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| C36. Can a taxpayer use data from its SBT tax periods in calculating the loss adjustment for purposes of determining eligibility for the Alternative Small Business Credit under MCL 208.1417? |
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Yes, the Department will allow the use of a "loss adjustment" from a period prior to the start of the MBT for purposes of determining qualification for the Alternative Small Business Credit under MCL 208.1417. In computing eligibility for the Alternative Small Business Credit, the MBTA defines "loss adjustment" to mean, in pertinent part, "the amount by which adjusted business income was less than zero in any of the 5 tax years immediately preceding the tax year for which eligibility for the credit under this section is being determined." MCL 208.1417(9)(d) [Emphasis added]. Therefore, a taxpayer may utilize data for the respective tax years under the SBT to calculate eligibility for the Alternative Small Business Credit for MBT tax year 2008 through 2012.
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