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.
Annualization of Income
What is Annualizing Income?
If a person has died or resided in Michigan part of the year, income/total household resources (THR) must be projected for the whole year.
Your annualized THR, though not reported on the form, will determine if your credit claim is impacted using tables A and/or B from the MI-1040CR instructions.