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What credits can an estate or trust claim?

An estate or trust may be able to claim credits for each of the following:

  • Income tax imposed by government units outside Michigan on income also taxed by Michigan.
  • Michigan Historic Preservation Tax Credit (nonrefundable). A nonrefundable credit is available to owners or long-term lessees of qualified historic resources who undertake rehabilitation   projects. To be eligible for the credit, the rehabilitation project must be certified by the State Historic Preservation Office prior to December 31, 2011, and a Michigan Historic Preservation Tax Credit (Form 3581) must be included with the Michigan return. For information regarding certification, visit www.michigan.gov/shpo.
  • Michigan Historic Preservation Tax Credit (refundable). For credit certificates issued after December 31, 2008, that are less than $250,000, a taxpayer may elect to forgo the carry forward and receive a refund of 90 percent of the amount of the credit that exceeds the tax liability. The election must be made in the year that the certificate of completed rehabilitation is issued and is irrevocable. To be eligible for the credit, the rehabilitation project must be certified by the State Historic Preservation Office prior to December 31, 2011 and the Michigan Historic Preservation Tax Credit (Form 3581) must be included with the Michigan return.