HB 4191 Summary

• Allows taxpayers with certificated credits that were not fully claimed before January 1, 2012 to elect filing under the Michigan business tax act instead of the current tax system for their first tax year ending after December 31, 2011.

• Permits taxpayers with certificated credits under sections 435 or 437 of the Michigan business tax act to elect payment under that act in the tax year when such credits may be claimed.

• Allows members of unitary business groups with certain certificated credits to file separate returns and pay taxes under the Michigan business tax act instead of filing combined group returns.

• Provides a special election for taxpayers who acquire a modified and transferred MEGA credit authorized in 2004 to file under the Michigan business tax act for the first tax year ending after October 1, 2018, including retroactive filing options if already filed under current law.

• Retroactively effective for tax years beginning after December 31, 2017, and contingent upon enactment of HB 4189 and HB 4190.