Michigan Economic Growth Authority (MEGA) Tax Credit Program, Michigan Strategic Fund (MSF) - 186-0415-16

Description of Agency

The MEGA Tax Credit Program was established in 1995 to promote economic growth and job creation within the State. The MEGA tax credit is a refundable tax credit to a company’s business tax liability to the State of Michigan. A MEGA tax credit certificate is granted to a Michigan business once it fulfills an agreed upon number of created and retained jobs and amount of capital investment in the State. As of December 2011, no new tax credit applications have been accepted or awarded.

Audit Objectives

  1. To assess the sufficiency of MSF’s procedures to approve requests for MEGA tax credit certificates.

  2. To assess MSF’s compliance with the Michigan Compiled Laws reporting requirements for its annual report to the Legislature.

  3. To compile and report selected MEGA Tax Credit Program statistics.


Timing

Estimated Release Date: May 2017


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