4567: Annual Return (2024)
Michigan · Michigan Treasury · Used for tax years 2024
Michigan Form 4567 is the 2024 Michigan Business Tax Annual Return. It reports gross receipts, business income, adjustments, credits, and payments to calculate Michigan Business Tax liability.
Who files this form
Form 4567 is the Michigan Business Tax (MBT) annual return for standard taxpayers. It calculates the Modified Gross Receipts Tax and Business Income Tax.
Only taxpayers with an awarded certificated credit that has not been fully claimed or used may elect to be MBT taxpayers. Filing an MBT return and claiming that credit commits the taxpayer to filing and paying under MBT until the credit and any carryforward are exhausted.
- A Michigan unitary business group (UBG) with standard members must file Form 4567 through its designated member. If a member claims a certificated credit, the entire group must elect to remain under MBT.
- Insurance companies should use Form 4588 instead.
- Financial institutions should use Form 4590 instead.
When it's due
For tax year 2024, the form states that the return is due April 30, or on or before the last day of the fourth month after the close of the tax year.
What you'll need
Have your FEIN or Michigan Treasury (TR) number, business details, Michigan and total sales, gross receipts, business income, deductions, and payment amounts available.
Prepare these supporting documents as applicable:
- Gross Receipts Worksheet 4700: Use it to calculate gross receipts and attach it to the return.
- Form 4946: Use this schedule to calculate the Corporate Income Tax comparison and any adjustment reported on line 58.
- Form 4580 for a UBG: Complete it before Form 4567 and include the required member information.
- Credit and recapture forms: Form 4568 for nonrefundable credits, Form 4574 for refundable credits, and Form 4587 for credit and deduction recapture, as applicable.
- Form 4586: Include it if claiming protection for business activity under Public Law 86-272.
- A pro forma federal return or equivalent schedule: A taxpayer other than a UBG must prepare this if it does not file a separate federal return.
For an amended return, attach an explanation of the changes and include all forms filed with the original return, even if those forms are unchanged. Also include an amended federal return or a signed and dated IRS audit document, if applicable.
How to file
Complete the applicable parts of the return and sign the taxpayer certification on page 3. For a UBG, an individual authorized to sign for the designated member must sign.
By mail, without payment:
Michigan Department of Treasury
PO Box 30783
Lansing MI 48909
By mail, with payment:
Pay the amount on line 70 and mail the check and return to:
Michigan Department of Treasury
PO Box 30113
Lansing MI 48909
Make the check payable to State of Michigan. Print your FEIN or TR number, the tax year, and MBT on the front. Do not staple the check to the return.
E-file: The text states that an FEIN is required to submit a return through e-file. It does not provide further e-file submission steps.
Common mistakes
- Using a missing or inconsistent account number: Use the same FEIN or TR number on all forms. Returns without a registered account number will not be processed until one is provided.
- Entering amounts on unused lines: Leave lines 52 and 62 blank. The annual surcharge no longer applies.
- Attaching the original return to an amendment: Do not include a copy of the original return with the amended return.
- Trying to revoke the MBT election by amending: An amendment cannot revoke a valid election to remain under MBT.
- Assuming an address change updates every Treasury record: Checking the new-address box does not change your primary legal address in Treasury's records. That change must be made through your Michigan Treasury Online account.
- Using line 6 just because Michigan business activity stopped: Do not use that line if the taxpayer still exists, remains subject to another Treasury-administered tax, or is a UBG with only one member that stopped doing business.
Questions people ask
How do I amend my 2024 return?
Use the 2024 Form 4567, check the amended-return box, and enter the figures as they should be. Attach a separate explanation of the changes, all forms filed with the original return, and any applicable amended federal return or signed and dated IRS audit document. Do not attach a copy of the original return.
Can I stop filing under MBT while I still have a certificated credit carryforward?
Once you make a valid election to claim a certificated credit, you must remain under MBT until the credit and any carryforward are exhausted. You cannot revoke that election through an amended return.
Can I apply an overpayment to the next tax year?
Yes. Line 72 lets you designate an amount from the overpayment on line 71 as an estimated payment for the next tax year. Enter the amount you want refunded on line 73.
What if I am filing only to recover estimated payments?
If apportioned or allocated gross receipts are less than $350,000, there is no recapture, and you are filing to claim a refund of estimates paid, the instructions say to skip lines 13 through 57 and lines 64 through 67. UBGs have additional Form 4580 requirements, and their gross-receipts test uses combined amounts before eliminations.