HB 4055
Individual income tax: credit; child tax credit; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 275.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
House Bill 4055 proposes a new provision in Michigan’s tax code that allows taxpayers to claim a credit based on the federal child tax credit they are eligible for. Specifically, it allows Michigan taxpayers to receive a credit equal to 50% of the federal child tax credit they claim on their federal income tax return. This credit would be applied against the taxpayer’s Michigan income tax liability, with any excess credit being refunded.
Sponsors
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Primary sponsor
Cosponsors
David Prestin
Douglas Wozniak
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