5793: Corporate Income Tax Historic Preservation Tax Credit (2024)
Michigan · Michigan Treasury · Used for tax years 2024
Michigan Form 5793 is used to claim the 2024 Corporate Income Tax Historic Preservation Tax Credit and calculate tax liability after applying the credit. It reports current credits, unused credits from a previous period, credits received by assignment, credit carryforwards, and r
Who files this form
Use Form 5793 to claim the Michigan Corporate Income Tax Historic Preservation Tax Credit. It also allows taxpayers to report recapture of the credit.
The form applies to standard corporate income tax taxpayers, insurance companies, and financial institutions. It includes fields for unitary business groups (UBGs).
Credits are claimed after the State Historic Preservation Office (SHPO) issues final certification of the completed work.
What you'll need
Have the following information and records ready:
- Taxpayer name and federal employer identification number (FEIN). For a UBG, use the designated member’s name and FEIN.
- The SHPO project number and available credit amount. For a UBG, also provide the FEIN of the member receiving the credit.
- The applicable tax liability amount from Form 4891, line 40; Form 4905, line 28; or Form 4908, line 21.
- Any unused credit from the previous period’s CIT return.
Include these attachments when applicable:
- Assigned credits: A copy of the SHPO documents conferring assignment.
- Current-period original credits on line 10: Copies of SHPO certificates of completion for every credit claimed on that line.
- More than two projects: A list of the remaining project numbers, available credit amounts, and, for a UBG, the credit recipients’ FEINs.
- UBG credit recapture: A table identifying each affected member’s FEIN and the project number of the credit being recaptured.
Common mistakes
- Repeating project information unnecessarily: The instructions say to enter project information only the first time the credit is eligible to be claimed.
- Putting other amounts on line 4: Enter only unused credit from a previous period’s CIT return.
- Leaving out extra projects: If claiming credits from more than two projects, attach a list with the remaining project details.
- Missing completion certificates: Include SHPO certificates of completion for every credit claimed on line 10.
Questions people ask
Which properties are eligible for the credit program?
Eligible properties are listed in the National Register of Historic Places or the State Register of Historic Sites, or are in a local historic district. They must either be individually listed or contribute to a listed district.
When can I begin claiming the credit?
Credits are claimed after SHPO issues final certification of the completed work. You must begin claiming them within five years of the date SHPO issues the State Part 3 certification.
Can I claim a credit received by assignment?
Yes. Line 7 reports credit received by assignment during the filing period. SHPO provides the form and approves assignments or reassignments. Include a copy of the SHPO documents conferring assignment.
How is the carryforward calculated?
Add lines 6, 9, and 12 and enter the total on line 13. This is the credit carryforward for your next CIT return.
Where does the tax liability calculated on Form 5793 go?
Carry line 11 to Form 4891, line 41; Form 4905, line 29; or Form 4908, line 22, depending on which return you file.