Does the Michigan Business Tax Act contain a Renaissance Zone Credit?
The Michigan Business Tax Act (MBTA), at section 208.1433, provides a Renaissance Zone Credit that is equivalent to the Renaissance Zone Credit found in the Single Business Tax Act (SBTA) at section 208.39b. A taxpayer that is a business located and conducting business activity within a Renaissance Zone may claim the credit against the Michigan Business Tax (MBT) for the tax year. The credit allowed continues through the tax year in which the Renaissance Zone designation expires and is not refundable. To obtain the credit an otherwise qualified taxpayer must file an MBT annual return. The credit is equal to the lesser of the following: • The tax liability attributable to business activity conducted within a Renaissance Zone in the tax year. • Ten percent (10%) of adjusted services performed in a designated Renaissance Zone. • For a taxpayer located and conducting business activity in a Renaissance Zone before December 31, 2002, the product of the following: • The Single Business Tax (S
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