Michigan SB0115 offers a tax credit for investments in Michigan businesses.
Michigan SB0115 amends the Michigan income tax law to provide a tax credit for certain investments in Michigan businesses. The credit is equal to 50% of the qualified investment made during the tax year, up to a maximum of $3,000 per qualified business. To qualify, the business must meet specific criteria, including having its headquarters, majority of employees, and transactions limited to Michigan residents. The Michigan strategic fund must certify the investment as a qualified investment.
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