Form C-8000itc - Michigan Sbt Investment Tax Credit - 2006 Page 2
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1
2C-8000ITC, Page 2
FEIN or TR Number
PART 2: RECAPTURE OF CAPITAL INVESTMENTS
12.
Enter all depreciable tangible assets located in Michigan that were acquired or moved into Michigan after acquisition in a tax year beginning after
December 31, 1999 and were sold or otherwise disposed of during the tax year.
a. Description
b. Location
c. Date Acquired
d. Date Sold
e. Gross Sales Price
f. Gain or (Loss)
13.
Total columns 12e and 12f. A loss on 13f will increase recapture
13.
.00
14.
Adjusted Proceeds. If line 13f is a gain, subtract it from 13e. If line 13f is a loss, add it to 13e
14.
If taxable in another state, complete lines 15 and 16; otherwise, go to line 17.
.00
15.
Apportioned gains or (losses). Multiply line 13f by the percentage from C-8000H, line 16 or line 19, whichever applies
15.
.00
16.
Apportioned Adjusted Proceeds. If line 15 is a gain, subtract it from 13e. If line 15 is a loss, add it to 13e
16.
17.
Enter all depreciable mobile tangible assets that were acquired in a tax year beginning after December 31, 1999 and were sold or
otherwise disposed of during the tax year.
a. Description
b. Location
c. Date Acquired
d. Date Sold
e. Gross Sales Price
f. Gain or (Loss)
18.
Total columns 17e and 17f. A loss on 18f will increase recapture
18.
.00
19.
Adjusted Proceeds. If line 18f is a gain, subtract it from 18e. If line 18f is a loss, add it to 18e
19.
If taxable in another state, complete line 20; otherwise, go to line 21.
.00
20.
Apportioned Adjusted Proceeds. Multiply line 19 by the percentage from C-8000H, line 16 or 19
20.
21.
Enter all depreciable tangible assets other than mobile property acquired in tax years beginning after December 31, 1996 that were eligible for the
Investment Tax Credit in tax years beginning after December 31, 1999 and were transferred outside Michigan during the tax year.
a. Description
b. Location
c. Date Acquired
d. Date Transferred
e. Adjusted Federal Basis
.00
22.
Total column 21e
22.
.00
23.
TOTAL RECAPTURE of Capital Investments. Add lines 14, 19 and 22 OR lines 16, 20 and 22, whichever apply
23.
PART 3: NET CAPITAL INVESTMENT
.00
24.
Net Capital Investment. Subtract line 23 from line 10
24.
PART 4: CALCULATION OF INVESTMENT TAX CREDIT
1.9
.826086
25.
Divide the current tax rate of
% by 2.3% (.023)
25.
26.
Multiply line 25 by the adjusted gross receipts percentage
% from table in the inst.
26.
.00
27.
INVESTMENT TAX CREDIT. Multiply line 26 by line 24. If line 27 is negative, do not complete Part 5.
27.
PART 5: COMPENSATION REDUCTION ADJUSTMENT TO INVESTMENT TAX CREDIT
1.9
28.
Divide current tax rate of
% by line 26
28.
29.
Multiply line 28 by
% from C-8000S, line 6
29.
.00
30.
Reduction. Multiply line 29 by line 27
30.
If line 30 is greater than line 27, this credit is not available. Enter 0 on line 31.
.00
31.
REDUCED INVESTMENT TAX CREDIT. Subtract line 30 from line 27
31.
PART 6: DETERMINING TAX LIABILITY
.00
32.
Enter the amount from C-8000, line 43, Tax Before All Credits
32.
33.
Enter either line 27, Investment Tax Credit OR
.00
line 31, Reduced Investment Tax Credit, whichever applies
33.
.00
34.
Enter any credit carryforward from previous year(s)
34.
.00
35.
Total credit to be applied to tax liability. Add lines 33 and 34
35.
Note: A negative amount on line 35 will increase your tax liability.
.00
36.
Enter the amount from line 32 or 35 whichever is smaller
36.
.00
37.
TAX LIABILITY. Subtract (if negative, add) line 36 from line 32 and carry to C-8000, line 44
37.
.00
38.
Credit Carryforward. If line 35 is greater than line 32, enter the difference
38.
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