4975: Schedule of Corporate Income Tax Liability for an MBT Financial Filer (2025)
Michigan · Michigan Treasury · Used for tax years 2025
Michigan Form 4975 is a schedule for Michigan Business Tax (MBT) financial filers to calculate Corporate Income Tax (CIT) liability based on net capital, including certificated credits and recapture. It compares that liability with MBT liability after refundable credits and deter
Who files this form
The 2025 Michigan Form 4975 is for Michigan Business Tax (MBT) financial filers. It calculates Corporate Income Tax (CIT) liability and compares it with MBT liability after refundable credits.
The form directs unitary business groups to see the instructions, which were not provided.
What you'll need
Have these details and forms available to complete the schedule:
- Taxpayer name and Federal Employer Identification Number (FEIN).
- Net capital for the current taxable year for line 5. The form refers to instructions for this amount, but those instructions were not provided.
- Form 4590: the percentage on line 10c, total MBT liability on line 30, and refundable credits on line 37.
- Form 4947: certificated nonrefundable credits on line 11, recapture on line 28, and certificated refundable credits on line 39.
Common mistakes
- Do not enter amounts on lines 1 through 4. Skip to line 5.
- Do not enter a negative amount on line 9. If line 7 minus line 8 is less than zero, enter zero.
- Keep negative results on lines 13 and 16. The form says a negative number on either line represents an overpayment.
- Check the comparison on line 17. If line 13 is greater than line 16, enter the difference. If line 16 is greater than or equal to line 13, enter zero.
- Carry line 17 to Form 4590, line 31.
Questions people ask
How is the tax liability on line 7 calculated?
Multiply the tax base on line 5 by the percentage on Form 4590, line 10c, to get the apportioned tax base on line 6. Then multiply line 6 by 0.29% (0.0029).
Where do the credits and recapture amounts come from?
Use Form 4947: line 11 for certificated nonrefundable credits, line 28 for recapture, and line 39 for certificated refundable credits.
What does a negative number on line 13 or line 16 mean?
The form says a negative number on either line represents an overpayment.
Where does the result on line 17 go?
Carry the amount from Form 4975, line 17, to Form 4590, line 31.