Public Act 36 of 2007, MCL 208.1425 (6)(b) created a non-refundable credit for MBT taxpayers who make contributions to certified Education Foundations. The statute provides that "[t]he credit allowed by this section shall not exceed 5% of the taxpayer's tax liability for the tax year before claiming any credits allowed by this act or $5,000.00, whichever is less." MCL 208.1425(2).
To become certified, Education Foundations must complete Form 4629, Application for Michigan Education Foundation Certification, which must be mailed to the Education
Foundation Unit. Your application must be postmarked on or before April 1, 2010
to be considered timely. Please complete this application even if you are unsure
whether your organization qualifies for the credit, or your organization doesn't
have all of the requested supporting documents by April 1, 2010.
If you have any questions regarding this application please email Treas_TEK@michigan.gov and include "Education Foundation" in the subject line or call the Technical Services division at (517) 636-4230.
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