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MI HB6107
Bill
Status
5/4/2010
Primary Sponsor
Larry DeShazor
Click for details
AI Summary
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Imposes an annual surcharge on Michigan business tax taxpayers of 21.99% for non-chapter 2B taxpayers for tax years ending after December 31, 2007 and before January 1, 2011.
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Sets surcharge rates for chapter 2B taxpayers at 27.7% for tax years ending after December 31, 2007 and before January 1, 2009, and 23.4% for tax years ending after December 31, 2008 and before January 1, 2011.
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Caps the surcharge on any single taxpayer under the non-chapter 2B category at $6,000,000 per tax year.
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Modifies the research and development tax credit for 2008 to 1.52% and for 2009-2010 to 1.90% of research and development expenses in Michigan, with combined credits capped at 65% of tax liability before surcharge imposition.
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Bill takes effect only upon enactment of 16 companion bills identified in the enacting section.
Legislative Description
Michigan business tax; surcharge; surcharge and research and development credits; sunset. Amends secs. 281 & 405 of 2007 PA 36 (MCL 208.1281 & 208.1405). TIE BAR WITH: HB 5249'09, HB 6103'10, HB 6104'10, HB 6105'10, HB 6106'10, HB 6108'10, HB 6109'10, HB 6110'10, HB 6111'10, HB 6112'10, HB 6113'10, HB 6114'10, HB 6115'10, HB 6116'10, HB 6117'10, HB 6118'10, HB 6119'10
Michigan business tax, credit
Last Action
Printed Bill Filed 05/05/2010
5/5/2010