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Corporate Tax Base 9. Is an individual person who earns more than $350,000 in interest and dividends for the tax year subject to the CIT? Are the person's capital gains from sales of stock subject to the CIT?

Corporate Tax Base 9. Is an individual person who earns more than $350,000 in interest and dividends for the tax year subject to the CIT? Are the person's capital gains from sales of stock subject to the CIT?

No, the corporate income tax is levied and imposed only on a person that is required or has elected to file federally as a C corporation, insurance companies, financial institutions, or a unitary business group as defined under MCL 206.611(6).

However, dividends, interest, and capital gains of an individual may be subject to the individual income tax to the extent that they are included in the individual's federal adjusted gross income for the tax year.