Introduced
by
To exclude Use Tax from a provision in the Single Business Tax (SBT) which indicates that the SBT is imposed on insurance companies in lieu of other taxes. In other words, the bill would impose the Use Tax on the purchase of tangible personal property by insurance companies from out-of-state vendors. 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 Finance
