R&D Tax Credit Approved

Nov 3, 2023

by Liz Gullett

As MLC’s Communications and Social Media Manager, Liz Gullett keeps clients informed and up-to-date on the goings on in Lansing and the Capitol.

The House approved a bipartisan plan creating the Research and Development (R&D) Tax Credit Program. Currently, 37 states have a version of an R&D tax credit. Furthermore, Michigan is the only midwestern state without such a program.

Key Points:

    • The tax credits are patterned after federal credits.
    • Creates a state-level tax credit to offset the costs of R&D, which supporters believe will encourage businesses of all sizes to create jobs in Michigan.
    • Businesses with 250 or more employees could claim up to $2 million per year.
    • Businesses with fewer than 250 employees could claim up to $250,000 per year.
    • Employers could claim up to $200,000 additionally per year for expenses due to collaboration with a research university.

Next Steps:

    • The bills were sent directly to the Senate Committee of the Whole for consideration.

Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.

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