4590: Annual Return for Financial Institutions (2025)
Michigan · Michigan Treasury · Used for tax years 2025
Form 4590 is the 2025 Michigan Business Tax Annual Return for Financial Institutions. It reports the franchise tax calculation, tax credits, payments, and any tax due, refund, or overpayment credited forward.
Who files this form
Form 4590 is the 2025 Michigan Business Tax Annual Return for Financial Institutions.
The form includes a filing option for a Michigan unitary business group. If filing a group return, check the box on line 9 and include Form 4752.
The form does not state filing thresholds or detailed rules for who must file.
When it's due
For the 2025 return, 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. The printed April 30 deadline does not specify a calendar year.
What you'll need
Have the information needed to complete the form, including:
- Taxpayer name, address, FEIN or TR Number, organization type, business activity, NAICS code, and Michigan business start date.
- Michigan gross business and total gross business for the apportionment calculation.
- Equity capital, goodwill, and average daily book values of Michigan and U.S. obligations for the applicable years shown, 2021 through 2025.
- Authorized insurance company subsidiary capital fund and minimum regulatory amounts, if applicable.
- Prior MBT overpayment credits, estimated tax payments, and payments made with an extension request.
Depending on the entries that apply, the return also uses amounts from:
- Form 4568, line 40: Nonrefundable credits.
- Form 4587, line 13: Recapture of certain business tax credits.
- Form 4975, line 17: Corporate Income Tax adjustment.
- Form 4574, line 23: Refundable credits.
- Form 4582, line 38: Underpaid estimate penalty and interest.
Include Form 4752 if filing a Michigan unitary business group return. For an amended return, have the payments and overpayments from the original and any prior amended returns.
How to file
Complete both pages and sign the taxpayer certification on page 2.
Without payment, mail the return to:
Michigan Department of Treasury
PO Box 30783
Lansing MI 48909
With payment, pay the amount on line 43 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 the taxpayer’s FEIN or TR Number, the tax year, and MBT on the front of the check. Do not staple the check to the return.
The supplied form does not provide e-file directions.
Common mistakes
- Missing a required checkbox: Mark the applicable boxes for an amended return, a new address, a Michigan unitary business group return, or authority to exercise trust powers only.
- Leaving Michigan gross business blank when there is none: Enter zero on line 10a.
- Entering negative amounts where zero is required: Lines 11 through 14 require zero if the amount is less than zero. Follow the other line-specific zero instructions as well.
- Filling in unused lines: Do not enter amounts on lines 23, 24, 25, or 35.
- Completing amended-return lines on an original return: If not amending, skip from line 38 to line 40.
- Forgetting the signature: Continue to page 2 and sign the return.
- Stapling the check to the return: The form specifically says not to do this.
Questions people ask
How is the apportionment percentage calculated?
Divide Michigan gross business on line 10a by total gross business on line 10b. Enter the percentage on line 10c.
What franchise tax rate appears on the form?
Line 22 directs you to multiply the apportioned tax base on line 21 by 0.235% (0.00235).
Can I request a refund or carry an overpayment forward?
Yes. Line 45 is for the amount of the line 44 overpayment to use as an estimate for the next MBT tax year. Line 46 is for the amount to be refunded.
How do I identify an amended return?
Check the amended-return box at the top of page 1. Line 39 is for payments and overpayments from the original and any prior amended returns.
Can Treasury discuss my return with my preparer?
Yes. Check the authorization box in the certification area to allow Treasury to discuss the return with your preparer.