Michigan HB5517 provides a tax credit for distributors of returnable beverage containers.

Michigan HB5517 amends the Michigan corporate income tax law to allow distributors of returnable beverage containers to claim a tax credit. The credit is equal to $0.005 per returnable container sold during the tax year. Beginning with the 2027 tax year, the credit amount will be adjusted by the percentage increase in the United States Consumer Price Index for the immediately preceding calendar year. Distributors must attach a required report to their annual tax return to be eligible for the credit. If the credit exceeds the tax liability, the excess amount must be refunded.

Michigan HB5517 provides a tax credit for distributors of returnable beverage containers.

Michigan HB5517 amends the Michigan corporate income tax law to allow distributors of returnable beverage containers to claim a tax credit. The credit is equal to $0.005 per returnable container sold during the tax year. Beginning with the 2027 tax year, the credit amount will be adjusted by the percentage increase in the United States Consumer Price Index for the immediately preceding calendar year. Distributors must attach a required report to their annual tax return to be eligible for the credit. If the credit exceeds the tax liability, the excess amount must be refunded.