Section 206.30d - Short title; child care; taxable income; allowable deductions. - Michigan Statutes

INCOME TAX ACT OF 1967 (EXCERPT)
Act 281 of 1967

206.30d Short title; child care; taxable income; allowable deductions.

Sec. 30d.

(1) The amendatory act that added this section shall be known as the “child care act of 1997”.

(2) For the 1998 tax year and for tax years that begin in 1999, taxable income for purposes of this act equals taxable income as determined under section 30 from which a taxpayer may deduct the following amounts:

(a) An amount equal to $600.00 multiplied by the number of exemptions claimed by the taxpayer under section 30(2) in the tax year for dependents of the taxpayer who are children younger than 7 years of age on the last day of the tax year.

(b) An amount equal to $300.00 multiplied by the number of exemptions claimed by the taxpayer under section 30(2) in the tax year for dependents of the taxpayer who are children and who are at least 7 years of age and younger than 13 years of age on the last day of the tax year.

(3) For tax years that begin after 1999, taxable income for purposes of this act equals taxable income as determined under section 30 from which a taxpayer may deduct an amount equal to $600.00 multiplied by the number of exemptions claimed by the taxpayer under section 30(2) in the tax year for dependents of the taxpayer who are children younger than 19 years of age on the last day of the tax year.

History: Add. 1997, Act 81, Eff. July 28, 1997 ;-- Am. 2000, Act 42, Imd. Eff. Mar. 27, 2000
Compiler's Notes: Enacting section 1 of 2000 PA 42 provides:“It is the intent of the legislature that the enactment of this amendatory act shall not reduce the amount that would have been available for deposit into the school aid fund under section 51 of the income tax act of 1967, 1967 PA 281, MCL 206.51, if this amendatory act had not been enacted.”