Michigan Personal Property Tax

Alerts and notices

The UltraTax/Michigan Personal Property Tax application supports 1040, 1041, 1065, 1120, 1120S, and 990 entities. It prepares the local property tax returns from depreciation data entered in the Asset Detail dialog.

Michigan forms and schedules

  • Form 632 (formerly L-4175) - Personal Property Statement
  • Form 5076 - Affidavit of Owner of Eligible Personal Property Claiming Exemption from Collection of Taxes
  • 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)
  • **Form 5328 - Essential Services Assessment Annual Return
  • Form 5352 - E-file Authorization for the Essential Services Assessment (ESA)
  • Form 2698 - Idle Equipment, Obsolete Equipment, and Surplus Equipment Report
  • Form 3966 - Taxpayer Report of Personal Property "move-ins" of used equipment
  • *Form 3589 - Cable Television and Utility Personal Property Report
  • *Form 3427 - Application for Exemption of New Personal Property
  • *Form 3595 - Itemized Listing of Daily Rental Property
  • *Form 3612 - Itemized Listing of Daily Rental Property (for Additional Reporting)
  • *Form 4226 - Affidavit Filed by a Qualified Start-up Business for Claiming Property Tax Exemption
  • *Form 4452 - Cellular (Wireless) Site Equipment Personal Property Report
  • *Form 5201 - Taxpayer Report of Personal Property Which Will Be Claimed as Eligible Personal Property
  • *Form 5467 - Election of Lessee Report of Eligible Manufacturing Personal Property

* Non-calculating form

** Form 5328 is the only form which can be filed electronically, and it must be electronically filed or filed on the Michigan Treasury Online website.

Depreciation treatments required for all MI PPT assets

The Book or MI treatment must be entered for Michigan Personal Property Tax returns. By default, the Book treatment transfers to the return. However, if the Complete return using the MI treatment within the Asset module field is marked on Screen Gen in the General folder for UltraTax/Michigan Personal Property Tax, the MI treatment will transfer to the return.

Note: If you previously entered depreciation data for only the Tax treatment, you can copy asset data from the Tax treatment to the Book treatment or to the MI treatment.

Associations required for all MI PPT assets

  • Situs: Each asset must have Michigan selected in the Situs field to transfer to the Michigan Personal Property Tax return.
  • Location ID#: Enter the parcel number for the location filing the property tax return. A property tax return is created for each Location ID# entered. This information transfers to the Parcel Number field on Form 632, Form 5076, Form 5278, Form 5277, and Form 5328. The maximum number of characters that transfer is 20.
  • City - MI (For UltraTax CS 2015 and prior years): Select the city the asset is located in from the drop-down list. UltraTax CS uses this information to determine an approximate tax rate for the filing instructions. (For UltraTax CS 2015 and prior years.)

    Note: The associations listed above are maintained by UltraTax CS and Fixed Assets CS and cannot be modified.

  • PPT type - MI: Select the appropriate personal property type for the asset from the drop-down list. Assets with the following property types transfer to Form 632 if the Qualified for Essential Services Assessment return field is marked on Screen MLGen or MLReturn in UltraTax CS.
    • Section A - Furniture & fixtures
    • Section B - Machinery & equipment
    • Section C - Rental videotapes & games
    • Section D - Office, electronic, video, & testing equip
    • Section E - Consumer coin operated equipment
    • Section F - Computer equipment
    • Section H - Assessable tooling
    • Section M - Leasehold improvements
    • Special tools to be excluded
    • X - Exempt - certificate

    Note: The associations listed above are maintained by UltraTax CS and Fixed Assets CS and cannot be modified. If the association fields are left blank or X - Exempt is selected, the asset will not transfer to Form 632.

Additional associations for MI PPT assets

  • License/reg/cert date: Enter the license/reg/cert date for assets that are exempt with a certificate. This information transfers to Form 632, Page 1, line 2.
  • License/reg/cert#: Enter the license/reg/cert# for assets that are exempt with a certificate. This information transfers to Form 632, Page 1, line 2. The maximum number of characters that transfer is 20.
  • Orig acq cost (used): Enter the original cost for a used asset. For this information to properly transfer, you must designate the asset as used in the Asset Detail dialog.
  • Orig date in svc (used): Enter the original date in service for a used asset. For this information to properly transfer, you must designate the asset as used in the Asset Detail dialog.
  • STC Multiplier - MI: Enter the STC Multiplier for assets that are coded as PPT type - MI Section M - Leasehold improvements.

    Note: The list for this association is not maintained by UltraTax CS and Fixed Assets CS and can be modified. The information entered must be numeric and may include a decimal with up to two places.

  • Report on 2698-MI: Mark this checkbox to indicate the asset is idle, obsolete, or surplus equipment.
  • Move-Ins - MI: Mark this checkbox to indicate the asset is categorized as "Move-Ins" used equipment for Form 3966.

See also

Entering de minimis assets

UltraTax CS personal property tax returns

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