MI HB5009

Requires unitary business groups to file combined returns that treat all included U.S. persons as a single entity for corporate income tax purposes.

Eliminates all transactions between persons in a unitary business group from the corporate income tax base, apportionment formulas, and exemption/credit calculations.

Allows affiliated groups to elect unitary business group treatment without department consent on a form filed with the annual return.

Makes unitary business group elections irrevocable and binding for 10 tax years, with the option to renew for additional 10-year periods after a 3-year waiting period if not renewed.

Effective for tax years beginning after December 31, 2013.