Introduced
by
To authorize Single Business Tax (SBT) credits for wages paid to Michigan residents employed in a motion picture produced here. Movies with production costs of $250,000 to $1 million would be eligible for a credit equal to of 10 percent of the amount paid to Michigan residents, and the credit for movies with higher production costs would be 25 percent of their Michigan payroll. The credit does not apply on compensation of more than $1 million paid to a single person (such as an actor).
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-3) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Substitute offered
by
To replace the previous version of the bill with one that eliminates all of a movie production company's SBT liability in certain cases.
The substitute passed by voice vote
Passed in the House 95 to 9 (details)
To exempt motion picture or TV production companies that spend more than $250,000 on a film or TV show in Michigan from the Single Business Tax (SBT) liability they would otherwise have to pay on their Michigan business expenditures. Note: Because the SBT is a value added tax, it is levied not on how much a business makes, but on a formula determined by its net spending on business operations.
Referred to the Committee on Finance
