Introduced
by
To authorize a Michigan Business Tax credit equal to the amount a firm spent preparing to comply with the <a href="http://www.michiganvotes.org/2007-HB-5198">6 percent tax on many services</a> that the legislature passed on Oct. 1, 2007 and repealed on Dec. 1, 2007.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that would make the tax credit non-refundable.
The substitute passed by voice vote
Passed in the Senate 22 to 14 (details)
To authorize a Michigan Business Tax credit equal to the amount a firm spent preparing to comply with the <a href="http://www.michiganvotes.org/2007-HB-5198">6 percent tax on many services</a> that the legislature passed on Oct. 1, 2007 and repealed on Dec. 1, 2007. The credit would not be refundable or carry-forwardable, so would be limited to a firms current year tax liability.
Referred to the Committee on Tax Policy
