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Screen MLGen - Michigan Personal Property Tax
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Overview
Use this screen to complete general information questions for Form 632, Form 5076, or Form 5278.
note
To enter information specific to the parcel number, use Screen MLReturn.
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.
note
- When you overrule a transferred amount, the application does not overwrite that amount with subsequent federal-to-state or asset module data transfers.
- To delete the overruled amount and restore the original transferred amount, right-click the field and choose Delete overrule or simply enter the original amount in the field.
- To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. The application then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to enter it manually.
- If desired, you can set a user preference to mark fields for which you overruled the transferred amounts and to list all overruled amounts in the Diagnostics window.
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.
note
UltraTax/Michigan PPT has the ability to print all pages of Form 632 even if not all pages are required.
Complete return using the MI treatment within the Asset module
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.note
- To regenerate the transfer of information from Fixed Assets CS or the applicable federal asset module, go to Utilities and select Fixed Assets CS (Import).
- To mark theComplete return using the MI treatment within the Asset modulefield one time for all new clients, select Setup, then the entity type you're working in. On the Michigan PPT tab, select New Client Options.
Qualified for Essential Services Assessment return
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.Business name
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.
Assumed names used by legal entity
In this statement dialog, enter any assumed names used in conducting business.
Indicate name to print on return
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 |
note
This field applies only to 1040 clients.
Business address: Number and street
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.
note
The address on Schedule C does not transfer to these fields as the business mailing address. The desired mailing address must be entered in this screen if it differs from the address on the federal return. If multiple mailing addresses are required, use Screen MLReturn to enter them.
Business address: City, state, zip code
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.Show assessor calculations
Enter
X
to force UltraTax CS to display the estimated assessor calculations on Form 632 or Form 5278.Michigan ID number or state (if not Michigan) authorized to do business in
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.
Taxpayer telephone number
Enter the taxpayer’s telephone number. If you leave this field blank, UltraTax CS defaults to the federal client phone number.
Name of person to contact
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).
Name of person signing return
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).
Title of person signing return
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).Person in charge of records
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).
Address where personal property records are kept
Enter the address where the personal property records are kept. If you leave this field blank, UltraTax CS defaults to the federal address.
Parcel property type
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.
Force Form 632 or 5076 to print
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.Print all pages of Form 632
Enter
X
to force UltraTax CS to print all pages of Form 632, even if all are not required.Organization date
Enter the date on which business first commenced.
note
If this field is blank, UltraTax CS defaults to the federal date incorporated for 1120 and 1065 clients.
NAICS code
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.Business activity description
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.
Preparer’s e-mail address
Enter the email address for Form 632. If you leave this field blank, UltraTax CS defaults to the data entered in Preparer information.
Partners’ names
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.
note
This field applies to 1065 clients only.
Return Information - Form 5278
Use this section to complete general return information for Form 5278.
Personal property address
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.EIN
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.