Mich. Comp. Laws § 206.30a

Current through Public Act 156 of the 2024 Legislative Session

Section 206.30a - Taxable income; adjustment

Notwithstanding any other provision of this part, for the 2012 tax year and each tax year after 2012 through the 2021 tax year, taxable income for purposes of this part means taxable income as determined under section 30 with the following adjustment. For the 2012 tax year and each tax year after 2012 through the 2021 tax year, to determine taxable income, a taxpayer shall claim a personal exemption deduction equal to the amount calculated pursuant to section 30(2) or equal to the following amounts multiplied by the number of personal and dependency exemptions allowable under section 30(2), whichever calculation is greater:

(a) Beginning on and after October 1, 2012 and before January 1, 2014, $3,950.00. The department shall annualize the personal exemption deduction for the 2012 tax year, rounded to the nearest $1.00.

(b) Beginning on and after January 1, 2014 and before January 1, 2018, $4,000.00.

(c) For the 2018 tax year, $4,050.00.

(d) For the 2019 tax year, $4,400.00.

(e) For the 2020 tax year, $4,750.00.

(f) For the 2021 tax year, $4,900.00.

MCL 206.30a

Amended by 2018, Act 38,s 4, eff. 2/28/2018.

Added by 2012, Act 224,s 1, eff. 6/29/2012.

Fromer section 206.30a was repealed by 1996, Act 484, Eff. Jan. 1, 1997.