Introduced
by
To include the compensation of members of limited liability companies, and the compensation of officers of a company who are leased employees of an employee leasing company, in the formula used to determine whether a business is eligible for a single business tax small business credit. The bill would also include in the eligibility formula out-of-state businesses which are under the common control or within the control group of a Michigan business. These changes would allow fewer enterprises to qualify for the credit. This bill is one of many authorizing “revenue enhancements” which Gov. Jennifer Granholm has proposed to close a gap between state spending and expected revenue in the Fiscal Year 2003-2004 budget.
Referred to the Committee on Tax Policy
