Form 3307 - Sbt Loss Adjustment Worksheet For The Small Business Credit - 1999

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Michigan Department of Treasury
3307 (9-99)
SBT LOSS ADJUSTMENT WORKSHEET
for the Small Business Credit
Issued under P.A. 257 of 1990.
Use this worksheet to qualify for an otherwise disallowed small business credit or alternate tax by adjusting
your current year adjusted business income. This is available only if you had a negative adjusted business
income in any of the five tax years immediately preceding this tax year and you received a small business
credit in the loss year. Partnerships and members of controlled groups - see instructions.
PART 1: Current Year Amounts
Use this section to determine the amount of loss adjustment to the
business income you need to qualify for the small business credit.
Business Income Disqualifier is $475,000 ($115,000 for individuals)
1.
Adjusted Business Income (C-8000C, line 9) .......................................... $____________.00
2.
Less the disqualifier .................................................................................. $____________.00
3.
Loss adjustment. Subtract line 2 from line 1 ............................................................. $ ____________.00
Shareholder Compensation Disqualifier is $115,000
4.
Enter the amount from C-8000C, line 6 ................................................... $____________.00
5.
Disqualifier .............................................................................. $____________.00
6.
Enter compensation & director fees from
C-8000KC, col. K of the shareholder creating
the disqualifier or reduction ..................................................... $____________.00
7.
Subtract line 6 from line 5 ....................................................... $____________.00
8.
Divide line 7 by the percent of ownership (_____%)
from C-8000KC, col. G for the shareholder on line 6 .............................. $____________.00
9.
Loss adjustment. Subtract line 8 from line 4 .............................................................. $____________.00
PART 2: Available Loss
Use this section to determine the loss available from the five preceding years.
1994
1995
1996
1997
1998
10. Did you receive a small business credit?
Complete only those columns in which
you enter "Y."
11. Enter adjusted business income as reported
on C-8000C, line 9 for each tax
year that reported a loss.
12. Amount of loss entered on line 11 used as
an adjustment in a prior year.
13. Loss available for current return.
Subtract line 12 from line 11.
14. Enter the amount from line 3 or 9,
whichever is larger.
15. Loss available for future returns.
Subtract line 14 from line 13.
Attach this worksheet to your return. Keep a copy for your reference.

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