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MI HB6158
Bill
Status
5/12/2010
Primary Sponsor
James Slezak
Click for details
AI Summary
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Amends Section 113 of the Michigan Business Tax Act to add credit card processing fees as a deductible "purchase from other firms"
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Allows taxpayers to deduct credit card processing fees paid to or retained by third-party processors under an agreement for processing electronic payments
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Effective for the 2008 tax year and each tax year thereafter
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Applies to all taxpayers who process electronic payments through third-party processors
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Expands the definition of deductible business expenses under the Michigan Business Tax
Legislative Description
Michigan business tax; gross receipts; electronic payment processing fees; include as purchases from other firms. Amends sec. 113 of 2007 PA 36 (MCL 208.1113).
Michigan business tax, gross receipts
Last Action
Printed Bill Filed 05/13/2010
5/13/2010