	
Sunday,	January	3,	2023,	will	be	treated	as	follows:
• 2022	tax	year	end	of	December	31,	2022.	
• Due	date	of	April	30,	2023.	
• 2023	tax	year	beginning	on	January	1,	2023.
Example 3:	 A	 52-	 or	 53-week	 year	 closing	 near	 the	 end	 of	
January	 is	 common	 in	 the	 retail	 industry.	 Such	 a	 taxpayer	 will	
be	treated	as	follows:	
• 2022-23	fiscal	year	end	will	be	January	31,	2023.	
• Due	date	will	be	May	31,	2023.	
• 2023-24	fiscal	year	will	begin	on	February	1,	2023.
Annualizing
If	 the	 prior	 filing	 period	 is	 less	 than	 12	 months,	 annualize	 the	
prior	year’s	tax	liability	to	determine	whether	estimates	may	be	
based	 on	 that	 liability.	 	 If	 the	 prior	 year’s	 annualized	 liability	
is	 $20,000	 or	 less,	 estimates	 may	 be	 based	 on	 the	 annualized	
amount	if	paid	in	four	equal,	timely,	installments.	
To	 annualize	 the	 prior	 year’s	 tax	 liability,	 multiply	 the	 prior	
year’s	 tax	 liability	 by	 12	 and	 divide	 the	 result	 by	 the	 number	
of	 months	 the	 business	 operated.	 Generally,	 a	 business	 is	
considered	 in	 business	 for	 one	 month	 if	 the	 business	 operated	
for	 more	 than	 half	 the	 days	 of	 the	 month.	 	 A	 business	 whose	
entire	 tax	 year	 is	 15	 days	 or	 less,	 however,	 is	 considered	 in	
business	for	one	month.
○ Example:	 A	 fiscal	 year	 taxpayer	 with	 a	 tax	 year	 ending	
in	 June	 files	 a	 six-month	 return	 ending	 June	 2014	
reporting	 a	 tax	 liability	 of	 $9,000.	 Estimates	 for	 the	 tax	
year	 ending	 June	 2015	 may	 be	 based	 on	 the	 annualized	
liability	 of	 $18,000.	 Estimates	 must	 be	 paid	 in	 four	
equal	installments	of	$4,500.

Due Dates of Annual Returns
Annual	 returns	 of	 calendar	 year	 taxpayers	 are	 due	 by	 April	 30,	
2023.	 For	 fiscal	 years	 ending	 in	 2023,	the	 2022-2023	fiscal	 year	
return	 will	 be	 due	 on	 the	 last	 day	 of	 the	 fourth	 month	 after	 the	
end	of	the	tax	year.	

Additional Filing Time
If	additional	time	is	needed	to	file	an	annual	tax	return,	request	
a	 Michigan	 extension	 by	 filing	 an	 Application for Extension of
Time to File Michigan Tax Returns	(Form	4).
Filing	 a	 federal	 extension	 request	 with	 the	 IRS	 does	 not	
automatically	 grant	 a	 CIT	 extension.	 The	 IRS	 does	 not	 notify	
state	governments	of	extensions.

4

Extension	 applications	 must	 be	 postmarked	 on	 or	 before	 the	
due	date	of	an	annual	return.
Although	Treasury	may	grant	extensions	for	filing	CIT	returns,	
it	 will	 not	 extend	 the	 time	 to	 pay.	 Extension	 applications	
received	without	proper	payment	will	not	be	processed.	Penalty	
and	interest	will	accrue	on	the	unpaid	tax	from	the	original	due	
date	of	the	return.
Properly	filed	and	paid	estimates	along	with	the	amount	included	
on	 the	 extension	 application	 will	 be	 accepted	 as	 payment	 on	 a	
tentative	return,	and	an	extension	may	be	granted.	It	is	important	
that	the	application	is	completed	correctly.
Once	 a	 properly	 prepared	 and	 timely	 filed	 application	 along	
with	 appropriate	 estimated	 tax	 payments	 is	 received,	 Treasury	
will	grant	an	extension	of	eight	months	to	file	the	tax	return.
Any	 estimated	 tax	 that	 may	 be	 due	 with	 the	 request	 should	
be	 paid	 in	 the	 same	 manner	 as	 estimated	 payments	 were	 paid	
during	the	year.
A	 written	 response	 will	 be	 sent	 to	 the	 legal	 address	 on	 file	
when	a	valid	extension	application	is	received.
If	 a	 CIT	 extension	 is	 filed	 on	 time	 but	 the	 total	 payments	
received	by	the	original	due	date	are	less	than	90	percent	of	the	
tax	liability,	a	10	percent	negligence	penalty	may	apply.
An	 extension	 of	 time	 to	 file	 will	 also	 extend	 the	 statute	 of	
limitations.	

Amending a Return
To	 amend	 a	 current	 or	 prior	 year	 annual	 return,	 complete	 the	
Michigan CIT Amended Return for Financial Institutions
(Form	 4909)	 that	 is	 applicable	 for	 that	 year,	 explaining	 the	
reason	 for	 the	 changes.	 Include	 all	 schedules	 filed	 with	 the	
original	 return,	 even	 if	 not	 amending	 that	 schedule.	 Do	 not	
include	a	copy	of	the	original	return	with	your	amended	return.
Current	 and	 past	 year	 forms	 are	 available	 on	 Treasury’s	 Web	
site	at	www.michigan.gov/treasuryforms.
To	 amend	 a	 return	 to	 claim	 a	 refund,	 file	 within	 four	 years	 of	
the	 due	 date	 of	 the	 original	 return	 (including	 valid	 extensions).	
Interest	 will	 be	 paid	 beginning	 45	 days	 after	 the	 claim	 is	 filed	
or	the	due	date,	whichever	is	later.
If	amending	a	return	to	report	a	deficiency,	penalty	and	interest	
may	apply	from	the	due	date	of	the	original	return.
If	 any	 changes	 are	 made	 to	 a	 federal	 income	 tax	 return	 that	
affect	 the	 CIT	 tax	 base,	 filing	 an	 amended	 return	 is	 required.	
To	 avoid	 penalty,	 file	 the	 amended	 return	 within	 120	 days	 after	
the	final	determination	by	the	IRS.

Computing Penalty and Interest
Annual	 and	 estimated	 returns	 filed	 late	 or	 without	 sufficient	
payment	 of	 the	 tax	 due	 are	 subject	 to	 a	 penalty	 of	 5	 percent	 of	
the	 tax	 due,	 for	 the	 first	 two	 months.	 Penalty	 increases	 by	 an	
additional	 5	 percent	 per	 month,	 or	 fraction	 thereof,	 after	 the	
second	month,	to	a	maximum	of	25	percent.	
Compute	 penalty	 and	 interest	 for	 underpaid	 estimates	 using	 the	
CIT Penalty and Interest Computation for Underpaid Estimated

Tax	 (Form	 4899).	 If	 a	 taxpayer	 prefers	 not	 to	 file	 this	 form,	
Treasury	will	compute	the	penalty	and	interest	and	send	a	bill.
The	 following	 chart	 shows	 the	 interest	 rate	 that	 applies	 to	 each	
filing	 period.	 A	 new	 interest	 rate	 is	 set	 at	 1	 percent	 above	 the	
adjusted	prime	rate	for	each	six-month	period.
Beginning Date

Rate

Daily Rate

January 1, 2023

5.65%

0.0001548

July 1, 2023

8.25%

0.0002260

January 1, 2024

9.30%

0.0002541

For	 a	 list	 of	 interest	 rates,	 click	 on	 “Reports	 and	 Legal”	 on	 the	
Treasury	 Web	 site	 at	 www.michigan.gov/treasury/.	 Interest	
rates	are	updated	in	Revenue	Administrative	Bulletins	(RABs).

Signing the Return
All	 returns	 must	 be	 signed	 and	 dated	 by	 the	 taxpayer	 or	 the	
taxpayer’s	 authorized	 agent.	 This	 may	 be	 the	 owner,	 corporate	
officer,	 or	 association	 member.	 The	 corporate	 officer	 may	 be	
the	president,	vice	president,	treasurer,	assistant	treasurer,	chief	
accounting	 officer,	 or	 any	 other	 corporate	 officer	 (such	 as	 tax	
officer)	authorized	to	sign	the	corporation’s	tax	return.
If	someone	other	than	the	above	prepared	the	return,	the	preparer	
must	give	his	or	her	business	address	and	telephone	number.
Print	 the	 name	 of	 the	 authorized	 signer	 and	 preparer	 in	 the	
appropriate	area	on	the	return.
Assemble	 the	 returns	 and	 attachments	 (in	 sequence	 order)	 and	
use	 a	 clip	 in	 the	 upper-left	 corner	 or	 rubber	 band	 the	 pages	
together.	 (Do	 not	 staple	 a	 check	 to	 the	 return.)	 In	 an	 e-filed	
return,	 the	 preparation	 software	 will	 assemble	 the	 forms	 and	
PDF	attachments	in	the	proper	order	automatically.

software.	The	taxpayer	PIN	will	be	selected	by	the	taxpayer,	or	
the	 taxpayer	 may	 authorize	 his	 or	 her	 tax	 preparer	 to	 select	 the	
taxpayer	PIN.
The	 MI-8879	 (Form	 4763)	 will	 be	 printed	 and	 contain	 the	
taxpayer	 PIN.	 The	 tax	 preparer	 will	 retain	 Form	 MI-8879	 in	
his	 or	 her	 records	 as	 part	 of	 the	 taxpayer’s	 printed	 return.	 CIT	
State	 Stand	 Alone	 e-filings	 submitted	 without	 a	 taxpayer	 PIN	
will	 be	 rejected	 by	 Treasury.	 Do	 not	 mail	 Form	 MI-8879	 to	
Treasury	 and	 do	 not	 include	 Form	 MI-8879	 as	 an	 attachment	
with	the	e-file	return.	

Mailing Addresses
Mail	the	annual	return	and	all	necessary	schedules	to:
With payment:
Michigan	Department	of	Treasury
PO	Box	30804
Lansing	MI	48909
Without payment:
Michigan	Department	of	Treasury
PO	Box	30803
Lansing	MI	48909
Mail an extension application (Form 4) to:
Michigan	Department	of	Treasury
PO	Box	30774
Lansing	MI	48909-8274
Mail CIT quarterly estimate payments (Form 4913) to:
Michigan	Department	of	Treasury
PO	Box	30774
Lansing	MI	48909-8274

IMPORTANT REMINDER:	 Failure	 to	 include	 all	 the	
required	 forms	 and	 attachments	 will	 delay	 processing	 and	 may	
result	in	reduced	or	denied	refund	or	credit	forward	or	a	bill	for	
tax	due.

Courier delivery service mail should be sent to:
Michigan	Department	of	Treasury
7285	Parsons	Dr.
Dimondale	MI	48821

SIGNING AN E-FILED RETURN:	 As	 with	 any	 tax	 return	
submitted	 to	 Treasury	 on	 paper,	 an	 electronic	 tax	 return	 must	
be	 signed	 by	 an	 authorized	 tax	 return	 signer,	 the	 Electronic	
Return	 Originator	 (ERO),	 if	 applicable,	 and	 the	 paid	 tax	
preparer,	 if	 applicable.	 NOTE:	 If	 the	 return	 meets	 one	 of	 the	
exceptions	 to	 the	 e-file	 mandate	 and	 is	 being	 filed	 on	 paper,	
it	 must	 be	 manually	 signed	 and	 dated	 by	 the	 taxpayer	 or	 the	
taxpayer’s	authorized	agent.

Make	 all	 checks	 payable	 to	 “State	 of	 Michigan.”	 Print	
taxpayer’s	 Federal	 Employer	 Identification	 Number	 (FEIN)	 or	
Michigan	 Treasury	 (TR)	 assigned	 number,	 the	 tax	 year,	 and	
“CIT”	 on	 the	 front	 of	 the	 check.	 Do	 not	 staple	 the	 check	 to	 the	
return.

The	CIT	Fed/State	e-file	signature	process	is	as	follows:
Fed/State Returns:	 Michigan	 will	 accept	 the	 federal	 signature	
method.	 Michigan	 does	 not	 require	 any	 additional	 signature	
documentation.	
State Stand Alone Returns:	 State	 Stand	 Alone	 returns	
(which	 are	 filed	 without	 a	 corresponding	 federal	 return)	 must	
be	 signed	 using	 Form	 MI-8879	 (also	 called	 the	 Michigan
e-file Authorization for Business Taxes MI-8879,	 Form	
4763).	 Returns	 are	 signed	 by	 entering	 the	 taxpayer	 PIN	 in	 the	
software	 after	 reading	 the	 perjury	 statement	 displayed	 in	 the	

Correspondence
An	 address	 change	 or	 business	 discontinuance	 can	 be	
reported	 online	 by	 using	 Michigan	 Treasury	 Online	 (MTO),	
Business	 Tax	 Services.	 See	 www.michigan.gov/mtobusiness
for	 information.	 In	 the	 alternative,	 Notice of Change or
Discontinuance	 (Form	 163),	 can	 be	 found	 online	 at	 www.
michigan.gov/treasuryforms.
Mail correspondence to:
Michigan	Department	of	Treasury
Business	Taxes	Division,	CIT	Unit
PO	Box	30059
Lansing	MI	48909

5

To Request Forms
Internet
Current	 and	 past	 year	 forms	 are	 available	 on	 Treasury’s	 Web	
site	at	www.michigan.gov/treasuryforms.
Alternate Format
Printed	 material	 in	 an	 alternate	 format	 may	 be	 obtained	 by	
calling	517-636-6925.
TTY
Assistance	 is	 available	 using	 TTY	 through	 the	 Michigan	 Relay	
Service	by	calling	711.

Revenue Administrative Bulletins (RABs)
Treasury	 provides	 updates	 via	 RABs	 on	 the	 Treasury	 Web	 site	
at	 www.michigan.gov/taxes.	 (Click	 on	 “Reports	 and	 Legal.”)	
RABs	for	the	CIT	are:
• 2013-9,	CIT	Definition	of	“Actively	Solicits”
• 2018-12,	 CIT	 Unitary	 Business	 Group	 Control	 Test	 and	
Relationship	Tests
• 2014-5,	Michigan	CIT	Nexus	Standards
• Interest
	
	 Rates:	 For	 a	 list	 of	 interest	 rates,	 go	 to	
www.michigan.gov/treasury/	 and	 click	 on	 “Reports	 and	
Legal.”

6

Michigan Department of Treasury
4908 (Rev. 03-23), Page 1 of 2

This form cannot be used
as an amended return;
use the CIT Amended Return
for Financial Institutions
(Form 4909).

2023 MICHIGAN Corporate Income Tax Annual
Return for Financial Institutions
(MM-DD-YYYY)

Issued under authority of Public Act 38 of 2011.

(MM-DD-YYYY)

1. Return is for calendar year 2023 or for tax year beginning:

and ending:

2a. Taxpayer Name or Designated Member (DM) if a UBG (print or type)

Federal Employer Identification Number (FEIN)

2b. Top-tiered parent entity filing the Federal Financial Institutions Examination Council (FFIEC) report

Top-tiered parent entity FEIN

2c. Street Address of Taxpayer or DM

7. Organization Type

City

State

3. Principal Business Activity

ZIP/Postal Code

Country Code

4. NAICS Code

5. Business Start Date in Michigan

Fiduciary

Apportionment Calculation:

S Corp/
LLC S Corp

8a. Affiliated Group Election year (MM-DD-YYYY) (see instructions)

6. If a Final Return, Enter Effective End Date
8b.

9.

C Corp/
LLC C Corp

Check if filing Michigan Unitary Business Group (UBG)
return. (Include Form 4910.)

a. Michigan Gross Business (if no Michigan Gross Business, enter zero) ..
b. Total Gross Business...................................................................
c. Apportionment Percentage. Divide line 9a by line 9b.................

00
00
%

9a.
9b.
9c.

PART 1: FRANCHISE TAX
10. Total Equity Capital. If less than zero, enter zero ............................................................................................

10.

00

11. Average daily book value of Michigan obligations. If less than zero, enter zero .............................................

11.

00

12. Average daily book value of U.S. obligations. If less than zero, enter zero.....................................................

12.

00

13. Subtotal. Add lines 11 and 12 ..........................................................................................................................

13.

00

14. (Net Capital) Subtract line 13 from line 10.......................................................................................................

14.

00

15. Authorized insurance company subsidiary: enter actual capital fund amount.................................................

15.

00

16. Minimum regulatory amount required..............................................................................................................

16.

00

17. Multiply line 16 by 125% (1.25) .......................................................................................................................

17.

00

18. Enter the lesser of line 15 or line 17 ................................................................................................................

18.

00

19. Tax Base (Net Capital for Current Taxable Year). Subtract line 18 from line 14 ..............................................

19.

00

20. Apportioned Tax Base. Multiply line 19 by percentage on line 9c ...................................................................

20.

00

21. Multiply line 20 by 0.29% (0.0029) ..................................................................................................................

21.

00

22. Tax Liability after CIT Historic Preservation Credit from Form 5793, line 11. If less than or equal to
$100, enter zero ..............................................................................................................................................

22.

00

23. Total Recapture of Certain Business Tax Credits from Form 4902..................................................................

23.

00

24. Total Tax Liability. Add lines 22 and 23 .........................................................................................................

24.

00

+

0000 2023 42 01 27 4

Continue and sign on Page 2.

2023 Form 4908, Page 2 of 2

Taxpayer FEIN

PART 2: PAYMENTS AND TAX DUE
25. Overpayment credited from prior return (MBT or CIT) ....................................................................................

25.

00

26. Estimated tax payments ..................................................................................................................................

26.

00

27. Tax paid with request for extension .................................................................................................................

27.

00

28.

Michigan tax withheld or Flow-Through Entity credit (see instructions)...........................................................

28.

00

29. Total Payments. Add lines 25 through 28 ........................................................................................................

29.

00

30. TAX DUE. Subtract line 29 from line 24. If less than zero, leave blank...........................................................

30.

00

31. Underpaid estimate penalty and interest from Form 4899, line 38..................................................................

31.

00

32. Annual Return Penalty (see instructions) ........................................................................................................

32.

00

33. Annual Return Interest (see instructions) ........................................................................................................

33.

00

34. PAYMENT DUE. If line 30 is blank, go to line 35. Otherwise, add lines 30 through 33...................................

34.

00

35. Overpayment. Subtract lines 24, 31, 32 and 33 from line 29. If less than zero, leave blank
(see instructions) .............................................................................................................................................

35.

00

36. CREDIT FORWARD. Amount on line 35 to be credited forward and used as an estimate for next tax year ..

36.

00

37. REFUND. Subtract line 36 from line 35...........................................................................................................

37.

00

PART 3: REFUND OR CREDIT FORWARD

Taxpayer Certification. I declare under penalty of perjury that the information in
this return and attachments is true and complete to the best of my knowledge.

Preparer Certification.

I declare under penalty of perjury that this
return is based on all information of which I have any knowledge.
Preparer’s PTIN, FEIN or SSN

By checking this box, I authorize Treasury to discuss my return with my preparer.
Authorized Signature for Tax Matters

Authorized Signer’s Name (print or type)
Title

Preparer’s Business Name (print or type)

Date

Preparer’s Business Address and Telephone Number (print or type)

Telephone Number

Return is due April 30 or on or before the last day of the 4th month after the close of the tax year.
WITHOUT PAYMENT - Mail return to:
Michigan Department of Treasury
PO Box 30803
Lansing MI 48909

+

0000 2023 42 02 27 2

WITH PAYMENT - Pay amount on line 34
and mail check and return to:
Michigan Department of Treasury
PO Box 30804
Lansing MI 48909

Make check payable to “State of Michigan.”
Print taxpayer’s FEIN, the tax year, and “CIT”
on the front of the check. Do not staple the
check to the return.

Instructions for Form 4908
Corporate Income Tax (CIT) Annual Return for Financial Institutions
Purpose
To	calculate	tax	liability	of	a	financial	institution	for	CIT.
Every	 financial	 institution	 with	 nexus	 with	 Michigan	 must	
file	 an	 annual	 return.		 See	 MCL	 206.653	 for	 nexus	 thresholds.	
However,	 a	 taxpayer	 whose	 tax	 liability	 is	 less	 than	 or	 equal	 to	
$100	does	not	need	to	file	a	return	or	pay	the	tax.

Effects of Public Act 460 of 2018
Effective	 with	 tax	 years	 beginning	 in	 2019,	 PA	 460	 of	 2018	
alters	 the	 definition	 of	 total	 equity	 capital	 for	 a	 financial	
institution.
Total equity capital	 is	 the	 amount	 reported	 by	 the	 financial	
institution,	 or	 in	 the	 case	 of	 a	 Unitary Business Group
(UBG) of	 financial	 institutions,	 the	 top-tiered	 parent	 entity,	 on	
certain	 regulatory	 forms	 designated	 by	 the	 Federal	 Financial	
Institutions	 Examination	 Council	 (FFIEC)	 and	 filed	 with	
the	 office	 of	 the	 comptroller	 of	 currency,	 the	 Federal	 Deposit	
Insurance	Corporation	(FDIC),	or	the	Federal	Reserve	System.
A	 financial	 institution	 will	 use	 the	 FFIEC	 regulatory	 report	 for	
the	period	ending	with	the	financial	institution’s	fiscal	year	end.	
Likewise,	 for	 a	 unitary	 business	 group	 of	 financial	 institutions,	
the	 taxpayer	 uses	 the	 FFIEC	 regulatory	 report	 for	 the	 period	
ending	 with	 the	 top-tiered-parent	 entity’s	 fiscal	 year	 end.	 If	 the	
financial	 institution	 or	 top-tiered	 parent	 entity	 does	 not	 submit	
a	 report	 for	 the	 period	 ending	 that	 coincides	 with	 its	 fiscal	 year	
end,	 the	 taxpayer	 should	 use	 the	 last	 FFIEC	 regulatory	 report	
issued	during	its	fiscal	year.
The	 Michigan	 Department	 of	 Treasury	 provides	 additional	
guidance	 on	 these	 changes	 in	 Revenue	 Administrative	 Bulletin	
(RAB)	 2019-22,	 available	 at	 michigan.gov/treasury.	 Select	
“Reports	 &	 Legal”	 from	 the	 navigation	 bar	 at	 the	 top	 of	 the	
page,	 then	 click	 on	 “Revenue	 Administrative	 Bulletins.”	 RABs	
are	posted	according	to	the	year	in	which	they	are	issued.

Instructions for Unitary Business Groups
All	 financial	 institution	 members	 of	 a	 UBG	 must	 file	 a	
combined	 Form	 4908	 for	 the	 group	 with	 a	 Designated	 Member	
(DM)	 that	 must	 be	 the	 controlling	 member	 of	 the	 group,	 unless	
the	 controlling	 member	 does	 not	 have	 nexus	 with	 Michigan.	 If	
that	 is	 the	 case,	 the	 controlling	 member	 may	 appoint	 a	 group	
member	with	nexus	to	serve	as	the	DM.
NOTE: The	 DM	 may	 be	 an	 entity	 other	 than	 the	 top-tiered	
parent	 entity	 if	 the	 top-tiered	 parent	 entity	 does	 not	 have	 nexus	
with	 Michigan.	 In	 that	 case,	 the	 top-tiered	 parent	 entity’s	 total	
equity	capital	and	tax	year	is	still	used	to	calculate	the	tax	base.
UBGs:	 Complete	 the	 CIT Unitary Business Group Combined
Filing Schedule for Financial Institutions	 (Form	 4910)	 before	
beginning	Form	4908.
For	 more	 information	 on	 UBGs,	 see	 the	 CIT Forms and
Instructions for Financial Institutions	(Form	4907),	available	at	
www.michigan.gov/treasuryforms.

NOTE: A	 UBG	 may	 include	 financial	 institutions,	 insurance	
companies,	 and	 standard	 taxpayers.	 A	 group	 containing	 a	
mixture	 of	 these	 three	 taxpayer	 types	 may	 be	 required	 to	 file	
two	 or	 more	 returns	 to	 properly	 report	 the	 activities	 of	 the	
different	taxpayer	types	within	the	group.
Financial institution	means	any	of	the	following:
i.	 A	 bank	 holding	 company,	 a	 national	 bank,	 a	 state	 chartered	
bank,	 a	 state	 chartered	 savings	 bank,	 a	 federally	 chartered	
savings	 association,	 or	 a	 federally	 chartered	 farm	 credit	
system	institution.
ii.	 Any	 entity,	 other	 than	 an	 entity	 subject	 to	 the	 tax	 imposed	
under	 Chapter	 12	 (insurance	 company),	 that	 is	 directly	
or	 indirectly	 owned	 by	 an	 entity	 described	 in	 (i)	 and	 is	 a	
member	of	the	UBG.
iii.	 A	UBG	of	entities	described	in	(i)	or	(ii),	or	both.
NOTE:	 Because	 the	 definition	 of	 financial	 institution	 for	 CIT	
purposes	 includes	 any	 entity	 (except	 an	 insurance	 company)	
that	 is	 owned	 by	 a	 bank	 or	 other	 entity	 (as	 described	 above)	
and	 is	 a	 member	 of	 a	 UBG	 with	 its	 owner,	 this	 may	 cause	 an	
entity	 that	 is	 not	 commonly	 thought	 of	 as	 a	 financial	 institution	
to	 be	 treated	 as	 one	 for	 return	 filing	 purposes.	 A	 UBG	 of	
financial	 institutions	 must	 file	 a	 combined	 return	 on	 Form	
4908	 that	 includes	 each	 member	 of	 the	 group	 that	 is	 a	 financial	
institution.
Taxpayer Certification
A	 return	 filed	 by	 a	 UBG	 must	 be	 signed	 by	 an	 individual	
authorized	 to	 sign	 on	 behalf	 of	 the	 DM.	 Provide	 the	 telephone	
number	of	that	individual	at	the	DM’s	office.

The Affiliated Group Election
The	 affiliated	 group	 election	 allows	 a	 group	 of	 persons	 that	
satisfy	 the	 definition	 of	 “affiliated	 group,”	 (see	 below)	 to	 elect	 to	
be	 treated	 as	 a	 UBG	 under	 the	 CIT	 even	 if	 those	 persons	 do	 not	
satisfy	 the	 relationship	 test	 of	 MCL	 206.611(6).	 The	 relationship	
test	 is	 discussed	 in	 the	 “UBGs	 and	 Combined	 Filing”	 section	 of	
Form	4907,	and	online	at	www.michigan.gov/taxes.
The	term	affiliated group	means	that	term	as	defined	in	section	
1504	 of	 the	 IRC	 except that 1)	 the	 term	 includes	 all	 United	
States	 persons	 that	 are	 corporations,	 insurance	 companies,	
or	 financial	 institutions,	 other	 than	 a	 foreign	 operating	 entity,	
and	 2)	 the	 entities	 listed	 in	 (1)	 are	 commonly	 owned,	 directly	
or	 indirectly,	 by	 any	 member	 of	 such	 affiliated	 group	 and	 other	
members	 of	 which	 more	 than	 50	 percent	 of	 the	 ownership	
interests	 with	 voting	 rights	 or	 ownership	 interests	 that	 confer	
comparable	 rights	 to	 voting	 rights	 of	 the	 member	 is	 directly	 or	
indirectly	owned	by	a	common	owner	or	owners.
A	taxpayer	makes	the	election	by	affirmatively	indicating	so	on	
the	 annual	 return	 (see	 line	 8a).	 The	 affiliated	 group	 members	
are	 treated	 as	 members	 of	 a	 UBG	 for	 all	 purposes.	 Once an
election is made, it is irrevocable and binding for the tax
year plus the next 9 tax years.	 See	 MCL	 206.691(2)	 for	 more	
information.

9

Line-by-Line Instructions
Lines not listed are explained on the form.
Dates	must	be	entered	in	MM-DD-YYYY	format.
For periods less than 12 months,	 see	 “General	 Information	
for	 Financial	 Institutions”	 in	 the	 Michigan	 CIT	 for	 Financial	
Institutions	booklet,	Form	4907.
Amended Returns: To	 amend	 a	 current	 or	 prior	 year	 return,	
complete	 the	 CIT Amended Return for Financial Institutions
(Form	4909)	that	is	applicable	for	that	year,	and	attach	a	separate	
sheet	 explaining	 the	 reason	 for	 the	 changes.	 Include	 a	 copy	
of	 an	 amended	 federal	 return	 or	 a	 signed	 and	 dated	 copy	 of	
the	 Internal	 Revenue	 Service	 (IRS)	 audit	 report,	 if	 applicable.	
Submit	 a	 complete	 amended	 return	 including	 all	 necessary	
attachments.	Do not include a copy of the original return with
your amended return. Find	detailed	instructions	on	Form	4909.
Line 1:	 Unless	a	calendar	year,	enter	the	beginning	and	ending	
dates	 (MM-DD-YYYY)	 that	 correspond	 to	 the	 taxable	 period	
as	reported	to	the	IRS.
Tax year	 means	 the	 calendar	 year,	 or	 the	 fiscal	 year	 ending	
during	 the	 calendar	 year,	 upon	 the	 basis	 of	 which	 the	 tax	 base	
of	 a	 taxpayer	 is	 computed.	 If	 a	 return	 is	 made	 for	 a	 fractional	
part	 of	 a	 year,	 tax	 year	 means	 the	 period	 for	 which	 the	 return	
covers.	 Generally,	 a	 taxpayer’s	 tax	 year	 is	 for	 the	 same	 period	
as	is	covered	by	its	federal	income	tax	return.	
Line 2a:	 Enter	 the	 taxpayer’s	 name	 and	 Federal	 Employer	
Identification	 Number	 (FEIN)	 in	 the	 appropriate	 fields.	 Be	 sure	
to	use	the	same	account	number	on	all	forms.	The	taxpayer	FEIN	
from	 page	 1	 must	 be	 entered	 in	 the	 Taxpayer	 FEIN	 field	 on	 page	
2.
For	 CIT,	 taxpayer	 means	 a	 corporation,	 insurance	 company,	
financial	 institution,	 or	 a	 UBG	 liable	 for	 tax,	 interest,	 or	
penalty.

UBGs:	 In	 the	 Taxpayer	 Name	 field,	 enter	 the	 name	 of	 the	 DM	
for	 the	 financial	 institutions.	 Enter	 the	 FEIN	 of	 the	 DM	 of	 the	
financial	group.
Line 2b: For use by UBGs only:	 Enter	 the	 name	 of	 the	 toptiered	 parenty	 entity	 filing	 the	 FFIEC	 report,	 and	 that	 entity’s	
FEIN.	This	may	be	different	from	the	entity	named	in	line	2a	if	
the	top-tiered	entity	does	not	have	nexus	with	Michigan.
Line 2c:	 Enter	 the	 street	 address	 of	 the	 taxpayer	 or,	 in	 the	 case	
of	a	UBG,	the	DM.
FOREIGN FILERS:	Complete	the	address	fields	as	follows:
Address:	Enter	the	postal	address	for	this	taxpayer.
City:	 Enter	 the	 city	 name	 for	 this	 taxpayer.	 DO	 NOT	
include	the	country	name	in	this	field.
State:	Enter	the	two-letter	state	or	province	abbreviation.	
If	there	is	no	applicable	two-letter	abbreviation,	leave	this	
field	blank.
ZIP/Postal Code:	Enter	the	ZIP	Code	or	Postal	Code.
Country Code:	 Enter	 the	 two-letter	 country	 code	
provided	in	this	tax	booklet.
Line 3:	 Enter	 a	 brief	 description	 of	 the	 principal	 types	 of	
financial	services	in	which	the	taxpayer	is	engaged.
Line 4:	 Enter	 the	 entity’s	 six-digit	 North	 American	 Industry	
Classification	 System	 (NAICS)	 code	 from	 the	 most	 recent	 list	
of	 codes.	 For	 a	 complete	 list	 of	 six-digit	 NAICS	 codes,	 see	
the	 U.S.	 Census	 Bureau	 website	 at	 www.census.gov/naics/,	
or	 enter	 the	 same	 NAICS	 code	 used	 when	 filing	 the	 entity’s	
federal	Form	1120,	Schedule	K.
UBGs:	Enter	the	NAICS	for	the	principal	activity	of	the	group.	
If	 no	 principal	 activity	 is	 available,	 enter	 the	 NAICS	 code	 used	
when	 filing	 the	 DM’s	 federal	 Form	 1120,	 Schedule	 K;	 federal	
Form	1120S;	or	federal	Form	1065.

NOTE:	 Unless	 already	 registered,	 taxpayers	 must	 register	
with	 the	 Michigan	 Department	 of	 Treasury	 before	 filing	 a	
tax	 return.	 Taxpayers	 are	 encouraged	 to	 register	 online	 at	
www.michigan.gov/businesstaxes.	 Taxpayers	 that	 register	
with	 Treasury	 online	 receive	 their	 registration	 confirmation	
within	seven	days.

Line 6:	 Enter	 the	 date,	 if	 applicable,	 on	 which	 the	 taxpayer	
went	out	of	business.

If	 the	 taxpayer	 does	 not	 have	 an	 FEIN,	 the	 taxpayer	
must	 obtain	 an	 FEIN	 before	 filing	 the	 CIT.	 Visit	
www.michigan.gov/businesstaxes
for	 information	 on	
obtaining	an	FEIN.

NOTE:		 For	 CIT	 purposes,	 a	 disregarded	 entity	 is	 treated	 as	 a	
part	of	its	owner.

Returns received without a registered account number will
not be processed until such time as a number is provided.
Enter	 the	 two-digit	 abbreviation	 for	 the	 country	 code.	 See	 the	
list	of	country	codes	in	Form	4907.
Any	 refund	 or	 correspondence	 from	 this	 return	 will	 be	 sent	 to	
the	 address	 used	 on	 this	 form.	 The	 taxpayer’s	 primary	 address	
in	Treasury	files,	identified	as	the	legal	address	and	used	for	all	
purposes	 other	 than	 refund	 and	 correspondence	 on	 a	 specific	
CIT	return,	will	not	change	unless	the	taxpayer	files	a	Notice of
Change or Discontinuance	(Form	163).

10

Line 5: Enter	the	start	date	of	first	business	activity	in	Michigan.

Line 7:	 Check	 the	 box	 that	 describes	 the	 DM’s	 organization	
type.	 A	 Trust	 or	 a	 Limited	 Liability	 Company	 (LLC)	 should	
check	the	appropriate	box	based	on	its	federal	return.

Line 8a:	 Enter	 the	 end	 date	 (MM-DD-YYYY)	 of the tax year
in which the affiliated group election was first made.	 The	
election	lasts	10	years	and	is	irrevocable.
Calendar	year	filers	that	made	this	election	beginning	2013,	and	
fiscal	 filers	 that	 made	 this	 election	 beginning	 with	 the	 201314	 fiscal	 year,	 completed	 the	 Michigan Corporate Income Tax
Affiliated Group Election to File as a Unitary Business Group
(Form	5114)	to	make	the	election.	Enter	the	end	date	(MM-DDYYYY)	of	the	tax	year	for	which	Form	5114	was	filed.
Taxpayers	 that	 first	 made	 this	 election	 beginning	 calendar	
year	 2014	 or	 later	 do not use Form 5114,	 which	 is	 now	
discontinued.	 Instead,	 make	 the	 election	 on	 this	 line	 of	 the	

return	filed	for	the	first	year	of	the	election,	by	entering	the	end	
date	of	that	filing	period	in	an	MM-DD-YYYY	format.
Line 8b:	 Check	 this	 box	 if	 filing	 a	 Michigan	 UBG	 return	 and	
include	Form	4910.	
Lines 9a through 9c:	 A	 taxpayer	 may	 apportion	 on	 lines	
9a	 through	 9c	 only	 if	 its	 business	 activities	 are	 subject	 to	 tax	
both	 within	 and	 outside	 of	 Michigan.	 A	 financial	 institution	 is	
subject to tax in another state,	as	that	term	is	used	here,	only	if:
• It	is	subject	to	a	Business	Privilege	Tax,	a	Net	Income	Tax,	a	
Franchise	Tax	measured	by	net	income,	a	Franchise	Tax	for	the	
privilege	 of	 doing	 business,	 or	 a	 corporate	 stock	 tax	 or	 a	 tax	 of	
the	 type	 imposed	 under	 the	 Income	 Tax	 Act	 in	 that	 other	 state;	
OR
• That	 other	 state	 has	 jurisdiction	 to	 subject	 the	 financial	
institution	 to	 one	 or	 more	 of	 the	 taxes	 listed	 above	 regardless	
of	 whether	 that	 state	 does	 or	 does	 not	 subject	 the	 financial	
institution	to	such	a	tax.
Gross Business	 means	 the	 sum	 of	 the	 following	 less	 transactions	
between	those	entities	included	in	a	UBG:
i.	 Fees,	 commissions,	 or	 other	 compensation	 for	 financial	
services.
ii.	 Net	 gains,	 not	 less	 than	 zero,	 from	 the	 sale	 of	 loans	 and	
other	intangibles.
	 	 gains,	 not	 less	 than	 zero,	 from	 trading	 in	 stocks,	 bonds,	
iii.Net
or	other	securities.
iv.	Interest	 charged	 to	 customers	 for	 carrying	 debit	 balances	 of	
margin	accounts.
v.	 Interest	and	dividends	received.
vi.	Any	 other	 gross	 proceeds	 resulting	 from	 the	 operation	 as	 a	
financial	institution.
Gross	Business	is	in	Michigan	to	the	extent:
• Receipts	 from	 credit	 card	 receivables	 including	 interest	 and	
fees	 or	 penalties	 in	 the	 nature	 of	 interest	 from	 credit	 card	
receivables	 and	 receipts	 from	 fees	 charged	 to	 credit	 card	
holders	 such	 as	 annual	 fees	 are	 in	 Michigan	 if	 the	 billing	
address	of	the	credit	card	holder	is	located	in	Michigan.
• Credit	 card	 issuer’s	 reimbursement	 fees	 are	 in	 Michigan	
if	 the	 billing	 address	 of	 the	 credit	 card	 holder	 is	 located	 in	
Michigan.
• Receipts	 from	 merchant	 discounts	 are	 in	 Michigan	 if	 the	
commercial	domicile	of	the	merchant	is	in	Michigan.
• Loan	 servicing	 fees	 are	 in	 Michigan	 under	 any	 of	 the	
following	circumstances:
○ For	 a	 loan	 secured	 by	 real	 property,	 if	 the	 real	 property	
for	which	the	loan	is	secured	is	in	Michigan.
○ For	 a	 loan	 secured	 by	 real	 property,	 if	 the	 real	 property	
for	 which	 the	 loan	 is	 secured	 is	 located	 both	 in	 Michigan	
and	in	one	or	more	other	states	and	more	than	50	percent	
of	 the	 fair	 market	 value	 of	 the	 real	 property	 is	 located	 in	
Michigan.
○ For	 a	 loan	 secured	 by	 real	 property,	 if	 more	 than	 50	
percent	 of	 the	 fair	 market	 value	 of	 the	 real	 property	 for	
which	 the	 loan	 is	 secured	 is	 not	 located	 within	 any	 one	

state	but	the	borrower	is	located	in	Michigan.
○ For	 a	 loan	 not	 secured	 by	 real	 property,	 the	 borrower	 is	
located	in	Michigan.
• Receipts	 from	 services	 are	 in	 Michigan	 if	 the	 recipient	 of	 the	
services	receives	all	of	the	benefit	of	the	services	in	Michigan.	If	
the	 recipient	 of	 the	 services	 receives	 some	 of	 the	 benefit	 of	 the	
services	 in	 Michigan,	 the	 receipts	 are	 included	 in	 the	 numerator	
of	 the	 apportionment	 factor	 in	 proportion	 to	 the	 extent	 that	 the	
recipient	receives	benefit	of	the	services	in	Michigan.
• Receipts	 from	 investment	 assets	 and	 activities	 and	 trading	
assets	 and	 activities,	 including	 interest	 and	 dividends,	 are	 in	
Michigan	 if	 the	 financial	 institution’s	 customer	 is	 in	 Michigan.	
If	 the	 location	 of	 the	 financial	 institution’s	 customer	 cannot	 be	
determined,	both	of	the	following	apply:
○ Interest,	 dividends,	 and	 other	 income	 from	 investment	
assets	 and	 activities	 and	 from	 trading	 assets	 and	
activities,	 including,	 but	 not	 limited	 to,	 investment	
securities;	 trading	 account	 assets;	 federal	 funds;	
securities	 purchased	 and	 sold	 under	 agreements	
to	 resell	 or	 repurchase;	 options;	 futures	 contracts;	
forward	 contracts;	 notional	 principal	 contracts	 such	
as	 swaps;	 equities;	 and	 foreign	 currency	 transactions	
are	 in	 Michigan	 if	 the	 average	 value	 of	 the	 assets	 is	
assigned	 to	 a	 regular	 place	 of	 business	 of	 the	 taxpayer	
in	 Michigan.	 Interest	 from	 federal	 funds	 sold	 and	
purchased	 and	 from	 securities	 purchased	 under	 resale	
agreements	 and	 securities	 sold	 under	 repurchase	
agreements	 are	 in	 Michigan	 if	 the	 average	 value	 of	
the	 assets	 is	 assigned	 to	 a	 regular	 place	 of	 business	 of	
the	 taxpayer	 in	 Michigan.	 The	 amount	 of	 receipts	 and	
other	 income	 from	 investment	 assets	 and	 activities	 is	
in	 Michigan	 if	 assets	 are	 assigned	 to	 a	 regular	 place	 of	
business	of	the	taxpayer	in	Michigan.
○ The	 amount	 of	 receipts	 from	 trading	 assets	 and	
activities,	 including,	 but	 not	 limited	 to,	 assets	 and	
activities	 in	 the	 matched	 book,	 in	 the	 arbitrage	 book,	
and	 foreign	 currency	 transactions,	 but	 excluding	
amounts	 otherwise	 sourced	 in	 this	 section,	 are	 in	
Michigan	 if	 the	 assets	 are	 assigned	 to	 a	 regular	 place	 of	
business	of	the	taxpayer	in	Michigan.
• Interest	 charged	 to	 customers	 for	 carrying	 debit	 balances	
on	 margin	 accounts	 without	 deduction	 of	 any	 costs	 incurred	
in	 carrying	 the	 accounts	 is	 in	 Michigan	 if	 the	 customer	 is	
located	in	Michigan.
• Interest	 from	 loans	 secured	 by	 real	 property	 is	 in	 Michigan	
if	 the	 property	 is	 located	 in	 Michigan,	 if	 the	 property	 is	
located	 both	 within	 Michigan	 and	 one	 or	 more	 other	 states	
and	more	than	50	percent	of	the	fair	market	value	of	the	real	
property	is	located	in	Michigan,	and	if	more	than	50	percent	
of	 the	 fair	 market	 value	 of	 the	 real	 property	 is	 not	 located	
within	any	one	state	but	the	borrower	is	located	in	Michigan.
• Interest	 from	 loans	 not	 secured	 by	 real	 property	 is	 in	
Michigan	if	the	borrower	is	located	in	Michigan.
• Net	 gains	 from	 the	 sale	 of	 loans	 secured	 by	 real	 property	
or	 mortgage	 service	 rights	 relating	 to	 real	 property	 are	 in	
Michigan	 if	 the	 property	 is	 in	 Michigan,	 if	 the	 property	 is	
located	 both	 within	 Michigan	 and	 one	 or	 more	 other	 states	
and	more	 than	 50	percent	 of	the	fair	market	value	of	the	real	

11

•

property	 is	 located	 in	 Michigan,	 or	 if	 more	 than	 50	 percent	
of	 the	 fair	 market	 value	 of	 the	 real	 property	 is	 not	 located	 in	
any	one	state,	but	the	borrower	is	located	in	Michigan.
Net	gains	from	the	sale	of	loans	not	secured	by	real	property	
or	 any	 other	 intangible	 assets	 are	 in	 Michigan	 if	 the	
depositor	or	borrower	is	located	in	Michigan.
Receipts	 from	 the	 lease	 of	 real	 property	 are	 in	 Michigan	 if	
the	property	is	located	in	Michigan.
Receipts	 from	 the	 lease	 of	 tangible	 personal	 property	 are	 in	
Michigan	 if	 the	 property	 is	 located	 in	 Michigan	 when	 it	 is	
first	placed	in	service	by	the	lessee.
Receipts	 from	 the	 lease	 of	 transportation	 tangible	 personal	
property	are	in	Michigan	if	the	property	is	used	in	Michigan	
or	 if	 the	 extent	 of	 use	 of	 the	 property	 in	 Michigan	 cannot	
be	 determined	 but	 the	 property	 has	 its	 principal	 base	 of	
operations	in	Michigan.

•
•
•

UBGs:	Carry	amount	from	Form	4910,	Part	2A,	line	2C,	to	line	
9a,	and	the	amount	from	Form	4910,	line	3C,	to	line	9b.
PART 1: FRANCHISE TAX
Line 10: Total equity capital	 is	 defined	 as	 the	 amount	 reported	
by	 the	 financial	 institution	 or,	 in	 the	 case	 of	 a	 unitary	 business	
group	 of	 financial	 institutions,	 the	 top-tiered	 parent	 entity,	 on	
certain	 regulatory	 forms	 designated	 by	 the	 FFIEC	 and	 filed	
with	 the	 office	 of	 the	 comptroller	 of	 currency,	 the	 FDIC,	 or	 the	
Federal	Reserve	System.	The	appropriate	regulatory	form	from	
which	 total	 equity	 capital	 is	 reported	 depends	 on	 the	 size	 and	
nature	 of	 the	 reporting	 entity.		 The	 forms	 currently	 designated	
by	the	FFIEC	and	required	by	the	CIT	are:		
• The	 consolidated	 financial	 statement	 for	 holding	 companies,	
FR	Y-9C.
• The	 parent	 company	 only	 financial	 statements	 for	 small	
holding	companies,	FR	Y-9SP.
• To	 the	 extent	 that	 FR	 Y-9C	 or	 FR	 Y-9SP	 are	 not	 filed	 for	 the	
tax	 year,	 the	 consolidated	 reports	 of	 condition	 and	 income,	 call	
reports,	FFIEC	031,	041,	or	051.
If	 any	 of	 these	 reports	 is	 no	 longer	 designated	 by	 FFIEC	 for	
filing,	 a	 financial	 institution	 will	 report	 that	 amount	 of	 total	
equity	 capital	 reported	 on	 a	 successor	 form	 or	 a	 report	 similar	
in	content	and	designated	by	the	FFIEC.
Line 11: Michigan obligations	 means	 a	 bond,	 note,	 or	 other	
obligation	issued	by	a	governmental	unit	described	in	Section	3	
of	 the	 Shared	 Credit	 Rating	 Act,	 Public	 Act	 227	 of	 1985,	 MCL	
141.1053.
UBGs:	Enter	the	sum	of	Form	4910,	line	14	for	all	members.
Line 12: United States obligations	 means	 all	 obligations	 of	
the	 United	 States	 exempt	 from	 taxation	 under	 31	 USC	 3124(a)	
or	 exempt	 under	 the	 United	 States	 constitution	 or	 any	 federal	
statute,	 including	 the	 obligations	 of	 any	 instrumentality	 or	
agency	 of	 the	 United	 States	 that	 are	 exempt	 from	 state	 or	 local	
taxation	 under	 the	 United	 States	 Constitution	 or	 any	 statute	 of	
the	United	States.
UBGs:	Enter	the	sum	of	Form	4910,	line	15	for	all	members.
Line 15:	 Enter	 the	 equity	 capital	 included	 in	 the	 financial	
institution	 equity	 capital	 (and	 included	 in	 line	 10)	 of	 an	

12

insurance	 company	 owned	 by	 the	 taxpayer,	 to	 the	 extent	 that	
the	 equity	 capital	 (the	 financial	 institution’s	 investment)	 is	
included	 in	 line	 10.	 	 Consider	 only	 insurance	 companies	 as	
defined	 in	 MCL	 206.607	 and	 subject	 to	 the	 Michigan’s	 CIT	
premiums	 tax,	 which	 does	 not	 include	 captive	 insurance	
companies.	 	 For	 purposes	 of	 this	 deduction,	 equity	 capital	 is	
calculated	 in	 accordance	 with	 generally	 accepted	 accounting	
principles.
UBGs:	Enter	the	sum	of	Form	4910,	line	16,	for	all	members.
Line 16:	 Enter	 the	 minimum	 regulatory	 capitalization	
requirements	 of	 the	 insurance	 company,	 which	 are	 fixed	
statutory	 minimums	 set	 forth	 in	 Michigan’s	 Insurance	 Code	 of	
1956.
UBGs:	Enter	the	sum	of	Form	4910,	line	17	for	all	members.
Line 18:	Enter	the	lesser	of	line	15a	or	line	15c.
UBGs:	Enter	the	sum	of	Form	4910,	line	19	for	all	members.
Line 22:	 If	 not	 claiming	 the	 CIT	 Historical	 Preservation	 Tax	
Credit,	carry	the	amount	from	line	21	to	line	22.
PART 2: PAYMENTS AND TAX DUE
Line 25:	 Enter	 overpayment	 credited	 from	 prior	 MBT	 or	 CIT	
return.
UBGs:	Enter	the	sum	of	Form	4910,	line	22	for	all	members.
Line 26:	 Enter	 the	 total	 estimated	 CIT	 tax	 paid	 with	 the	 CIT
Quarterly Tax Return	 (Form	 4913)	 or	 the	 amount	 of	 estimated	
CIT	 tax	 paid	 through	 Electronic	 Funds	 Transfer.	 Include	 all	
payments	 made	 on	 returns	 that	 apply	 to	 the	 tax	 year	 included	 in	
this	return.
UBGs:	Enter	the	sum	of	Form	4910,	line	23	for	all	members.
Line 27:	 Enter	 tax	 paid	 with	 the	 Application for Extension of
Time to File Michigan Tax Returns	(Form	4).
UBGs:	Enter	the	sum	of	Form	4910,	line	24	for	all	members.
Line 28:	 Enter	 Michigan	 Tax	 withheld	 for	 deferred	
compensation	 plans,	 life	 insurance	 and/or	 lottery	 annuities	
issued	 to	 a	 business	 account	 number	 through	 MCL	 206.703(1).	
Taxpayers	 can	 enter	 the	 Michigan	 Tax	 withheld	 reported	 on	 the	
W-2G	and/or	1099R.
Also	 report	 any	 credit	 for	 the	 taxpayer’s	 allocated	 share	 of	
Michigan	 flow-through	 entity	 (FTE)	 tax	 levied	 on	 and	 paid	 by	
an	 electing	 flow-through	 entity.	 Such	 an	 electing	 flow-through	
entity	 should	 be	 indirectly	 owned	 by	 this	 taxpayer.	 Include	 a	
copy	 of	 the	 Schedule	 K-1	 with	 the	 Schedule	 K-1	 notes,	 or	 other	
supporting	 documentation	 received	 from	 the	 electing	 flowthrough	entity,	to	support	the	credit	claimed	on	this	line.
UBGs:	Enter	the	sum	of	Form	4910,	line	25	for	all	members.
Line 31: If	 penalty	 and	 interest	 are	 owed	 for	 failure	 to	 make	
sufficient	 and	 timely	 estimated	 payments,	 complete	 the	 CIT
Penalty and Interest Computation for Underpaid Estimated
Tax	 (Form	 4899)	 to	 compute	 penalty	 and	 interest	 due.	 If	 a	
taxpayer	 chooses	 not	 to	 file	 this	 form,	 Treasury	 will	 compute	
penalty	 and	 interest	 and	 bill	 for	 payment.	 (Form	 4899	 is	
available	at www.michigan.gov/taxes.)
Line 32:	 Refer	 to	 the	 “Computing	 Penalty	 and	 Interest”	

section	 in	 Form	 4907	 to	 determine	 the	 annual	 return	 penalty	
rate	and	use	the	following	Overdue	Tax	Penalty	worksheet.
WORKSHEET – OVERDUE TAX PENALTY
A. Tax	due	from	Form	4908,	line	30	........
B. Late/extension	or	insufficient	
payment	penalty	percentage	................
C. Multiply	line	A	by	line	B.....................
	

00
%
00

FR	Y-9C.
• The	 parent	 company	 only	 financial	 statements	 for	 small	
holding	companies,	FR	Y-9SP.
• To	 the	 extent	 that	 FR	 Y-9C	 or	 FR	 Y-9SP	 are	 not	 filed	 for	 the	
tax	 year,	 the	 consolidated	 reports	 of	 condition	 and	 income,	
call	reports,	FFIEC	031,	041,	or	051.
• A	report	similar	in	content	and	designated	by	the	FFIEC.

Carry	amount	from	line	C	to	Form	4908,	line	32.
Line 34: Use	 the	 following	 worksheet	 to	 calculate	 Overdue	 Tax	
Interest.

A.
B.
C.
D.
E.

WORKSHEET – OVERDUE TAX INTEREST
Tax	due	from	Form	4908,	line	30	........
Applicable	daily	interest	percentage		....
Number	of	days	return	was	past	due	...
Multiply	line	B	by	line	C		....................
Multiply	line	A	by	line	D		....................

00
%
00

Carry	amount	from	line	E	to	Form	4908,	line	33.
NOTE:	 If	 the	 late	 period	 spans	 more	 than	 one	 interest	 rate	
period,	 divide	 the	 late	 period	 into	 the	 number	 of	 days	 in	 each	
of	the	interest	rate	periods	identified	in	the	“Computing	Penalty	
and	 Interest”	 section	 in	 Form	 4907,	 and	 apply	 the	 calculations	
in	 the	 Overdue	 Tax	 Interest	 worksheet	 separately	 to	 each	
portion	of	the	late	period.
Combine	 these	 interest	 subtotal