The Michigan Department of Treasury has published a notice providing guidance on the new tax credit for Corporate Income Tax (CIT) taxpayers and certain flow-through entities for qualifying research and development expenses (“R&D Expenses”). The Department’s notice describes the new credit and the process for claiming it, which differs depending on whether the claimant is a CIT taxpayer or a flow-through entity. In both cases, the credit is available starting with R&D Expenses incurred during the 2025 calendar year, and the first statutory filing deadline is April 1, 2026. (Notice Regarding New Research and Development Credit, Mich. Dept. Treas., 04/02/2025.)
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