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.
11. Can a net operating loss (NOL) deduction be claimed on a composite return?
Yes, an NOL deduction may be claimed on a Michigan Composite Individual Income Tax Return (Form 807), but only to the extent that it is attributable to the same participants from the loss year and in the same proportions of ownership.