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MI HB4920
Bill
Status
12/31/2014
Primary Sponsor
John Walsh
Click for details
AI Summary
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Modifies sales tax payment requirements for high-liability taxpayers with annual tax liability of $720,000 or more, effective January 1, 2014
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Requires these taxpayers to remit 75% of the prior month's liability or 75% of the same month's liability from the prior calendar year (whichever is less) plus a reconciliation payment, via electronic funds transfer by the 20th of each month
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Allows combined payment of sales tax and use tax obligations in a single electronic funds transfer submission
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Permits material persons (lumber, building material, precast concrete, or water/sewage conduit suppliers) to file quarterly returns instead of monthly returns for credit sales on real property improvements
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Takes effect immediately upon approval on December 30, 2014
Legislative Description
Sales tax; collections; accelerated filers; revise effective date. Amends sec. 6 of 1933 PA 167 (MCL 205.56).
Sales tax, collections
Last Action
Assigned Pa 425'14 With Immediate Effect 2014 Addenda
12/31/2014