Introduced
by
To authorize a refundable income 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 that the legislature passed on Oct. 1, 2007 and repealed on Dec. 1, 2007.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.
Consideration postponed
Passed in the Senate 21 to 15 (details)
To authorize an income tax credit equal to the amount a business owner 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 that the legislature passed on Oct. 1, 2007 and repealed on Dec. 1, 2007.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, and so would be limited to an individual's current year tax liability.
Referred to the Committee on Tax Policy
