Section 208.1411 - Tax credit; gross receipts greater than $350,000.00 but less than $700,000.00.
MICHIGAN BUSINESS TAX ACT (EXCERPT)
Act 36 of 2007
208.1411 Tax credit; gross receipts greater than $350,000.00 but less than $700,000.00.
Sec. 411.
A taxpayer whose gross receipts allocated or apportioned to this state are greater than $350,000.00 but less than $700,000.00, may claim a credit against the tax imposed under this act equal to the tax liability after the credit under section 417 multiplied by a fraction the numerator of which is the difference between the person's allocated or apportioned gross receipts and $700,000.00 and the denominator of which is $350,000.00.
History: 2007, Act 36, Eff. Jan. 1, 2008
Compiler's Notes: Enacting section 1 of Act 36 of 2007 provides:"Enacting section 1. This act takes effect January 1, 2008 and applies to all business activity occurring after December 31, 2007."
Popular Name: MBT