A Bill to Amend Income Tax Act of 1967
Over the past decade, as investment crowdfunding became legal in Michigan and across the nation, over 1.5 million citizens invested over 1.4 billion dollars directly into businesses, very often in businesses in the communities where the investor lived. House Bill 4116 was introduced in the Michigan Legislature on Feb. 3rd, 2021. This bill provides an incentive for all Michigan citizens to invest in Michigan businesses, by providing a State of Michigan income tax credit equal to 50% of the amount invested. HB4116 has now been voted out of the House Tax Policy Committee and onto the House floor. Read the full bill by clicking here.