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MI HB4346

Bill

Official Source

Status

Passed

5/3/2012

Primary Sponsor

John Walsh

Click for details

Origin

House of Representatives

96th Legislature

AI Summary

  • Revises the use tax prepayment collection process for large taxpayers, effective January 1, 2014
  • Requires taxpayers with prior year tax liability of $720,000 or more to remit 75% of the previous month's liability by the 20th of each month, plus a reconciliation payment for any difference from the prior month
  • Changes the payment schedule from two payments per month (50% each) under the previous system to a single primary payment of 75% by the 20th
  • Allows the 75% payment to be combined with general sales tax payments for streamlined electronic funds transfer to the Department of Treasury
  • Takes effect immediately upon approval on May 2, 2012

Legislative Description

Use tax; collections; prepayment collection process; revise. Amends sec. 6 of 1937 PA 94 (MCL 205.96).

Use tax, collections

Last Action

Assigned Pa 117'12 With Immediate Effect

5/3/2012

Committee Referrals

Finance1/26/2012
Tax Policy3/1/2011

Full Bill Text

No bill text available