MI Form 5472 2023-2025

MI Form 5472: What You Should Know

The “Motor Vehicle Safety Act”. 2018 Michigan Revised Statutes. See a full listing of links to resources in my new book:  Chapter 15, “Regulated Transportation”; Chapter 23, Michigan Vehicle Code. The law was proposed in the 2025 regular session. It passed both houses in April 2025 and was signed by Gov. Snyder. The new law was effective April 1, 2018. (Gov. Snyder did not seek the governor's signature.) Under the law, companies with a foreign ownership or a foreign business will only be allowed to get a credit of 25% if they file Form 6038A, and they must file an Information Return of a 25% Foreign. If they file Form 5472 instead of Form 6038A, then they will only be allowed to get a credit of 25% of the total taxes paid on these payments. Form 5472 has been in effect since Dec. 28, 2017, when SB 5472 (Snyder's 2025 state budget) was enacted. 2.14.2 In 2018, Form 5472 will be the same as Form 6038, with only two changes: Section 6010 changes and the removal of information about sales taxes. (The change appears to be based on information the state received, and not a revision of Form 6038.) Michigan's Income Tax E-filed Calendar 2.14.3 The 2025 Michigan Income Tax E-file Calendar for Tax Year 2025 is available on the state income tax website. There will be a special “Filing Deadline” on Dec. 26. Please remember that you have until Dec. 27 to file Form 5472. A full list of links to income tax documents and resources for preparing your tax return is on the following page. 2.19.1.1 What Does the State Tax Calculation for Distributions to U.S. Persons Include? Under the new law, all the foreign income from Michigan companies may be considered “regular income” in Michigan. All the foreign income from U.S. persons (such as foreign direct investment) will not be excluded or amortized as “disappeared income”. Foreign sources of income like dividends, interest or royalties are subject to state taxes on that income. What is normal for a U.S. company would be a significant change to the current system. The law specifically allows for these adjustments to be made.

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