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MI HB4737
Bill
Status
7/15/2025
Primary Sponsor
Steve Carra
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AI Summary
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Reduces Michigan's corporate income tax rate from the current 6.0% to 4.25% through a phased rollback over five years beginning October 1, 2025
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Sets the following rate schedule: 5.5% for 2025-2026 fiscal year, 5.25% for 2026-2027, 5.0% for 2027-2028, 4.75% for 2028-2029, and 4.5% for 2029-2030
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Establishes a permanent corporate income tax rate of 4.25% for all business activity occurring on and after October 1, 2030
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Defines "state fiscal year" as the annual period from October 1 through September 30 for purposes of applying the phased rate reductions
Legislative Description
Corporate income tax: rate; incremental rollback of rate to 4.25%; provide for. Amends sec. 623 of 1967 PA 281 (MCL 206.623).
Corporate income tax: rate
Last Action
Bill Electronically Reproduced 07/15/2025
7/22/2025