A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” (MCL 206.1 to 206.847) by adding sections 279 and 679.
This legislation proposes to provide a work opportunity tax credit for employers, excluding tax-exempt organizations, for qualified wages paid to certified employees. The credit is set at 50% of the federal credit allowed under section 51 of the Internal Revenue Code for the same tax year. The bill specifies the definitions of "qualified employees" and "qualified wages," and stipulates that the credit applies to tax years beginning on or after January 1, 2024.
Co-sponsored by Reps.
Referred to the Committee on Economic Development and Small Business
