Yes,a Michigan Business Tax (MBT) annual return must be filed after the tax
year of the film production company to whom the film production credit agreement
was issued has ended. Annual returns are due "by the last day of the fourth
month after the end of the taxpayer's tax year."
The film production credit is a business tax credit; thus,a tax refund,and not a
rebate check,will be issued. Once the production company has completed all
production related work in Michigan,it must request a post-production
certificate from the Michigan Film Office. After all submitted expenditures have
been certified to qualify for the credit,the Film Office will issue the
certificate,which sets forth the dollar amount of the credit. The production
company must file an MBT return to claim its credit,attaching a copy of the
post-production certificate to its tax return. MCL 208.1455(7). Error-free
returns claiming refundable film production credits are expected to be processed
in 3 ? 4 weeks.
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