In the News

Dykema-Obtained Michigan Appellate Court Ruling on Excess SBT Investment Tax Credit Touted in Bloomberg BNA

February 25, 2013

A recent judgment (Asahi Kasei Plastics North America Inc v. Michigan Department of Treasury, Mich. Ct. App., No. 309240, per curiam 1/29/13) secured by Wayne Roberts, Assistant Leader of Dykema’s Tax Practice Group, from the State of Michigan Court of Appeals, was highlighted in the February 22 edition of Bloomberg BNA.

In its decision, the Appeals Court has ruled that Michigan taxpayers can carry forward excess single business tax (SBT) investment tax credits for the cost of certain tangible assets for up to nine years, but that excess credits – because they’re not a “refund” – are not subject to the four-year limitations period that applies to refunds.

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