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Free Michigan 777 Template in PDF

The Michigan 777 form is a document used by residents of Michigan to claim a credit for taxes imposed by a Canadian province. This form is issued under Public Act 281 of 1967 and is voluntary for taxpayers. It provides a structured process for converting Canadian wages and taxes into U.S. currency and calculating the appropriate tax credit.

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Structure

The Michigan 777 form, also known as the Resident Credit for Tax Imposed by a Canadian Province, is a crucial document for individuals who have income subject to taxation in both Michigan and Canada. This form, issued by the Michigan Department of Treasury, allows residents to claim a credit for taxes paid to Canadian provinces, thereby mitigating the potential for double taxation. Filing this form is voluntary and pertains to tax year calculations under Public Act 281 of 1967. The form consists of several parts that guide taxpayers through the process of converting Canadian wages and taxes into U.S. currency, computing Michigan tax liabilities, and determining the allowable credit for taxes paid to Canadian provinces. Key components include the conversion of Canadian income, adjustments for U.S. tax calculations, and specific calculations to arrive at the credit amount. Completing the Michigan 777 form accurately is essential for ensuring that taxpayers receive the appropriate credits and do not overpay their tax obligations. It requires careful attention to detail, as various lines need to be filled out based on the taxpayer's specific financial situation, including income from Canadian sources and applicable deductions.

Form Example

Michigan Department of Treasury, ITD

777 (Rev. 1-01), Formerly C-4402 RC

RESIDENT CREDIT FOR TAX IMPOSED

BY A CANADIAN PROVINCE	For Tax Year
Issued under P.A. 281 of 1967. Filing is voluntary.	2000

Name(s) as shown on your MI-1040	Social Security Number

Address, City, State and ZIP	Spouse's Social Security Number

PART 1

CONVERSION OF CANADIAN WAGES AND TAXES TO UNITED STATES CURRENCY

1.	Canadian income taxed by Michigan	1.
		1.
2.	Fringe benefits included in Box 14 of the T-4, not taxable in U.S.A.	2.
		2.
3.	Subtract line 2 from line 1	3.
		3.
4.	Multiply line 3 by the annualized conversion rate of 67.40% (.6740) (see inst.)
5.	Total Canadian income from line 150 of your Canadian income tax return	5.
		5.

6.Multiply line 5 by the conversion rate of 67.40% (.6740)

7.Divide line 4 by line 6 (percentage of Canadian income taxed by Michigan to total Canadian income)

8.Multiply the Canadian federal tax (line 420 of Canadian return)

	$__________________by the conversion rate of 67.40% (.6740)	8.
		8.
9.	Multiply line 8 by line 7
10.	Multiply the provincial tax (line 428 of Canadian return)
	$_____________ by the conversion rate of 67.40% (.6740)	10.
11.	Multiply line 10 by line 7
12.	Contribution to Canadian Pension Plan from T-4, Boxes 16 and 17	12.
13.	Multiply line 12 by the conversion rate of 67.40% (.6740)

7.%

11.

13.

PART 2 COMPUTATION OF MICHIGAN TAX

14.Adjusted gross income from MI-1040, line 10

15.Canadian income taxed by Michigan from line 4, above

16.U.S. adjustments to Canadian wages (from U.S. 1040 lines 23 -31a)

17.Subtract line 16 from line 15

18.Subtract line 17 from line 14 for Michigan source income

19.Additions from MI-1040, line 11

20.Add lines 17, 18 and 19

21.Subtractions from MI-1040, line 13

22.Subtract line 21 from line 20 for income subject to tax

23.Divide line 17 by line 22 for percentage of Canadian income to

total income subject to tax

24.Exemption allowance from MI-1040, line 15

25.Subtract line 24 from line 22 for taxable income

26.Multiply line 25 by the Michigan tax rate of 4.2% (.042)

14.

15.

16.

17.

18.

19.

20.

21.

22.

23.%

24.

25.

26.

PART 3 ALLOWABLE CREDIT FOR TAX PAID CANADIAN PROVINCE

27.	Multiply line 26 by line 23 for Michigan tax on Canadian province income
28.	Add lines 9, 11 and 13 for total tax paid in Canada		28.
29.	Adjustments to credit claimed on U.S. 1040:
	29a.	Canadian portion of credit claimed on U.S. 1040, line 43	29a.
	29b.	Canadian income taxed by Michigan from all U.S. 1116 forms	29b.
	29c.	Gross Canadian income from all U.S. 1116 forms	29c.
	29d.	Divide line 29b by line 29c and enter percentage	29d.
	29e.	Multiply line 29a by line 29d for adjusted
		amount claimed on U.S. 1040	29e.

30.Subtract line 29e from line 28 for amount available for credit on MI-1040

31.Canadian provincial tax from line 11. Enter here and on form MI-1040, line 23a

32.Credit for tax paid Canadian province (lesser of lines 27, 30 or 31). Enter here and on form MI-1040, line 23b

27.

30.

31.

32.

ATTACH THIS FORM TO YOUR MI-1040 RETURN

▼ Michigan 777 PDF Form

Document Specs

Fact Name	Details
Form Title	Michigan Department of Treasury, ITD 777
Previous Designation	Formerly known as C-4402 RC
Purpose	To claim a resident credit for tax imposed by a Canadian province
Governing Law	Issued under Public Act 281 of 1967
Filing Status	Filing is voluntary for taxpayers
Tax Year Reference	Applicable for the tax year specified on the form

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