Section 208.1447 - [Repealed 12/31/2031] Tax credit equal to 0.535 per cent of taxpayer's compensation(1) An eligible taxpayer may claim a credit against the tax imposed by this act equal to 1.0% of the taxpayer's compensation in this state, not to exceed $8,500,000.00.(2) If the amount of the credit allowed under this section exceeds the tax liability of the taxpayer for the tax year, that excess shall not be refunded and shall not be carried forward as an offset to the tax liability in subsequent tax years.(3) A taxpayer that claims a credit under this section shall not claim a credit under section 449.(4) As used in this section, "eligible taxpayer" means a taxpayer that meets all of the following conditions: (a) Operates at least 17,000,000 square feet of enclosed retail space and 2,000,000 square feet of enclosed warehouse space in this state.(b) Sells all of the following at retail:(i) Fresh, frozen, or processed food, food products, or consumable necessities.(ii) Prescriptions and over-the-counter medications.(iii) Health and beauty care products.(vi) Carbonated beverages.(vii) Beer, wine, or liquor.(c) Sales of the items listed in subdivision (b) represent more than 35% of the taxpayer's total sales in the tax year.(d) Maintains its headquarters operation in this state.Repealed by 2019, Act 90,s 7, eff. 12/31/2031.Repealed by 2011, Act 39,s 7, eff.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 2007, Act 145,s 13, eff. 1/1/2008.Added by 2007, Act 36,s 55, eff. 1/1/2008.Repealed effective 12/31/2031 -- Enacting section 1 of 2019, Act 90 provides: "The Michigan business tax act, 2007 PA 36, MCL 208.1101 to 208.1601, is repealed effective for tax years that begin after December 31, 2031."Contingent repeal -- See Enacting section 1 of 2011, Act 39,s 7