Form 777 - Michigan Resident Credit For Tax Imposed By A Canadian Province - 2016
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Michigan Department of Treasury
777 (Rev. 05-16)
2016 MICHIGAN Resident Credit for Tax Imposed by a Canadian Province
Issued under authority of Public Act 281 of 1967, as amended. Attach to MI-1040.
1 4
Type or print in blue or black ink. Print numbers like this:
0123456789
- NOT like this:
Filer’s Name(s) as shown on your MI-1040 (First, Middle Initial, Last)
Filer
’s Full Social Security Number
Home Address (Street, City, State, ZIP Code)
Spouse’s Full Social Security Number
PART 1: CONVERSION OF CANADIAN WAGES AND TAXES TO UNITED STATES CURRENCY
1. Canadian income taxed by Michigan............................................................
1.
00
2. Fringe benefits included in Box 14 of the T-4, not taxable in U.S. ................
2.
00
3. Subtract line 2 from line 1 .............................................................................
3.
00
4. Multiply line 3 by the conversion rate of 75.51% (0.7551) (see inst.) .....................................................
4.
00
5. Total Canadian income from line 150 of your Canadian income tax return .
5.
00
6. Multiply line 5 by the conversion rate of 75.51% (0.7551) .......................................................................
6.
00
7. Divide line 4 by line 6 (percentage of Canadian income taxed by Michigan
to total Canadian income)........................................................................................................................
7.
%
8. Multiply the Canadian federal tax (line 420 of Canadian return)
$__________________by the conversion rate of 75.51% (0.7551) ............
8.
00
9. Multiply line 8 by line 7 ............................................................................................................................
9.
00
10. Multiply the provincial tax (line 428 of Canadian return)
$_____________ by the conversion rate of 75.51% (0.7551) .....................
10.
00
11. Multiply line 10 by line 7 ..........................................................................................................................
11.
00
12.
Contribution to Canadian Pension Plan from Form T-4, Boxes 16 and 17 ..
12.
00
13. Multiply line 12 by the conversion rate of 75.51% (0.7551) .....................................................................
13.
00
PART 2: COMPUTATION OF MICHIGAN TAX
14. Adjusted gross income from MI-1040, line 10 .........................................................................................
14.
00
15. Canadian income taxed by Michigan from line 4, above ..............................
15.
00
16. U.S. adjustments to Canadian wages (from U.S. Form 1040, lines 23-25) ..
16.
00
17. Subtract line 16 from line 15 ....................................................................................................................
17.
00
18. Subtract line 17 from line 14 for Michigan sourced income .....................................................................
18.
00
19. Additions from MI-1040, line 11 ...............................................................................................................
19.
00
20. Add lines 17, 18 and 19 ...........................................................................................................................
20.
00
21. Subtractions from MI-1040, line 13..........................................................................................................
21.
00
22. Subtract line 21 from line 20 for income subject to tax ............................................................................
22.
00
23. Divide line 17 by line 22 for percentage of Canadian income to
total income subject to tax ............................................................................
23.
%
24. Exemption allowance from MI-1040, line 15............................................................................................
24.
00
25. Subtract line 24 from line 22 for taxable income .....................................................................................
25.
00
26. Multiply line 25 by the Michigan tax rate of 4.25% (0.0425) ....................................................................
26.
00
PART 3: ALLOWABLE CREDIT FOR TAX PAID TO CANADIAN PROVINCE(S)
27. Multiply line 26 by line 23 for Michigan tax on Canadian province income .............................................
27.
00
28. Add lines 9, 11 and 13 for total tax paid in Canada ......................................
28.
00
29. Adjustments to credit claimed on U.S. Form 1040:
29a. Canadian portion of credit, excluding carryovers, claimed on U.S.
Form 1040, line 47 (see instructions) ................................................. 29a.
00
29b. Canadian income taxed by Michigan from all U.S. 1116 forms .......... 29b.
00
29c. Gross Canadian income from all U.S. 1116 forms .............................. 29c.
00
29d. Divide line 29b by line 29c and enter percentage............................... 29d.
%
29e. Multiply line 29a by line 29d for adjusted
amount claimed on U.S. Form 1040 ................................................... 29e.
00
30. Subtract line 29e from line 28 for amount available for credit on MI-1040 ..............................................
30.
00
31. Canadian provincial tax from line 11. Enter here and on MI-1040, line 18a ............................................
31.
00
32. Credit for tax paid to Canadian province (lesser of lines 27, 30 or 31).
Enter here and on MI-1040, line 18b .......................................................................................................
32.
00
ATTACH THIS FORM TO YOUR MI-1040 RETURN
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