Michigan Legislation Would Create Tax Credit for Automotive R&D in OZs

Monday, June 17, 2019 - 11:30AM

Legislation introduced in the Michigan state Senate would create a tax credit for qualified research and development (R&D) expenses related to the automotive industry in opportunity zones (OZs). S.B. 378 would allow a credit for a percentage of the difference between the taxpayer’s R&D expenses in an OZ and expenses in an OZ during the three-year base period, with a formula to determine the credit if the taxpayer didn’t incur qualified R&D expenses in the base period.

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