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Screen MLGen - Michigan Personal Property Tax

Overview

Use this screen to complete general information questions for Form 632, Form 5076, or Form 5278.

Federal-to-state input screen and asset module data transfer

If information is transferred from federal input screens or from the asset module to a state input screen, the application displays the transferred data in blue, for example: .
If necessary, you can overrule the transferred amount by entering the appropriate amount in the field. The application then displays the new amount in black.

Statements

Many data entry fields provide predefined statements in which you can enter additional information. For additional information, see Statements overview.

Accessing frequently asked questions

To view answers to common questions about calculations and data entry issues, go to the Help menu, select Additional Resources, then Frequently Asked Questions.

General Information

Use this section to record general information for the client’s Michigan PPT return.
Enter
X
 to force UltraTax CS to use data from the
MI
treatment
 column in Fixed Assets CS or the asset module in UltraTax CS.
Enter
X
 to calculate Form 5278 and Form 5328 for all units. By default, UltraTax CS will generate either Form 632 or Form 5076 for each unit.
Enter the name of the business. If there is no separate business name, the owner’s name prints in the mailing address field and also appears as the legal name of the taxpayer.
In this statement dialog, enter any assumed names used in conducting business.
Select the applicable letter from the fieldview to indicate if this return is filed by the taxpayer, spouse, or jointly. If you leave this field blank, UltraTax CS defaults to the taxpayer.
Type Code
Description
T
Taxpayer (Default)
S
Spouse
J
Joint
If the mailing address differs from the federal return, enter the address that you want to print in the FROM section on Form 632, Page 1 or Form 5076 or in the TAXPAYER section on Form 5278.
Use these fields to enter the business city, state, and zip code. These fields apply to all ML PPT returns for this client. Use the
Business address: City, state, zip code
 fields in the MLReturn screen to enter a different city, state, or zip code for a particular return. If you leave these fields blank, UltraTax CS defaults to the federal city, state, and zip code.
Enter
X
 to force UltraTax CS to display the estimated assessor calculations on Form 632 or Form 5278.
If the business is authorized to operate in the State of Michigan, enter the Michigan ID number. If it is not authorized to do business in Michigan, enter the state in which the business is organized.
Enter the taxpayer’s telephone number. If you leave this field blank, UltraTax CS defaults to the federal client phone number.
Enter the name of the person to contact for Form 2698 or Form 5278 purposes. If you leave this field blank, UltraTax CS defaults to the tax matters partner name (for 1065 returns), the taxpayer name (for 1040 returns), or the federal officer name (for all other returns).
Enter the name of the person signing Form 2698, Form 5076, or Form 5278. If you leave this field blank, UltraTax CS defaults to the tax matters partner name (for 1065 returns), the taxpayer name (for 1040 returns), or the federal officer name (for all other returns).
Enter the title of the person signing Form 2698 or Form 5278. If you leave the
Name of person signing return
 field blank, UltraTax CS defaults this field to the title of the tax matters partner (for 1065 returns), the taxpayer (for 1040 returns), or the federal officer (for all other returns).
Enter the name of the person in charge of personal property tax records. If you leave this field blank, UltraTax CS defaults to the tax matters partner name (for 1065 returns), the taxpayer name (for 1040 returns), or the federal officer name (for all other returns).
Enter the address where the personal property records are kept. If you leave this field blank, UltraTax CS defaults to the federal address.
Select the parcel property type from the drop-down list. UltraTax CS uses this information, combined with city / township and school tax district information to determine an approximate tax rate for the filing instructions. If you leave this field blank, UltraTax CS defaults to type 1, Commercial.

Return Information - Form 632 and Form 5076

Use this section to complete general return information for Form 632, Page 1 or Form 5076.
Enter
1
 to force the printing of Form 632 for all units. Enter
2
 to force the printing of Form 5076 for all units. By default, UltraTax CS will generate either Form 632 or Form 5076 for each unit based on the true cash value calculated for each city or township for personal property. Form 632 will generate for a city or township with true cash value equal to or greater than $80,000, and Form 5076 will generate for a city or township with true cash value less than $80,000.
Enter
X
 to force UltraTax CS to print all pages of Form 632, even if all are not required.
Enter the date on which business first commenced.
Enter the NAICS code for this business activity. This field applies to all Michigan PPT returns for this client. Use the
NAICS code
 field in the MLReturn screen to enter a different code for a particular return. If you leave this field blank, UltraTax CS defaults to the federal business code for 1120 and 1065 returns.
Enter the taxpayer’s business activity. If you leave this field blank, UltraTax CS defaults to the federal business activity for all entities except 1040, 1041, and 990.
Enter the email address for Form 632. If you leave this field blank, UltraTax CS defaults to the data entered in Preparer information.
In this statement dialog, enter the names of the business partners. If you leave this field blank, UltraTax CS defaults to the federal partner names.

Return Information - Form 5278

Use this section to complete general return information for Form 5278.
Enter the address that should be used for the Personal Property Information on Form 5278, Part I. This field applies to all Michigan PPT returns for this client. Use the
Personal property address
 fields in the MLRet-2 screen to enter a different code for a particular return.
Enter the EIN of the business for Form 5278 or Form 5277. If this field is left blank, UltraTax CS defaults to the Federal EIN number.
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