Treasury is reviewing the recently enacted tax law changes, including the new Marijuana Wholesale Tax. Developing clear and accurate information for tax stakeholders is our top priority. This guidance will be posted to our website in the coming weeks.
Unadjusted Credit Example: Fewer Than 250 Employees, MQREs Do Not Exceed Base Amount
A business with fewer than 250 employees is calculating its unadjusted credit for the Research and Development (R&D) Tax Credit for the current expense year.
Inputs
- Base amount: $50,000
- Expense year MQREs: $50,000
- Michigan research university MQREs: $0
Outcome
MQREs do not exceed the base amount. The business is not eligible for the credit.
Unadjusted credit = $0