Taxable Income Or Net Income; Definition - Mich. Comp. Laws Section 206.28

Sec. 28.

"Taxable income" or "net income" means, unless specifically defined otherwise in this act, taxable income as defined in the internal revenue code for the subject taxpayer for federal income tax purposes, subject to any adjustment resulting from the election in section 271 but without deduction or credit for any tax on or measured by net income.