MI SB0428

Beginning January 1, 2014, taxpayers with annual tax liability of $720,000 or more must remit 75% of the previous month's tax liability by the twentieth of each month via electronic funds transfer, plus a reconciliation payment.

From January 1, 1999 through December 31, 2013, high-liability taxpayers must remit 50% of the previous year's same-month liability (or 50% of actual current liability, whichever is less) twice monthly—by the twentieth and last day of the month.

Material persons engaged in selling lumber, building materials, precast concrete, or water/sewage conduit products may file quarterly returns for credit sales instead of monthly returns, at their option.

Tax accrues to the state on the last day of the month in which the sale occurs.

Due dates falling on Saturday, Sunday, state holidays, or legal banking holidays are extended to the next succeeding business day.