Mais conteúdo relacionado Semelhante a Michigan Business Tax Case Study (20) Michigan Business Tax Case Study1. Industry Group Case Studies The Real World Concepts of MBT Taxation and Related Unitary Concepts December 10, 2009 by Michael D. Bozimowski and Sam Hodges 4. Inventory "Inventory" is stock of goods held for resale (retailer/wholesaler), Finished Goods, WIP, & Raw Materials (Manu) "Inventory" acquired during the year 41,261 41,261 40,261 14,500 11,500 What is subtraction for "Inventory"? 40,261 40,261 40,261 Cost of Goods Sold 1,000 1,000 End of Year (FG) 41,261 Sub-total 777 777 Other 1,234 1,234 263A 24,750 24,750 WIP 11,500 11,500 11,500 11,500 Raw Materials Purchases 3,000 3,000 3,000 Beg of Year E D C B A Inventory Analysis 13. 313 8,042 5,342 (625) 13,971 Modified Gr Receipts Tax - Watercraft/Vehicles GRT 313 8,042 5,342 (625) 13,971 Tax @ .8% 39,126 1,005,190 667,716 (78,126) 1,746,364 Sub-Total - - - - - Usable SBT Loss C/F (65%) - Prior Year SBT Loss C/F 39,126 1,005,190 667,716 (78,126) 1,746,364 Apportioned Gr Receipts 100.% 32.7932% 15.4909% 100% 23.8034% Apportionment 39,126 3,065,238 4,310,377 (78,126) 7,336,615 Modified Gross Receipts - -Miscellaneous - -Contractors 15, 16, 17 - -Staffing company (10,000) (100,000) (200,000) (310,000) -Materials and Supplies (29,000) (632,000) (466,000) (1,127,000) -Depreciable Assets Acqd (3,143,016) (2,529,380) (5,672,396) -Inventory Acquired 78,126 6,940,254 7,505,757 (78,126) 14,446,011 Gross Receipts 78,126 6,940,254 7,505,757 (78,126) 14,446,011 Total Sales 78,126 2,275,933 1,162,709 (78,126) 3,438,642 Michigan Sales Co 3 Co 2 Co 1 Elim UBG Michigan Business Tax 14. 1,046 10,522 13,583 28,577 Liability Before Credits 189 1,897 2,448 5,151 Surcharge @ 21.99% 858 8,625 11,135 23,426 Total MBT Before Surcharge 545 584 5,793 - 9,455 Income Tax @ 4.95% 11,000 11,795 117,027 - 191,005 Business Income Tax Base - -Affordable Housing Deduct - -MBT Loss C/F 11,000 11,795 117,027 - 191,005 Apportioned Business Inc 100% 32.7932% 15.4909% 100% 23.8034% Apportionment 11,000 35,969 755,459 - 802,428 Business Income Tax Base - -Net Earnings from S/E - -US Interest Income - -Inc from non UBG flowthru - -Fgn Div & Royalties - +Non UBG Intangible Exp - +Loss from non UBG flowthr - +Federal NOL C/B C/F 1,000 10,000 15,000 26,000 +MBT/SBT Taxes - +Taxes Measured by Income - +Muni Interest/Dividends 10,000 25,969 740,459 776,428 Business Income Co 3 Co 2 Co 1 Elim UBG Michigan Business Tax 15. - -Small Business - -Research & Development (673) (14,662) (10,811) 12,598 (13,548) -Investment (222) (370) (888) 740 (740) -Compensation - -SBT Credit Non-Refundable Credits Co 3 Co 2 Co 1 Elim UBG Michigan Business Tax Notas do Editor In theory, Gross Receipts less cost of inventory = tax base on VALUE ADDED…