January 24, 2007, Introduced by Senator THOMAS and referred to the Committee on Finance.
A bill to amend 1975 PA 228, entitled
"Single business tax act,"
(MCL 208.1 to 208.145) by adding section 36f.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 36f. (1) For the 1 tax year that begins after December
31, 2006 and before January 1, 2008, a taxpayer may claim a credit
against the tax imposed by this act equal to the amount of a work
opportunity tax credit under section 51 of the internal revenue
code, claimed by the taxpayer for the same tax year.
(2) If the amount of the credit allowed under this section
exceeds the tax liability of the taxpayer for the tax year, that
portion of the credit that exceeds the tax liability shall be
refunded.