Tax Credit; Calculations; Tax Year In Which Claimed; Applicability - Mich. Comp. Laws Section 208.36c

***** 208.36c THIS SECTION IS REPEALED BY ACT 325 OF 2006 EFFECTIVE DECEMBER 31, 2007 *****

Sec. 36c.

(1) For tax years that begin after December 31, 1996 and before January 1, 2000 and if section 23(e) is in effect, a taxpayer may claim a credit equal to a positive amount, if any, that results from the following calculations:

(a) Calculate the taxpayer's tax liability for the tax year before the credit under this section is taken.

(b) Calculate the taxpayer's tax liability for the tax year including the following criteria:

(i) Determine adjustments under section 23 as if section 23(c) is in effect and section 23(e), (f), (g), and (i) are not in effect.

(ii) Determine adjustments under section 23b as if section 23b(c) is in effect and section 23b(d), (e), and (g) are not in effect.

(iii) Determine the apportionment factor for the tax year as if section 45(4) is in effect and section 45(5), (6), and (7) are not in effect.

(iv) Section 45a is not in effect.

(c) Subtract the amount determined under subdivision (b) from the amount determined under subdivision (a). Subtract $5,000,000.00 from that result.

(2) The credit under this section shall not be claimed by a taxpayer for a tax year in which the taxpayer claims a reduction under section 31(2).

(3) This section does not apply to taxpayers that determine adjusted tax base under section 22a.