Filing RequirementsEstimated Returns and

Payments
Corporate, financial institution and insurance company taxpayers that
reasonably expect to have a liability of more than $800 for the tax year
must make quarterly estimated payments and returns. Each payment must
approximate the taxpayer's tax liability for the quarter or 25% of estimated
annual liability. Second, third, and fourth quarter payments should include
any necessary adjustments for overpayments or underpayments from a
previous quarter. Interest and penalty will not be assessed if the sum of all
estimated payments made is at least 85% of the annual liability and each
quarterly payment reasonably approximates the liability incurred in the
quarter.

Taxpayers that calculate and pay estimates pursuant to IRC 6655(e) may use the
same methodology to make CIT estimated payments.
Estimated returns and payments are due to the Department on April 15, July 15,
October 15, and January 15. Fiscal year taxpayers should make returns and
payments on the appropriate due date which in the fiscal year corresponds to the
calendar year.
If filing monthly using Form 160, Combined Return for Michigan Taxes, and not
making remittances by electronic funds transfer, monthly payments may be filed
on the 20th day of the month. However, for taxpayers required to make
remittances by electronic funds transfer or otherwise not using Form 160, CIT
estimates remain due on the 15th day of the month following the final month of
the quarter. Regardless of the method chosen, the estimated CIT for the quarter
must always reasonably approximate the liability for the quarter.

For tax years after the first CIT tax year, a taxpayer may submit four equal estimated
payments, the sum of which equals the previous tax year's liability, if the previous year's
liability was $20,000 or less.

For the taxpayer's first year under the CIT of less than 12 months, the amounts paid with
each quarterly return shall be proportional to the number of payments made in the first tax
year. A taxpayer with a tax year of less than four months is not required to file an
estimated tax return or remit estimated payments.
Annual Returns

An annual or final return must be filed with the Department by the last day of the fourth
month after the end of the taxpayer's tax year. A taxpayer must remit any liability by the
due date of the return.
The Department of Treasury will prescribe forms for use by taxpayers.
Filing Thresholds

Taxpayers with less than $350,000 in allocated or apportioned gross receipts are not
required to file a return or pay the tax. In calculating the filing threshold, the apportioned
or allocated gross receipts of a flow-through entity shall be imputed to each of its members
based upon the same percentage that each member's proportionate share of distributive
income is to the total distributive income of the flow-through entity. A taxpayer with an
annual liability of less than or equal to $100 is not required to file or pay under the act.
For tax years of less than 12 months, a taxpayer's gross receipts filing threshold is
calculated by multiplying $350,000 by a fraction, the numerator of which is the number of
months in the taxpayer's tax year and the denominator of which is 12.

The gross receipts filing threshold does not apply to insurance companies and financial
institutions. However, these taxpayers are not required to file or pay if annual liability is
less than or equal to $100.
Extension of Time to File
The Department of Treasury may grant an extension for filing of a return for good cause
shown. If the taxpayer received a federal extension and files a copy of that federal
extension with the Department, together with a tentative return and payment, then the
taxpayer will receive an automatic extension to the last day of the eighth month following
the original due date.

An extension of time to file is not an extension of time to pay.

An insurance company does not qualify for an automatic extension.
Tax Year
A CIT taxpayers tax year is the calendar year, or the fiscal year ending during that
calendar year. In the case of a return made for a fractional part of a year, tax year is
the period for which the return is made. Except for the first return required under the CIT,
a taxpayers tax year shall be for the same period as is covered by its federal income tax
return.
A taxpayer that has a 52- or 53-week tax year beginning not more than 7 days before the
end of any month is considered to have a tax year beginning on the first day of the
subsequent month.

A person included in a unitary business group that joins or departs the unitary business
group other than at the beginning or end of that persons federal tax year shall have a tax
year beginning at the start of its federal tax year and ending on the date of joining or
departing the unitary business group, and another tax year beginning on the date
immediately after joining or departing the unitary business group and ending with the
conclusion of its federal tax year.
Computation of First Tax year Less than 12 Months

If a taxpayer's CIT tax year ends before December 31, 2012, the tax may be computed by
applying the CIT to the actual short period tax year or computed as though the CIT were in
effect for the taxpayer's entire tax year and prorating.

The choice between the annual and actual calculation methods applies only to the first
year under the CIT. The calculation method chosen by the taxpayer for the first short year
must be the same as the method used by the taxpayer when computing the final MBT
return for the other portion of the taxpayer's same tax year.

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