Mich. Comp. Laws § 208.1405

Current through Public Act 151 of the 2024 Legislative Session

Section 208.1405 - [Repealed 12/31/2031] Taxpayer's research and development expenses; tax credit; limitation; definition

For the 2008 tax year, a taxpayer may claim a credit against the tax imposed by this act equal to 1.52% of the taxpayer's research and development expenses in this state in the tax year. For the 2009 tax year and each tax year after 2009, a taxpayer may claim a credit against the tax imposed by this act equal to 1.90% of the taxpayer's research and development expenses in this state in the tax year. The credit under this section combined with the total combined credit allowed under section 403 shall not exceed 65% of the tax liability imposed under this act before the imposition and levy of the surcharge under section 281. As used in this section, "research and development expenses" means qualified research expenses as that term is defined in section 41(b) of the internal revenue code.

MCL 208.1405

Repealed by 2019, Act 90,s 7, eff. 12/31/2031.

Repealed by 2011, Act 39,s 7, eff. on the date that the secretary of state receives a written notice from the department of treasury that the last certificated credit or any carryforward from that certificated credit has been claimed.

Amended by 2011, Act 305,s 3, eff. 12/27/2011.

Amended by 2007, Act 145,s 9, eff. 1/1/2008.

Added by 2007, Act 36,s 33, eff. 1/1/2008.

See 2011, Act 305, s 6.

Repealed effective 12/31/2031 -- Enacting section 1 of 2019, Act 90 provides: "The Michigan business tax act, 2007 PA 36, MCL 208.1101 to 208.1601, is repealed effective for tax years that begin after December 31, 2031."

Contingent repeal -- See Enacting section 1 of 2011, Act 39,s 7