Mich. Admin. Code R. 206.17 - City income tax credit
Rule 17.
(1) Each
person subject to tax under Act No. 281 of the Public Acts of 1967, being
ยงยง
206.1
through
206.532
of the Michigan Compiled Laws, may claim a credit for a portion of the income
taxes levied by cities in Michigan that are deductible if that person had not
elected the standard deduction. For purposes of computations of this credit,
city income taxes do not include penalties or interest paid.
(2) The amount of city income taxes used as a
basis for computation of this credit shall be the city income tax paid by the
taxpayer in the tax year. The tax paid shall be reduced by any refund of
overpaid taxes of a prior year.
(3)
If a person is assessed and pays additional city income taxes applicable to
prior years, the additional taxes paid shall be added to the city income tax of
the year in which they are paid for purposes of computation of this
credit.
Notes
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