Michigan Laws 208.1411 – Tax credit; gross receipts greater than $350,000.00 but less than $700,000.00
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 208.1411
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
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.