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Michigan Business Tax
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B14. Is interest and dividend income included in business income under the Michigan Business Tax (MBT)?
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Answer:
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Generally yes. Interest and dividend income that results from business activity is included in business income, unless the income is expressly excluded.
The MBT excludes "[p]ersonal investment activity, including interest, dividends, and gains from a personal investment portfolio or retirement account" for an individual, estate, or partnership or trust organized exclusively for estate or gift planning purposes. MCL 208.1105(3)(i).
Also excluded are dividends and interest from particular sources, e.g., to the extent included in federal taxable income, dividends received from persons other than United States persons and foreign operating entities and interest income derived from United States obligations are deducted. MCL 208.1201(2)(d) and MCL 208.1201(2)(g), respectively.
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