Introduced
by
To prohibit the deduction of gains paid by an out-of-state business to a Michigan firm which is a subsidiary “flow-through” business entity, from the revenue base of the Michigan firm. The revenue base is used to determine the firm’s liability under the Single Business Tax. This bill is one of many authorizing “revenue enhancements” which Gov. Jennifer Granholm has proposed to close a gap between state spending and expected revenue in the Fiscal Year 2003-2004 budget.
Referred to the Committee on Tax Policy
