HB 6104 Summary

• Reduces Michigan business income tax rate from 4.95% to 4.50% for tax years beginning after December 31, 2010.

• Maintains the 4.95% rate for tax years beginning after December 31, 2007 and before January 1, 2011.

• Adds deduction for charitable contributions made to the Michigan Education Trust advance tuition payment fund for tax years beginning after December 31, 2009.

• Includes provisions for deductions related to book-tax differences, business losses, affordable housing project gains, and self-employment earnings, with specific calculation methods and limitations detailed throughout the section.

• Bill effectiveness is contingent on enactment of 16 related bills including HB 5249, HB 6103-6119, creating a package of coordinated tax law amendments.