MI HB6125

Adds a new exemption to Michigan's general sales tax allowing credit for the agreed-upon value of a portable electronic device used as trade-in toward purchase of a new or used portable electronic device from a retail seller, with the credit value separately stated on the invoice or bill of sale.

Defines "portable electronic device" as an electronic device that is portable and includes accessories related to that device.

Corrects the definition of "textiles" by changing "pillow cases" to "pillowcases" as a single word.

Modifies the definition of "person" to clarify that corporations may be organized "or not for profit" using proper punctuation.

Grandfathers existing sales tax assessments related to delivery and installation charges issued before April 26, 2023, with the department required to cancel outstanding balances and cease issuing new assessments for those charges on past tax periods.