Michigan HB4816 proposes a tax credit for investments in Michigan businesses, up to $3,000 per business per year.

Michigan HB4816 introduces a tax credit for investments in qualified Michigan businesses, effective from January 1, 2025. The credit equals 50% of the investment, with a maximum of $3,000 per business per year. To qualify, businesses must be headquartered, domiciled, and have most employees in Michigan, with at least 80% of gross revenues from Michigan operations. The Michigan Strategic Fund will certify investments and develop an application process. If the credit exceeds the taxpayer's liability, the excess can be carried forward for up to 10 years.

Michigan HB4816 proposes a tax credit for investments in Michigan businesses, up to $3,000 per business per year.

Michigan HB4816 introduces a tax credit for investments in qualified Michigan businesses, effective from January 1, 2025. The credit equals 50% of the investment, with a maximum of $3,000 per business per year. To qualify, businesses must be headquartered, domiciled, and have most employees in Michigan, with at least 80% of gross revenues from Michigan operations. The Michigan Strategic Fund will certify investments and develop an application process. If the credit exceeds the taxpayer's liability, the excess can be carried forward for up to 10 years.