4584: Election of Refund or Carryforward of Credits, and Calculation of Historic Preservation and Brownfield Redevelopment Carryforward (2024)
Michigan · Michigan Treasury · Used for tax years 2024
Michigan Form 4584 is a 2024 Michigan Business Tax form used to elect a refund or carryforward of certain credits and calculate credit amounts. It includes Historic Preservation and Brownfield Redevelopment credit recapture and carryforward calculations, a MEGA Federal Contract C
Who files this form
Form 4584 is for Michigan Business Tax (MBT) taxpayers claiming the credits covered by this form or calculating their credit carryforwards.
- Standard taxpayers use it for certain credits that allow a choice between a refund and a carryforward when the credit exceeds tax liability.
- Nonrefundable Historic Preservation and Brownfield Redevelopment credits and their nonrefundable carryforwards are claimed here. Their refundable accelerated credits are claimed on Form 4889 instead.
- Financial institutions and insurance companies may use Form 4584 only for the Historic Preservation and Brownfield Redevelopment credits.
- A unitary business group (UBG) completes one Form 4584 for the group, using the designated member’s name and account number.
Only taxpayers with an awarded certificated credit that has not been fully claimed or used may elect to be MBT taxpayers.
What you'll need
Have your applicable MBT annual return, prior-period credit carryforward amounts, and the credit forms used for your calculations available. Depending on your claim, you may need:
- Historic Preservation: Form 3581 for current-period credits. For assigned credits on lines 10 and 13, attach the Michigan Department of Treasury approval letter received from the assignor.
- Brownfield Redevelopment: Attach the Assignment Certificate for assigned credits on line 43 and the Certificate of Completion for credits on line 46.
- MEGA Federal Contract: Attach the Defense Contracting Tax Credit Certificate.
- Anchor Company credits: Attach the Anchor Jobs Tax Credit Certificate for the Payroll Credit or the Anchor District Tax Credit Certificate for the Taxable Value Credit.
- Applicable MEGA battery credits: Attach the credit certificate supporting the claim.
- UBGs: Attach the claiming members’ credit certificates. If a member reports Historic Preservation or Brownfield recapture, attach a statement identifying that member.
How to file
Include completed Form 4584 as part of your tax return filing.
Use the name and account number shown on page 1 of your applicable MBT annual return. Complete the credit sections that apply, attach the required approval letters or certificates, and transfer the calculated amounts to the forms and lines identified on Form 4584.
The provided text does not specify a mailing address or an e-file method.
Common mistakes
- Leaving out required attachments. The text warns that credits will be disallowed if the required approval letters or certificates are not attached.
- Trying to change the refund election later. The election must be made on the original return for the year the credit was earned. An amendment cannot change it.
- Splitting excess credit between a refund and a carryforward. This is not allowed. Amounts elected for carryforward cannot later be refunded, and assigned credits cannot be refunded.
- Combining Historic Preservation carryforwards. Record Special Consideration carryforwards separately from Basic/Enhanced carryforwards. Special Consideration carryforwards do not expire after ten years.
- Putting SBT carryforwards on this form. Available Single Business Tax Historic Preservation and Brownfield carryforwards are claimed separately on Form 4569.
- Claiming a new MEGA Plug-In Traction Battery Manufacturing Credit. Only an available carryforward from the immediately preceding tax year may still be claimed. Leave lines 60, 62a, and 62b blank.
Questions people ask
Can I receive a refund for every credit on Form 4584?
No. Historic Preservation and Brownfield Redevelopment credits claimed here are nonrefundable. Their refundable accelerated credits are claimed on Form 4889. Assigned credits cannot be refunded.
Can I change my refund or carryforward choice on an amended return?
No. Make the election on the original return for the year the credit was earned. The election cannot be changed by amendment, and an amount elected for carryforward cannot later be refunded.
How long can I carry forward a Brownfield Redevelopment Credit?
If the credit exceeds your tax liability for the year, the excess may be carried forward for a maximum of ten years.
Does each member of a unitary business group complete a separate Form 4584?
No. Complete one form for the group using the designated member’s name and account number. If multiple members claim the same credit, enter their combined amounts on the corresponding lines and attach their credit certificates.
Who is responsible for Historic Preservation recapture if the credit was assigned?
The qualified taxpayer that received the certificate of completed rehabilitation is responsible, not the assignee.