Introduced
by
Corporate Income Tax “cleanup” package to make a number of clarifications, corrections or technical adjustments to provisions of the state income tax related to the taxation of businesses. The package consists of Senate Bills 650 to 681. This bill closes a loophole that could allow financial institutions to claim they have no "substantial nexus" (physical presence making them liable for state tax) in the state.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Amendment offered
by
To formally repeal the Michigan Business Tax, which will eventually become a dead letter when various tax breaks granted under have expired.
The amendment failed 12 to 26 (details)
Passed in the Senate 26 to 12 (details)
To make a number of clarifications, corrections or technical adjustments to provisions of the state income tax related to the taxation of businesses. The package consists of Senate Bills 650 to 681. This bill closes a loophole that could allow financial institutions to claim they have no "substantial nexus" (physical presence making them liable for state tax) in the state.
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 63 to 45 (details)
To make a number of clarifications, corrections or technical adjustments to provisions of the state income tax related to the taxation of businesses. The package consists of Senate Bills 650 to 681. This bill closes a loophole that could allow financial institutions to claim they have no "substantial nexus" (physical presence making them liable for state tax) in the state.
