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FAQ
  Corporate Income Tax
Insurance Companies/Financial Institutions 2. Does the $100 liability threshold apply to insurance companies and financial institutions?
 
Answer:

Yes.  Section 685 of 2011 PA 38 provides for a filing threshold and a liability threshold, stating:

a taxpayer, other than a taxpayer subject to the tax imposed under chapter 12 or 13, whose apportioned or allocated gross receipts are less than $350,000.00 does not need to file a return or pay the tax imposed under this part A taxpayer whose tax liability under this part is less than or equal to $100.00 does not need to file a return or pay the tax imposed under this part.

This section clearly excludes insurance companies and financial institutions from the $350,000 filing threshold but does not similarly limit the liability threshold.  Therefore, an insurance company or financial institution with an annual liability of $100 or less is not required to file a CIT annual return or pay the tax.