Corporate Income Tax Rate & Revenue Distribution

Current understanding

Michigan’s corporate income tax is imposed under the Income Tax Act of 1967 (1967 PA 281), with the rate set in MCL 206.623 and revenue distribution governed by MCL 206.695. HB 6134 would increase the corporate income tax rate and revise how the collected revenue is distributed; the bill has been introduced. Specific rate figures and the revised allocation formula remain to be recorded from the bill text.

Evidence log

• 2026-05-19 — Corporate income tax: credits; film incentive credit; restore. Amends secs. 701, 703 & 843 of 1967 PA 281 (MCL 206.701 et seq.) & adds secs. 285 & 678. TIE BAR WITH: HB 5992’26: cross-connection with film-incentive-credit: HB 5991 amends the Corporate Income Tax Act (1967 PA 281) to reinstate the film credit, sitting within the same statutory framework as the corporate income tax rate. (novelty: 2)

Open questions

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