2007 House Bill 5328

Revise Michigan Business Tax insurance company provisions

Introduced in the House

Oct. 18, 2007

Introduced by Rep. Steve Bieda (D-25)

To revise the definition of which insurance company premium revenue is taxable under the new Michigan Business Tax (MBT). Under current law, “reinsurance premiums if the tax has been paid on the original premiums” are not taxable. Under the bill, the exemption would apply to “all reinsurance transactions).

Referred to the Committee on Tax Policy