Michigan SB0557 provides tax credits for businesses in aerospace defense zones for research and development expenses.

Michigan SB0557 amends the state's corporate income tax law to offer tax credits for businesses located in aerospace defense zones. These credits apply to businesses involved in defense contracting, aerospace defense, aerospace equipment manufacturing, or other aerospace and defense technology activities. Additionally, businesses that are tier 1, tier 2, or tier 3 defense suppliers, aerospace suppliers, or aerospace defense suppliers with less than $5,000,000.00 in annual gross revenue qualify.

Michigan SB0557 provides tax credits for businesses in aerospace defense zones for research and development expenses.

Michigan SB0557 amends the state's corporate income tax law to offer tax credits for businesses located in aerospace defense zones. These credits apply to businesses involved in defense contracting, aerospace defense, aerospace equipment manufacturing, or other aerospace and defense technology activities. Additionally, businesses that are tier 1, tier 2, or tier 3 defense suppliers, aerospace suppliers, or aerospace defense suppliers with less than $5,000,000.00 in annual gross revenue qualify.