5300: 2024 City of Detroit Corporate Income Tax Quarterly Estimated Return (2024)
Michigan · Michigan Treasury · Used for tax years 2024
Form 5300 is the 2024 City of Detroit Corporate Income Tax Quarterly Voucher for submitting estimated tax payments. It identifies the corporation, its tax year ending date and federal employer identification number (FEIN), and the payment amount.
Who files this form
Every corporation with an annual City of Detroit Corporate Income Tax liability of more than $250 must make quarterly estimated tax payments.
Each payment must approximate the corporation’s tax liability for the quarter or 25 percent of its estimated annual liability. If the tax year was less than 12 months, annualize the tax to determine whether estimated payments are required.
When it's due
For calendar-year taxpayers, returns and payments for tax year 2024 are due:
- April 15, 2024
- June 15, 2024
- September 15, 2024
- January 15, 2025, the following year
For fiscal-year taxpayers using the 2024 form, returns and payments are due on or before the 15th day of the 4th, 6th, 9th and 13th months following the start of the fiscal year.
What you'll need
To prepare your payment, have:
- Form 5300, including your personalized voucher if you received one and its information is correct.
- The taxpayer’s name and mailing address.
- The tax year ending date in MM-DD-YYYY format.
- The Federal Employer Identification Number (FEIN).
- The payment amount and a check.
File the original personalized voucher and keep a copy.
How to file
- Complete Form 5300 and detach the payment voucher.
- Make your check payable to “State of Michigan - Detroit.”
- Write the taxpayer’s FEIN, tax year and “City Corp Estimate” on the front of the check.
- Enclose the check and voucher. Do not fold or staple them.
- Mail them to:
Michigan Department of Treasury
PO Box 30409
Lansing MI 48909
Common mistakes
- Using an incorrect personalized voucher. Do not use it if its information is wrong. Never use another taxpayer’s return or photocopy their form, because the payment could be posted to the wrong account.
- Forgetting earlier overpayments or underpayments. Second-, third- and fourth-quarter payments should include necessary adjustments for previous quarters.
- Making insufficient estimated payments. To avoid underpayment interest and penalty, total estimated payments must be at least 70 percent of the lesser of the annual liability for 2023 or 2024. Payments should be made evenly through the year, but may be adjusted if the estimated annual liability changes.
- Folding or stapling the payment materials. The voucher says not to fold or staple, and the filing instructions specifically say not to staple the check to the return.
Questions people ask
What if my corporation’s tax year was less than 12 months?
Annualize the tax to determine whether estimated payments are required. The form gives opening or closing the business during the year as examples.
Where can I get a voucher if I lost mine or have never made estimated payments?
Visit www.michigan.gov/citytax to obtain a form.
Should I use my personalized voucher if a tax preparer helps me?
Yes, if the information is correct. The form says to use personalized vouchers whether you prepare them yourself or get help from a tax preparer. File the original and retain a copy.
What happens if estimated payments are insufficient?
Penalty and interest accrue. The penalty is 1 percent of the tax due for each month or fraction of a month, up to 25 percent. For updated interest rates, visit michigan.gov/citytax, select “Reports and Legal,” and look for the Revenue Administrative Bulletin titled “Interest Rate.”