Section 206.267 - Tax credit after December 31, 2000; refund; “eligible taxpayer” defined.
INCOME TAX ACT OF 1967 (EXCERPT)
Act 281 of 1967
206.267 Tax credit after December 31, 2000; refund; “eligible taxpayer” defined.
Sec. 267.
(1) For tax years that begin after December 31, 2000, an eligible taxpayer may claim a credit against the tax imposed by this act equal to the amount determined under section 268.
(2) If the credit allowed under this section for the tax year exceeds the taxpayer's tax liability for the tax year, that portion that exceeds the tax liability for the tax year shall be refunded.
(3) As used in this section, “eligible taxpayer” means a taxpayer that claimed a credit under section 23 of the internal revenue code for the same tax year that the taxpayer is claiming a credit under this section.
History: Add. 2000, Act 394, Imd. Eff. Jan. 8, 2001