MI HB5008

Adds new subsection (2)(i) to the corporate income tax base requiring taxpayers to add back "specified outsourcing expenses" that were deducted in calculating federal taxable income.

Defines "specified outsourcing expenses" as eligible business expenses paid for eliminating a trade or business located in Michigan or relocating a Michigan-based business outside the state.

Defines "eligible expenses" to include trade or business deductions under Internal Revenue Code section 162, plus permit and license fees, lease brokerage fees, equipment installation costs, and similar expenses.

Applies the add-back requirement to corporations subject to Michigan's 6.0% corporate income tax on business income allocated or apportioned to the state.