Title: Michigan College Tuition Tax Credit (Calculation and Notice of Change in Annual Tuition) Form 3741
Description: Calculation and notice of change in annual tuition. Public Act 7 of 1995 created an income tax credit for college tuition and uniformly applied fees paid on behalf of a student beginning in tax year 1995. To claim this credit, tuition must be paid on behalf of a student attending a Michigan higher education institution which claims tuition will not increase in the ensuing academic year by more than the preceding year's rate of inflation. Institutions must notify the Department of Treasury by July 1 of the tax year whether tuition at their institution will not increase during the ensuing academic year by more than the inflation rate certified by the State Treasurer.