SB 0308
Individual income tax: credit; working parent tax credit and advanced monthly payments of that credit; create and provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 272b.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill creates a new working parent tax credit in Michigan, offering eligible taxpayers up to $5,500 per qualified dependent. It also establishes a system for distributing advance monthly payments of this credit to taxpayers, starting in 2025. These monthly payments will be based on estimated tax returns and will be disbursed electronically or via check.
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