4582, Michigan Business Tax Penalty and Interest Computatino for Underpaid Estimated Tax

Michigan Department of Treasury

4582 (Rev. 10-21), Page 1 of 2

Attachment 16

2021 MICHIGAN Business Tax Penalty and Interest Computation

for Underpaid Estimated Tax

Issued under authority of Public Act 36 of 2007.

Taxpayer Name )HGHUDO(PSOR\HU,GHQWL¿FDWLRQ1XPEHU)(,1RU751XPEHU

PART 1: ESTIMATED TAX REQUIRED

1. Annual tax from Form 4567, line 59; or Form 4588, line 47; or Form 4590, line 32 .............................................. 1. 00

2. Required estimate amount. Enter 85% (0.85) of line 1.......................................................................................... 2. 00

See MBT instruction booklet for exceptions to penalty and

interest computation. A

BCD

3. ENTER THE PAYMENT DUE DATES (MM-DD-YYYY) .... 3.

Divide amount on line 2 by 4, or by the number of

quarterly returns required. If annualizing, enter the

amount from Annualization Worksheet, line 70, page 2 .... 4.

CAUTION: Complete lines 5 - 13 one column at a time

X X X X X X X X X X X X X X X

5. Prior year overpayment ..................................................... 5.

Estimated payments and refundable credits (see instr.).....

7. Enter amount, if any, from line 13 of the previous column .7.X X X X X

8. Add lines 5, 6 and 7 ........................................................... 8.

9. Add amounts on lines 11 and 12 of the previous column

and enter the result here ................................................... 9.

X X X X X

10. Subtract line 9 from line 8. If less than zero, enter zero.

For column A only, enter the amount from line 8 ............... 10.

11.

Remaining underpayment from previous period. If

amount on line 10 is zero, subtract line 8 from line 9 and

enter result here. Otherwise, enter zero ............................ 11.

X X X X X

12.

If line 4 is greater than or equal to line 10, subtract line 10

from line 4 and enter it here. Then go to line 6 of the next

column. Otherwise, go to line 13 ....................................... 12.

13. If line 10 is larger than line 4, subtract line 4 from line 10

and enter it here. Then go to line 6 of next column ........... 13.

PART 2: FIGURING INTEREST

ABCD

14. TOTAL UNDERPAYMENT. Add lines 11 and 12 ................. 14.

15.

Enter due date for the next quarter or date tax was paid,

whichever is earlier. In column D, enter the due date for the

annual return or date tax was paid, whichever is earlier ...... 15.

16. Number of days from the due date of the quarter to the

date on line 15 .................................................................... 16.

17.

No. of days on line 16 after 04-15-21 and before 07-01-21..

17.

18.

No. of days on line 16 after 06-30-21 and before 01-01-22..

18.

19.

No. of days on line 16 after 12-31-21 and before 07-01-22..

19.

20.

No. of days on line 16 after 06-30-22 ...................................

20.

21.

Number of days on line 17 x 4.25% (0.0425) x line 14 .......

21.

365

22.

Number of days on line 18 x 4.25% (0.0425) x line 14 .......

22.

365

23.

Number of days on line 19 x 4.25% (0.0425) x line 14 .......

23.

365

24.

Number of days on line 20 x *% x line 14 ..........................

24.

365

25. Interest on underpayment. Add lines 21 through 24 ........... 25.

26. Interest Due. Add line 25 columns A through D and enter the result here....................................................... 26.

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+ 0000 2021 63 01 27 4 Continue on Page 2.

2021 Form 4582, Page 2 of 2

FEIN or TR Number

PART 3: FIGURING PENALTY

BCD

27. Enter the amount from line 12 ........................................ 27.

28. Payment due dates from line 3 (MM-DD-YYYY) ............ 28.

29. Annual return due date or the date payment was made,

whichever is earlier ......................................................... 29.

30. Number of days from date on line 28 to date on line 29 . 30.

31.

If line 30 is greater than 0 but less than 61, multiply line 27 by 5% (0.05) .. 31.

32. If line 30 is greater than 60, but less than 91, multiply line 27 by 10% (0.10).. 32.

33.

If line 30 is greater than 90, but less than 121, multiply line 27 by 15% (0.15)..

33.

34.

If line 30 is greater than 120, but less than 151, multiply line 27 by 20% (0.20)..

34.

35. If line 30 is greater than 150, multiply line 27 by 25% (0.25) ...... 35.

36. Add lines 31 through 35.................................................. 36.

37. Total Penalty. Add line 36, columns A through D ......................................................................................................

37. 00

38.

Total Penalty and Interest. Add lines 26 and 37. Enter here and on Form 4567, line 68; or Form 4588, line 56;

or Form 4590, line 41

................................................................................................................................................ 38. 00

PART 4: ANNUALIZATION WORKSHEET FOR MODIFIED

GROSS RECEIPTS AND BUSINESS INCOME TAXES

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Complete worksheet if liability is not evenly distributed throughout year.

First 3 Months

First 6 Months

First 9 Months

Full 12 Months

39. Gross receipts (GR) ......................................................... 39.

40. Subtractions..................................................................... 40.

41. 0RGL¿HG*56XEWUDFWOLQHIURPOLQH ...................... 41.

42. Apportionment percentage from Form 4567, line 11c ..... 42.

%%%%

43. Apportioned GR Tax Base. Multiply line 41 by line 42 ..... 43.

44. Multiply line 43 by 0.8% (0.008) ...................................... 44.

45. Enrichment Prohibition for dealers of boats/new motor vehicles ... 45.

46.

GR Tax Before Credits. Enter the greater of lines 44 or 45

46.

47. Business Income (BI) ...................................................... 47.

48. Additions .......................................................................... 48.

49. Add lines 47 and 48 ......................................................... 49.

50. Subtractions..................................................................... 50.

51. BI Tax Base. Subtract line 50 from line 49 ....................... 51.

52. Apportioned BI Tax Base. Multiply line 51 by line 42 ....... 52.

53. MBT business loss carryforward ..................................... 53.

54. 4XDOL¿HG$ႇRUGDEOH+RXVLQJ'HGXFWLRQ .......................... 54.

55.

Subtract line 54 and line 53 from line 52.

If less than zero, enter zero

. ............................................. 55.

56.

BI Tax Before Credits. Multiply line 55 by 4.95% (0.0495)

56.

57. Total MBT Before Credits. Add lines 46 and 56 ............... 57.

58. The annual surcharge is no longer applicable.

There is no amount to be entered on this line ................. 58.

X X X X X X X X X X X X X X X X X X X X

59. Enter amount from line 57 ............................................... 59.

60. Nonrefundable Credits..................................................... 60.

61.

Subtract line 60 from line 59. If less than zero, enter zero

61.

62. Recapture of certain MBT credits and deductions ........... 62.

63. &RUSRUDWH,QFRPH7D[DGMXVWPHQWVHHLQVWUXFWLRQV ...... 63.

64. Net Tax Liability. Add lines 61, 62 and 63 ........................ 64.

65. Annualization ratios ......................................................... 65.

4 2 1.3333 1

66. Annualized tax. Multiply line 64 by line 65 ....................... 66.

67. Applicable percentage ..................................................... 67.

21.25% 42.5% 63.75% 85%

68. Multiply line 66 by line 67 ................................................ 68.

69.

Combined amounts of line 70 from all preceding columns

69. X X X X X

70.

ESTIMATE REQUIREMENTS BY QUARTER.

Subtract line 69 from line 68. If less than zero, enter zero.

Enter here and on page 1, line 4 ........................................

70.

NOTE: Totals on line 70 must equal 85% of the current year tax liability on page 1, line 1.

+ 0000 2021 63 02 27 2

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GLYLGH E\ WKH QXPEHU RI TXDUWHUO\ UHWXUQV UHTXLUHG DQG HQWHU

WKLVDVWKHHVWLPDWHGWD[IRUHDFKTXDUWHU

Actual Quarterly Tax ,I D WD[SD\HU FRPSXWHV TXDUWHUO\ WD[

Instructions for Form 4582, Michigan Business Tax (MBT)

Penalty and Interest Computation for Underpaid Estimated Tax

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Line 6:$PRXQW3DLG

• Column A:(QWHUHVWLPDWHGSD\PHQWVPDGHE\WKHGXHGDWH

IRU WKH ¿UVW TXDUWHUO\ UHWXUQ $OVR LQ FROXPQ $ HQWHU WKH

WRWDOUHIXQGDEOHFUHGLWVIURPOLQHRIWKHMBT Refundable

Credits)RUP RU OLQH  RIWKHMiscellaneous Credits

for Insurance Companies)RUP

• Column B: (QWHU SD\PHQWV PDGH DIWHU WKH GXH GDWH LQ

FROXPQ$DQGE\WKHGXHGDWHLQFROXPQ%

• Column C: (QWHU SD\PHQWV PDGH DIWHU WKH GXH GDWH LQ

FROXPQ%DQGE\WKHGXHGDWHLQFROXPQ&

• Column D: (QWHU SD\PHQWV PDGH DIWHU WKH GXH GDWH LQ

FROXPQ&DQGE\WKHGXHGDWHLQFROXPQ'

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PART 2: FIGURING INTEREST

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PART 3: FIGURING PENALTY

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DQGLQWHUHVWUDWHPLJKWQRWEHWKHVDPHIRUHDFKTXDUWHU

Avoiding Penalty and Interest Under MBT

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E\ UHPLWWLQJ D FKHFN ZLWK D Combined Return for Michigan

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PART 4: ANNUALIZATION WORKSHEET FOR

MODIFIED GROSS RECEIPTS AND BUSINESS

INCOME TAXES

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