4974: Schedule of Corporate Income Tax Liability for an MBT Insurance Filer (2025)
Michigan · Michigan Treasury · Used for tax years 2025
Michigan Form 4974 is a schedule used by Michigan Business Tax (MBT) insurance filers to calculate Corporate Income Tax (CIT) liability after certificated nonrefundable credits and credit recapture. It compares that liability with MBT liability and determines the difference to ca
Who files this form
The 2025 Michigan Form 4974 is for Michigan Business Tax (MBT) insurance filers to calculate Corporate Income Tax (CIT) liability and compare it with their MBT liability. The form does not state more detailed filing requirements.
What you'll need
The form calls for your taxpayer name and Federal Employer Identification Number (FEIN), plus amounts from:
- Form 4588: lines 23, 26, and 27.
- Form 4596: lines 18b, 20, and 25 for the listed credits.
- Worksheet A: line 24.
Lines 2 and 4 refer to instructions for noncertificated nonrefundable credits and the available Renaissance Zone Credit. Those instructions are not included in the provided text.
Common mistakes
Follow these line-specific directions carefully:
- Line 3: If subtracting line 2 from line 1 gives a result below zero, enter zero.
- Line 7: If the amount from Form 4596, line 18b, is negative, enter it as a negative number.
- Lines 5, 8, and 11: Enter the lesser of the two amounts specified on each line.
- Line 20: If line 19 is greater than or equal to line 18, enter zero. Carry the line 20 amount to Form 4588, line 28.
Questions people ask
Which credits are added together on line 14?
Add the Renaissance Zone Credit on line 5, Historic Preservation Credit Net of Recapture on line 8, Brownfield Redevelopment Credit on line 11, and Film Infrastructure Credit on line 13.
Where does the starting amount for Part 2 come from?
On line 15, enter the amount from Worksheet A, line 24. The form refers to instructions for that worksheet, but those instructions are not included in the provided text.
How is CIT after recapture calculated?
Subtract line 14 from line 15 to calculate line 16. Enter the total recapture from Form 4588, line 26, on line 17. Then add lines 16 and 17 to calculate line 18.
What do I enter on line 20?
If line 18 is greater than line 19, enter the difference. If line 19 is greater than or equal to line 18, enter zero. Carry the result to Form 4588, line 28.