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MI SB1303
Bill
Status
4/28/2010
Primary Sponsor
Randy Richardville
Click for details
AI Summary
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Amends the Michigan Business Tax Act to modify the definition of "purchases from other firms" under section 113.
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Adds new subsection (h) effective for tax years beginning after December 31, 2009, allowing taxpayers licensed under parts 170 or 175 of the Public Health Code to deduct payments for vaccines and pharmaceutical drugs administered in their ordinary business operations.
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Part 170 covers physicians and surgeons; Part 175 covers nurse practitioners and other advanced practice professionals under Michigan's Public Health Code.
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Allows these healthcare providers to treat vaccine and pharmaceutical drug purchases as deductible business expenses for gross receipts tax calculation purposes.
Legislative Description
Michigan business tax; gross receipts; definition of purchases from other firms; include cost of vaccines and certain pharmaceuticals administered by physicians. Amends sec. 113 of 2007 PA 36 (MCL 208.1113).
Health, pharmaceuticals
Last Action
Referred To Committee On Finance
4/28/2010