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MI HB4804

Bill

Official Source

Status

Passed

12/31/2012

Primary Sponsor

Paul Opsommer

Click for details

Origin

House of Representatives

96th Legislature

AI Summary

  • Amends the sales tax law to change prepayment collection requirements for large taxpayers beginning January 1, 2014
  • Large taxpayers with prior year tax liability of $720,000 or more must remit 75% of current month tax liability (or prior year same month liability, whichever is less) by the 20th of the month, plus a reconciliation payment
  • Maintains current 50% prepayment requirement through December 31, 2013 for taxpayers meeting the $720,000 threshold
  • Allows materialpersons (lumber, building material, or water/sewage product suppliers) to file quarterly returns for credit sales instead of monthly returns
  • Effective immediately upon filing with the Secretary of State on December 27, 2012

Legislative Description

Sales tax; collections; prepayment collection process; revise. Amends sec. 6 of 1933 PA 167 (MCL 205.56).

Sales tax, collections

Last Action

Assigned Pa 458'12 With Immediate Effect 2012 Addenda

12/31/2012

Committee Referrals

Finance1/26/2012
Tax Policy6/23/2011

Full Bill Text

No bill text available