Michigan HB4124 provides a tax credit for research and development expenses related to advanced small modular reactors.

Michigan HB4124 amends the state's corporate income tax law to introduce a tax credit for qualified research and development expenses related to advanced nuclear reactor technologies. Beginning in 2026, taxpayers and employers can claim a credit equal to 15% of their qualified research and development expenses. The credit is subject to an annual cap of $2,500,000. If the total claims exceed this cap, the credits will be prorated equally among claimants. The credit can be carried forward for up to 15 years if unused.

Michigan HB4124 provides a tax credit for research and development expenses related to advanced small modular reactors.

Michigan HB4124 amends the state's corporate income tax law to introduce a tax credit for qualified research and development expenses related to advanced nuclear reactor technologies. Beginning in 2026, taxpayers and employers can claim a credit equal to 15% of their qualified research and development expenses. The credit is subject to an annual cap of $2,500,000. If the total claims exceed this cap, the credits will be prorated equally among claimants. The credit can be carried forward for up to 15 years if unused.