Treasury is reviewing the recently enacted tax law changes, including the new Marijuana Wholesale Tax. Developing clear and accurate information for tax stakeholders is our top priority. This guidance will be posted to our website in the coming weeks.
13. Which tax year composite form should be used by a fiscal tax year flow-through entity?
The Michigan Composite Individual Income Tax Return (Form 807) is a calendar year individual income tax filing for two or more nonresident members. A fiscal year flow-through entity (FTE) will file a composite return for the calendar year in which the fiscal year ends. This will be a different year form than the FTE's federal return.
Example: A fiscal year FTE with a year-end of September 30, 2021 will file a 2021 composite return even though the FTE's federal filing will be a 2020 return.