Introduced in the Senate on June 22, 2005, to revise the sales factor apportionment in the formula that determines the base on which a company’s Single Business Tax is levied. This provision relates to how much of a company’s sales are outside vs. within Michigan, which is one of the elements of a firm’s SBT base. The bill would base the apportionment formula 100 percent on sales, eliminating property and payroll factors. This is linked to
Senate Bill 633, which would cut the SBT rate from 1.9 percent to 1.84 percent
The vote was 23 in favor, 15 opposed and 0 not voting
(Senate Roll Call 511 at Senate Journal 94)
Click here to view bill details.