A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” by amending section 623 (MCL 206.623), as amended by 2021 PA 135.
Imposes a 6.0% corporate income tax on entities conducting business in Michigan or those with ownership interests in such entities, with adherence to certain federal limitations. It specifies the calculation of the corporate income tax base, incorporating adjustments for various types of income, taxes, losses, and expenses, and includes conditions for transactions between related entities.
Introduced
by
Referred to the Committee on Appropriations
