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, MQREs Exceed Base Amount
Unadjusted Credit Example: 250 or More Employees, MQREs Exceed Base Amount
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: $80,000
- Expense year MQREs: $200,000
- Michigan research university MQREs: $0
Calculation
Standard credit = (3% × $80,000) + (10% × ($200,000 − $80,000))
= $2,400 + (10% × $120,000)
= $2,400 + $12,000
= $14,400
Michigan research university credit = N/A
Unadjusted credit = $14,400