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Screen MLReturn - Michigan PPT - Business
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Overview
Use this screen to complete Form 632, Page 1, Form 5076, Form 5278, Form 5277 or Form 5328.
note
UltraTax/Michigan PPT prints one copy of Form 632, Michigan Personal Property Statement; Form 5076, Affidavit to Claim Small Business Tax Exemption Under MCL 211.90; Form 5278, Eligible Manufacturing Personal Property Tax Exemption Claim, Ad Valorem Personal Property Statement, and Report of Fair Market Value of Qualified New and Previously Existing Personal Property (Combined Document); Form 5277, Affidavit to Rescind Exemption of Eligible Manufacturing Personal Property, Defined in MCL 211.9(m) and 211.9(n); or Form 5328, Essential Services Assessment Annual Return for each unit of the MLReturn screen.
General Information
Use this section to complete general information for Form 632, Page 1 or Form 5278, Page 1 that is different from the MLGen screen.
Unit
UltraTax CS automatically enters the next available number. If desired, you can overwrite this number, but you cannot leave the field blank. UltraTax CS uses this information to gather and coordinate information for the assessable business location.
Parcel number
UltraTax CS transfers the parcel number that you entered in the
Location ID#
field in the Asset Detail dialog. UltraTax CS creates one property tax return for every parcel number entered. In order for the assets in the Asset tab to transfer correctly, you need to go to the Asset tab, select Setup, then Associations, and choose Enable. Select Location ID#
and then click the Properties button. Add the parcel number for each return you would like to create. Once that is complete, go to Edit and select Reassign Assets and then assign a Location ID# to the assets.note
- If the return has no depreciable assets, and you have enteredXin theCreate return, only if this return has no depreciable assetsfield, you may enter the parcel number in this field.
- UltraTax CS uses the parcel number that you enter as the description for this input screen unit in the folders block.
Create return, only if this return has no depreciable assets
If the return has no depreciable assets, enter
X
to create a unit of this screen. After you mark X
, UltraTax CS allows you to enter the parcel number, which creates a unit of this screen.note
- If this return has depreciable assets, click the Asset tab in the applicable federal activity and enter PPT information for each asset before you enter data in the MLReturn screen.
- For each asset in the Asset Detail dialog for the applicable federal activity for Form 632, Form 5076, or Form 5278, you must complete theLocation ID#andPPT Type - MIfields and you must selectMichiganfrom theSitusfield.
Qualified for Essential Services Assessment return
Enter
X
to calculate Form 5278 for this unit. UltraTax CS generates either Form 632 or Form 5076 for each unit by default.City / township / village
Select the city, township or village for this unit. UltraTax CS uses this information, combined with the school tax district and parcel property type information, to determine an approximate tax rate for the filing instructions.
note
- If the return has no depreciable assets, and you have enteredXin theCreate return, only if this return has no depreciable assetsfield, you may enter the city or township in this field.
- To enter addresses for the cities and townships, go to the MI PPT Assessor Address Setup screen. To get to the screen, go to Setup and select the entity you're working in. On the Michigan PPT tab, select City / township.
School district code
Select the correct school district code from the fieldview. UltraTax CS uses this information, combined with city / township /village and parcel property type information, to determine an approximate tax rate for the filing instructions.
Township village is located in
Enter the name of the township the village is located in if Form 5328 is being filed and a village has been selected in the
City / township / village
field.Business name
Enter the name of the business.
Assumed names used by legal entity
In this statement dialog, enter any assumed names used in conducting business. If you leave this field blank, UltraTax CS defaults to the entry in the MLGen screen.
Indicate name to print on return
Enter the applicable code to indicate if this return is filed by the taxpayer, spouse, or joint. 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
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.
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.
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.
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).
Date business began at above location
Enter the date that business first commenced at the location reported on the property tax return. If you leave this field blank, UltraTax CS defaults to the date entered in the
Organization date
field in the MLGen screen or (if the Organization date
field in the MLGen screen is also blank) the federal date of incorporation.Approximate tax rate (Force)
Enter the approximate tax rate to appear on the return summary if different than the calculated amount.
Business location
In this statement dialog, enter the address where the business is located for Form 2698. If this statement dialog is 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 / village 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.General footnote
In this statement dialog, enter any supplemental information that should be submitted with the return.
Return Information - Form 632 and Form 5076
Use this section to complete general return information for Form 632 or Form 5076.
Force Form 632 or 5076 to print
Enter
1
to force Form 632 to print for this unit. Enter 2
to force Form 5076 to print for this unit. By default, UltraTax CS generates 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 generates for a city or township with true cash value equal to or greater than $80,000, and Form 5076 generates for a city or township with true cash value less than $80,000.NAICS code
Enter the NAICS code for 1040 and 1041 returns. For 1120 and 1065 returns, UltraTax CS uses the business code entered on the federal return.
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 and 1041.
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.
Personal property location(s)
In this statement dialog, enter the street addresses of all asset locations.
Square footage occupied
Enter the number of square feet of space occupied by the reported locations.