Get Michigan 173 Form

The Michigan 173 Form is essential for wholesalers aiming to claim credit for prepaid sales tax on fuel. Completing this form accurately helps ensure compliance with state tax requirements while allowing for possible tax credits. This guide provides a comprehensive walkthrough for filling out the form online.

Follow the steps to complete the Michigan 173 Form online

1. Press the ‘Get Form’ button to obtain the Michigan 173 Form and open it in your preferred editor.
2. In Part 1: Return Information, enter your account number in line 1. This number is vital for identification.
3. In line 2, provide the registered business name as per your official documents.
4. Fill in your business address on line 3. This should include the street address, city, state, and ZIP code.
5. For line 4, specify the return period by indicating the month and year that this credit applies to.
6. Line 5 should contain the total amount due, sourced from the discount voucher (Form 161) or combined return (Form 160).
7. In line 6a, enter the prior month ending fuel inventory on which tax was prepaid. Include separate quantities for gasoline and diesel fuel in the provided fields.
8. Continue to line 6b and report any purchases on which tax was prepaid to the state during the return period. Check the box if any deliveries were made to out-of-state locations, and provide the corresponding gallons for gasoline and diesel.
9. In line 6c, calculate the total for lines 6a and 6b.
10. For line 6d, enter the ending fuel inventory for both wholesale and retail for the return period.
11. In line 6e, determine the adjusted prepayments by subtracting line 6d from line 6c.
12. Report the amount of prepaid tax recovered on sales to wholesalers or retailers in line 7. Include the quantities for gasoline and diesel.
13. Calculate the net amount prepaid in line 8 by subtracting line 7 from line 6e.
14. For line 9, enter the sales tax collections discount if applicable. Note the conditions for discount eligibility.
15. Add lines 8 and 9 together in line 10.
16. Finally, calculate the net payment due in line 11 by subtracting line 10 from line 5, ensuring that any negative amounts are handled correctly.
17. Review your completed form for accuracy, then choose to save changes, download, print, or share the finished document as needed.

Complete your Michigan 173 Form online today to ensure timely filing and potential tax credit eligibility.