Section 206.268 - Tax exemption; qualified adoption expenses; definitions. - Michigan Statutes

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

206.268 Tax exemption; qualified adoption expenses; definitions.

Sec. 268.

(1) For tax years that begin after December 31, 2000, an eligible taxpayer may claim a credit under section 267 against the tax imposed by this act equal to the taxpayer's qualified adoption expenses in excess of the amount of credit for qualified adoption expenses the taxpayer claimed under section 23 of the internal revenue code or $1,200.00 per child, whichever is less.

(2) As used in this section:

(a) “Eligible taxpayer” means that term as defined in section 267.

(b) “Qualified adoption expenses” means adoption expenses that are eligible to be used by an eligible taxpayer to claim a credit against the taxpayer's federal tax liability under section 23 of the internal revenue code for the same tax year that the taxpayer is claiming a credit under this section.

History: Add. 2000, Act 393, Imd. Eff. Jan. 8, 2001