Emergency-related state tax relief available for taxpayers located in two counties of Michigan impacted by severe weather.
Unadjusted Credit Example: 250 or More Employees, Base Amount is Zero (No Prior MQREs)
Unadjusted Credit Example: 250 or More Employees, Base Amount is Zero (No Prior MQREs)
An eligible business with more than 250 employees is claiming the Research and Development (R&D) Tax Credit and needs to calculate its unadjusted credit for the current expense year.
Inputs
- Base amount: $0
- Expense year MQREs: $500,000
- Michigan research university MQREs: $0
Calculation
Standard credit = (3% × $0) + (10% × ($500,000 − $0))
= $0 + $50,000
= $50,000
Michigan research university credit = N/A
Unadjusted credit = $50,000