Introduced
by
To authorize a Michigan Business Tax credit equal to the amount a firm spent preparing to comply with the 6 percent tax on many services that the legislature passed on Oct. 1, 2007 and repealed on Dec. 1, 2007.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that would make the tax credit non-refundable.
The substitute passed by voice vote
Passed in the Senate 22 to 14 (details)
To authorize a Michigan Business Tax credit equal to the amount a firm spent preparing to comply with the 6 percent tax on many services that the legislature passed on Oct. 1, 2007 and repealed on Dec. 1, 2007. The credit would not be refundable or carry-forwardable, so would be limited to a firms current year tax liability.
Referred to the Committee on Tax Policy
