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Screen MIINSTPW - Michigan Insurance Company Tax Projection (1120)

Overview

Use this screen to enter information you expect to be different for the next tax year. The application uses this data to calculate the Michigan Tax Projection Worksheet. This worksheet is based on current law and next year’s tax law differences (when known).
Enter only the items you expect to be different for the coming year. If you don't expect a difference, leave the box blank to allow the current-year amount to automatically transfer to the next-year column of the Michigan Tax Projection Worksheet. However, boxes that are marked with an asterisk (*) in the MIINSTPW Screen don't automatically transfer the current-year amount.

Taxes and Credits

The application automatically calculates the total tax for next year by applying the current year tax rates to the projected taxable income. Use this box to override this calculated amount, if needed.

Payments

Enter the amount of current year overpayment that will be credited to next year. If this box is blank, The application defaults to the Credited to next year’s estimated tax amount from the current year return.
Enter the total amount of estimated tax payments that are projected for next year. If this box is blank, The application defaults to the sum of any payments reported on Form(s) 4913 - Michigan Corporate Income Tax Quarterly Return, plus any additional amounts paid that are entered in the
Next year estimates already paid
 boxes in the MIINSEst Screen.
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