Introduced
by
To revise the “unitary business group” provisions of the Michigan Business Tax to establish that a unitary business group may elect to include another person or entity that would not otherwise be included, if that person or entity meets the ownership requirements of a unitary business group. According to the Senate Fiscal Agency, a unitary business group includes a group of businesses controlled by one of them and with operations that flow between them, and the goal of unitary filing is to reduce tax avoidance by eliminating the effectiveness of transferring financial transactions among the businesses.
Referred to the Committee on Finance
Which adopted a version establishing that a person added to a "unitary business group" would be considered part of it for at least five years.
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 revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the Senate 21 to 17 (details)
Referred to the Committee on Tax Policy
