Michigan PDF Forms

Michigan PDF Forms
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Documents used along the form

The Michigan 2796 form is a critical document for sellers seeking a refund of the State Real Estate Transfer Tax (SRETT). Along with this form, several other documents are often required to support the refund request. These documents provide essential information and evidence to substantiate the claim for exemption. Below is a list of common forms and documents that may accompany the Michigan 2796 form.

  • Recorded Deed: This document serves as proof of the property transfer and includes details such as the date of transfer and the parties involved. It must be submitted with the 2796 form to establish the legitimacy of the refund request.
  • Tax Statements: Copies of tax statements related to the property are necessary to demonstrate the payment of the SRETT. These statements help verify the amount of tax paid and the property’s assessment value.
  • Texas Real Estate Purchase Agreement: Being familiar with the legalpdf.org/ form is essential for anyone involved in buying or selling property in Texas, as it outlines all necessary conditions of the transaction.
  • Principal Residence Exemption Documentation: If claiming an exemption under specific criteria, documentation proving that the property qualified for the Principal Residence Exemption is required. This can include forms or letters from local tax authorities.
  • Proof of Sales Price: Sellers must provide evidence of the sales price of the property, which can include the purchase agreement or settlement statement. This information is crucial to ensure compliance with the exemption criteria.
  • Real Estate Transfer Tax Valuation Affidavit (Form L-4258): This form is used to affirm the value of the property at the time of sale. It is particularly relevant for substantiating claims related to the SRETT refund.
  • Proof of SEV: Sellers may need to submit documentation showing the State Equalized Value (SEV) of the property for both the year of sale and the year of purchase. This is essential for demonstrating eligibility for certain exemptions.

Submitting the Michigan 2796 form along with the appropriate supporting documentation is vital for a successful refund request. Ensure that all required documents are accurate and complete to avoid delays in processing. The Michigan Department of Treasury is available to assist with any questions regarding the application process.

Michigan 2796 Preview

Michigan Department of Treasury 2796 (Rev. 08-12)

Application for State Real Estate Transfer Tax (SRETT) Refund

Issued under authority of Public Act 330 of 1993.

When a Seller of property pays the SRETT to a County Treasurer, and later determines that the sale (transfer) of the property qualiies

for exemption under MCL 207.526 (see Page 2), the Seller(s) may request a refund of the SRETT paid to a County Treasurer from the

Michigan Department of Treasury by iling this form and submitting documentary evidence to support the refund request. This form must be iled within four years and 15 days from the date of sale or transfer of the property.

Type or print in blue or black ink.

PART 1: IDENTIFICATION

Name(s) of ALL Seller(s) - (refund check will be made payable to ALL seller(s) as listed on the recorded deed)

Social Security or Federal ID Number(s) of ALL Seller(s)

Address where refund check is to be mailed

City and State

ZIP Code

Telephone Number

PART 2: BASIS FOR EXEMPTION: (see Page 2 for list of exemptions)

State Exemption Being Claimed Under PA 330 of 1993, as Amended

Amount of SRETT Refund Requested

PART 3: RECORDED DEED

Date of Transfer of Property (MM/DD/YYYY)

Tax Parcel/Sidwell ID Number

Taxing Entity (City, Township, Village)

PART 4: REQUIRED DOCUMENTATION

Attach a copy of the recorded deed, copies of tax statements or other appropriate documentation to support your refund request.

Please note that to qualify for a refund of the SRETT under “u”, (1) the SEV of the property in the year of sale must be equal to or less than the SEV in the year of purchase; (2) the property must qualify for 100% Principal Residence Exemption and, (3) the sales price of

the property cannot exceed the true cash value of the property in the year of sale. (For additional information, please refer to Attorney

General Opinion No. 7214, available at www.michigan.gov/ag). If claiming exemption under “u”, please submit ALL of the following:

1.Proof of date of purchase/SEV in year of purchase

2.Proof of date of sale/SEV in year of sale

3.Proof that property qualiied for the Principal Residence Exemption

4.Proof of SRETT paid to Register of Deeds (copy of recorded deed containing Real Estate Transfer Tax stamp, oficial receipt from county treasurer, or form L-4258, Real Estate Transfer Tax Valuation Afidavit)

5.Proof of sales price of property

PART 5: SELLER’S CERTIFICATION

I declare under penalty of perjury that the information on this form and attachments is true and complete to the best of my knowledge.

Signature(s) of ALL Seller(s)

Date

Questions may be directed to Treasury’s Technical Services Section at 517-636-4230. Assistance is available using TTY through the

Michigan Relay Service by calling 1-800-649-3777 or 711. Please allow 4 – 6 weeks for processing.

MAILING INSTRUCTIONS: Mail this application and copies of supporting documentation to:

Michigan Department of Treasury

Technical Services Section

P.O. Box 30698

Lansing, MI 48909-8198

TREASURY USE ONLY

Reviewed by

Treasury Approval Signature

Printed Name

Title

Date

Amount Approved for Refund

2796, Page 2

Exemptions to State Real Estate Transfer Tax (SRETT)

 

Under Section 6 of PA 330 of 1993, as amended, you may claim an exemption from the SRETT for one of the reasons listed below. Enter the section number for the exemption you are claiming in Part 2 of form 2796.

(a)A written instrument in which the value of the consideration for the property is less than $100.00.

(b)A written instrument evidencing a contract or transfer that is not to be performed wholly within this state only to the extent the written instrument includes land lying outside of this state.

(c)A written instrument that this state is prohibited from taxing under the United States constitution or federal statutes.

(d)A written instrument given as security or an assignment or discharge of the security interest.

(e)A written instrument evidencing a lease, including an oil and gas lease, or a transfer of a leasehold interest.

(f)A written instrument evidencing an interest that is assessable as personal property.

(g)A written instrument evidencing the transfer of a right and interest for underground gas storage purposes.

(h)Any of the following written instruments:

(i)A written instrument in which the grantor is the United States, this state, a political subdivision or municipality of this state, or an oficer of the United States or of this state, or a political subdivision or municipality of this state, acting in his or her oficial capacity.

(ii)A written instrument given in foreclosure or in lieu of foreclosure of a loan made, guaranteed, or insured by the United States, this state, a political subdivision or municipality of this state, or an oficer of the United States or of this state, or a political subdivision or municipality of this state, acting in his or her oficial capacity.

(iii)A written instrument given to the United States, this state, or 1 of their oficers acting in an oficial capacity as grantee, pursuant to the terms or guarantee or insurance of a loan guaranteed or insured by the grantee.

(i)A conveyance from a husband or wife or husband and wife creating or disjoining a tenancy by the entireties in the grantors or the grantor and his or her spouse.

(j)A conveyance from an individual to that individual’s child, stepchild, or adopted child.

(k)A conveyance from an individual to that individual’s grandchild, step-grandchild, or adopted grandchild.

(l)A judgment or order of a court of record making or ordering a transfer, unless a speciic monetary consideration is speciied or ordered by the court for the transfer.

(m)A written instrument used to straighten boundary lines if no monetary consideration is given.

(n)A written instrument to conirm title already vested in a grantee, including a quitclaim deed to correct a law in title.

(o)A land contract in which the legal title does not pass to the grantee until the total consideration speciied in the contract has been paid.

(p)A conveyance that meets 1 of the following:

(i)A transfer between any corporation and its stockholders or creditors, between any limited liability company and its members or creditors, between any partnership and its partners or creditors, or between a trust and its beneiciaries or creditors when the transfer

is to effectuate a dissolution of the corporation, limited liability company, partnership, or trust and it is necessary to transfer the title of real property from the entity to the stockholders, members, partners, beneiciaries, or creditors.

(ii)A transfer between any limited liability company and its members if the ownership interests in the limited liability company are held by the same persons and in the same proportion as in the limited liability company prior to the transfer.

(iii)A transfer between any partnership and its partners if the ownership interests in the partnership are held by the same persons and in the same proportion as in the partnership prior to the transfer.

(iv)A transfer of a controlling interest in an entity with an interest in real property if the transfer of the real property would qualify for exemption if the transfer had been accomplished by deed to the real property between the persons that were parties to the transfer of the controlling interest.

(v)A transfer in connection with the reorganization of an entity and the beneicial ownership is not changed.

(q)A written instrument evidencing the transfer of mineral rights and interests.

(r)A written instrument creating a joint tenancy between 2 or more persons if at least 1 of the persons already owns the property.

(s)A transfer made pursuant to a bona ide sales agreement made before the date the tax is imposed under sections 3 and 4, if the sales agreement cannot be withdrawn or altered, or contains a ixed price not subject to change or modiication.

(t)A written instrument evidencing a contract or transfer of property to a person suficiently related to the transferor to be considered a single employer with the transferor under section 414(b) or (c) of the internal revenue code of 1986, 26 USC 414.

(u)A written instrument conveying an interest in property for which an exemption is claimed under section 7cc of the general property tax act,

1893 PA 206, MCL 211.7cc, if the state equalized valuation of that property is equal to or lesser than the state equalized valuation on the date of purchase or on the date of acquisition by the seller or transferor for that same interest in property. If after an exemption is claimed under this subsection, the sale or transfer of property is found by the treasurer to be at a value other than the true cash value, then a penalty equal to

20% of the tax shall be assessed in addition to the tax due under this act to the seller or transferor.

(v)A written instrument transferring an interest in property pursuant to a foreclosure of a mortgage including a written instrument given in lieu of foreclosure of a mortgage. This exemption does not apply to a subsequent transfer of the foreclosed property by the entity that foreclosed on the mortgage.

(w)A written instrument conveying an interest from a religious society in property exempt from the collection of taxes under section 7s of the general property tax act, 1893 PA 206, MCL 211.7s, to a religious society if that property continues to be exempt from the collection of taxes under section 7s of the general property tax act, 1893 PA 206, MCL 211.7s.

Similar forms

  • Form 1040: This is the standard individual income tax return form used by U.S. taxpayers. Similar to the Michigan 2796 form, it allows individuals to claim deductions and credits, which can lead to a refund based on overpayment of taxes.
  • Form 843: This is used to claim a refund or request an abatement of certain taxes. Like the Michigan 2796, it requires the taxpayer to provide specific reasons for the refund and supporting documentation.
  • Form 8862: This form is used to claim the Earned Income Tax Credit after it has been denied in a previous year. It parallels the Michigan 2796 in that it requires proof of eligibility for the credit or refund being sought.
  • Form 1120: This is the U.S. Corporation Income Tax Return. Corporations can use it to report their income and claim refunds for overpaid taxes, similar to how sellers claim refunds on the Michigan 2796.
  • Hold Harmless Agreement: This form is essential in protecting parties from liability during events or activities, offering clarity and understanding in agreements. For more information, visit Forms Georgia.
  • Form 941: This is used by employers to report income taxes, Social Security tax, or Medicare tax withheld from employee's paychecks. It shares a commonality with the Michigan 2796 in that both forms deal with tax refunds and require documentation to support claims.
  • Form W-2: This form reports annual wages and the taxes withheld from them. While it does not directly request a refund, it provides necessary information for individuals filing tax returns, akin to the documentation required for the Michigan 2796.
  • Form 1099: This form is used to report various types of income other than wages, salaries, and tips. Like the Michigan 2796, it may require supporting documentation for tax purposes, especially when claiming refunds.
  • Form 4506-T: This form allows taxpayers to request a transcript of their tax return. Similar to the Michigan 2796, it is often used to verify information for tax refund claims.

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Misconceptions

Understanding the Michigan 2796 form can be challenging, and several misconceptions may lead to confusion. Here are five common misunderstandings about this form:

  • Misconception 1: The Michigan 2796 form can be filed at any time after the sale.

    • This is not true. The form must be filed within four years and 15 days from the date of the sale or transfer of the property. Missing this deadline can result in the inability to receive a refund.

  • Misconception 2: Only first-time sellers can request a refund.

    • This is incorrect. Any seller who has paid the State Real Estate Transfer Tax (SRETT) and believes they qualify for an exemption under the specified laws can file for a refund, regardless of their selling history.

  • Misconception 3: No documentation is required to support the refund request.

    • On the contrary, it is essential to attach supporting documentation, such as a copy of the recorded deed and proof of tax statements. Without proper documentation, the request may be denied.

  • Misconception 4: The refund check will be issued to the individual seller only.

    • This is misleading. The refund check will be made payable to all sellers listed on the recorded deed. This means that all parties involved in the sale must be accounted for in the refund process.

  • Misconception 5: Any exemption can be claimed without specific criteria.

    • This is not accurate. Each exemption has specific criteria that must be met. For example, if claiming exemption under section “u,” the seller must provide evidence that the property meets certain valuation requirements.

Detailed Instructions for Using Michigan 2796

Filling out the Michigan 2796 form is a straightforward process that allows sellers to request a refund of the State Real Estate Transfer Tax (SRETT) when they qualify for an exemption. To ensure a smooth experience, follow the steps outlined below carefully.

  1. Gather necessary information: Collect all relevant details about the property sale, including the names and Social Security or Federal ID numbers of all sellers, the address where the refund check should be mailed, and the contact information.
  2. Complete Part 1: Fill in the names of all sellers as they appear on the recorded deed. Include Social Security or Federal ID numbers, mailing address, city, state, ZIP code, and telephone number.
  3. Identify the exemption: In Part 2, indicate the specific exemption being claimed under PA 330 of 1993, as amended. Enter the amount of the SRETT refund you are requesting.
  4. Fill in property details: In Part 3, provide the date of the property transfer, the Tax Parcel/Sidwell ID number, and the taxing entity (City, Township, or Village).
  5. Prepare required documentation: Attach copies of the recorded deed, tax statements, and any other documentation that supports your refund request. If claiming exemption under section “u,” ensure you include all required proofs listed in the instructions.
  6. Sign and date: In Part 5, all sellers must sign the form and date it, certifying that the information provided is true and complete to the best of their knowledge.
  7. Mail the application: Send the completed form and supporting documents to the Michigan Department of Treasury, Technical Services Section, at the provided address.

After submitting the form, it typically takes 4 to 6 weeks for processing. If you have questions, don’t hesitate to reach out to the Treasury’s Technical Services Section for assistance.

Dos and Don'ts

When filling out the Michigan 2796 form for a State Real Estate Transfer Tax refund, there are important dos and don'ts to keep in mind. Following these guidelines can help ensure your application is processed smoothly.

  • Do fill out the form completely and accurately. Include all required information such as names, addresses, and identification numbers.
  • Do use blue or black ink when completing the form. This ensures that your application is legible and easy to process.
  • Do attach all necessary documentation. This includes copies of the recorded deed and tax statements to support your refund request.
  • Do mail your application within the specified timeframe. Remember, you must submit it within four years and 15 days from the date of sale.
  • Do keep a copy of your completed form and all attachments for your records. This can be helpful if you need to follow up on your application.
  • Don't leave any sections blank. Incomplete forms may be rejected or delayed.
  • Don't submit original documents unless specifically requested. Always provide copies to avoid losing important paperwork.
  • Don't forget to sign and date the form. Your signature is a declaration of the truthfulness of the information provided.
  • Don't use any ink color other than blue or black. Other colors may not be accepted and could lead to processing issues.
  • Don't hesitate to reach out for assistance if you have questions. The Michigan Department of Treasury is available to help you.