5297: City of Detroit Corporate Income Tax Return (2024)
Michigan · Michigan Treasury · Used for tax years 2024
Form 5297 is the 2024 City of Detroit Corporate Income Tax Return. It reports corporate income, adjustments, income apportioned to Detroit, tax liability, and payments to calculate tax due or an overpayment. It can also be used to amend a previously filed return.
Who files this form
Every corporation doing business in Detroit must file an annual Form 5297, even if it has no office or place of business in the city.
- Tax-option corporations, such as S corporations and REITs, are treated as corporations. Corporations cannot elect to file and be taxed as partnerships.
- The ordinance exempts financial institutions, as defined in the instructions, and insurance companies from taxation.
- A corporation must file a Detroit income tax return to claim the Renaissance Zone Deduction.
Corporations with an annual corporate income tax liability of more than $250 must make quarterly tax payments.
When it's due
- Calendar tax year 2024: File by April 15, 2025.
- Fiscal-year filers using the 2024 return: File by the 15th day of the fourth month after the fiscal year ends. Use the same accounting period as your federal income tax return.
To request more time to file, submit Form 5301. Treasury may extend the filing time by up to six months. You must pay the tentative tax when requesting an extension. An extension to file is not an extension to pay.
What you'll need
Have these items ready:
- Your federal Form 1120, 1120S, or other corporate return, including Schedule K and all related schedules filed with the IRS. Attach copies to Form 5297.
- Your FEIN, six-digit NAICS code, incorporation details, address, and number of locations in Detroit and everywhere.
- Records of property values, real-property rent, employee compensation, and sales or service receipts for Detroit and everywhere.
- Records of prior-period credits, estimated tax payments, and tax paid with an extension request.
Depending on your return, also include:
- S corporations: Complete Worksheet A in the instructions.
- Renaissance Zone Deduction: Attach Form 5298.
- Separate accounting: Attach the administrator's approval letter.
- Line 31 subtractions: Include supporting schedules. For partnership income claimed and paid on Form 5458, include proof of payment or other supporting documentation.
- Line 35 loss carryover: Attach a schedule showing your calculation.
- Amended returns: Include an explanation if using reason code 02 or 10.
How to file
Complete both pages, attach the required federal return and supporting schedules, and sign the taxpayer certification on page 2.
Mail all returns to:
Michigan Department of Treasury
PO Box 30811
Lansing MI 48909
If payment is due: Pay the amount on line 51 when filing. Make your check or money order payable to State of Michigan - Detroit. Print the taxpayer's FEIN, tax year, and Detroit Corporate Tax on the front of the check. Do not staple the check to the return.
Forms are available at michigan.gov/citytax.
Common mistakes
- Leaving required zero entries blank: Enter numeric zero on lines 16, 17, and 18 when the amount is zero. Do not write “none.” Also enter zero on line 19 if applicable. Otherwise, leave nonapplicable or zero-amount fields blank unless instructed differently.
- Entering cents or rounding percentages: Report whole dollars, rounding 49 cents or less down and 50 cents or more up. Carry percentages to four decimal places without rounding.
- Using parentheses for losses: Use a minus sign for negative amounts. Enter amounts on lines 20 through 32 as positive numbers.
- Using hard-to-read formatting: Use black or blue ink and capital letters. Do not use pencil, red ink, felt-tip pens, or highlighting. Mark checkboxes with an X.
- Omitting identification: Use the same FEIN on all forms and repeat it at the top of page 2.
- Treating an extension as extra time to pay: The tentative tax must be paid when an extension is requested.
- Claiming a net operating loss carryback: Carrybacks are not permitted.
Questions people ask
What is the Detroit corporate income tax rate for 2024?
The rate is 2.0%.
How do I correct a previously filed return?
Use a new Form 5297, check the amended-return box, and complete line 9 and lines 44 through 46. An amended return is required for adjustments resulting from an IRS audit.
Can I receive a refund or apply an overpayment to next year's tax?
Yes. You may request a refund of all or part of an overpayment, apply all or part to next year's estimated tax, or split it between the two. Complete lines 53 and 54 as applicable.
Does changing my address on this return update my primary Treasury address?
No. Treasury uses the address on this return for correspondence and any refund related to it. To change your primary legal address in Treasury's records, file Form 163.