206.30a Taxable income; adjustment.
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206.30a Taxable income; adjustment.
Sec. 30a.
Notwithstanding any other provision of this part, for the 2012 tax year and each tax year after 2012 through the 2021 tax year, taxable income for purposes of this part means taxable income as determined under section 30 with the following adjustment. For the 2012 tax year and each tax year after 2012 through the 2021 tax year, to determine taxable income, a taxpayer shall claim a personal exemption deduction equal to the amount calculated pursuant to section 30(2) or equal to the following amounts multiplied by the number of personal and dependency exemptions allowable under section 30(2), whichever calculation is greater:
(a)Beginning on and after October 1, 2012 and before January 1, 2014, $3,950.00. The department shall annualize the personal exemption deduction for the 2012 tax year, rounded to the nearest $1.00.
(b)Beginning on and after January 1, 2014 and before January 1, 2018, $4,000.00.
(c)For the 2018 tax year, $4,050.00.
(d)For the 2019 tax year, $4,400.00.
(e)For the 2020 tax year, $4,750.00.
(f)For the 2021 tax year, $4,900.00.
History: Add. 2012, Act 224 , Imd. Eff. June 29, 2012 ;-- Am. 2018, Act 38 , Imd. Eff. Feb. 28, 2018
Compiler's Notes: Former MCL 206.30a, which pertained to certain allowable deductions, was repealed by Act 484 of 1996, Eff. Jan. 1, 1997.