HB4754

Michigan HB4754 proposes a tax credit for cash and food donations to shelters and food banks aiding indigent persons.

Michigan HB4754 amends the Michigan income tax law to allow a credit for cash and food donations to shelters, food kitchens, food banks, or other entities aiding indigent persons. The credit is limited to the sum of the cash and fair market value of food items donated. For individual taxpayers, the credit cannot exceed $150 or $300 for joint filers. For estates or trusts, the credit is capped at 10% of the tax liability or $7,500, whichever is less. To claim the credit, taxpayers must receive a written acknowledgment from the entity detailing the contribution.