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| C47. Under the MBT, may unused Investment Tax Credits ("ITC") be carried forward to future tax years? |
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No. If the full amount of the ITC calculated under MCL 208.1403(3) cannot be
used, the excess credit is extinguished; it may not be carried forward to
subsequent years. The amount of the ITC in a tax year, coupled with the
Compensation Credit, may not exceed 50% of the MBT liability (52% for the 2009
and subsequent tax years) before imposition of the surcharge under MCL 208.1281.
In contrast, unused carryforwards for any SBT credit may be applied to the MBT
for the 2008 and 2009 tax years only.
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