2007 House Bill 5104 ↩

House Roll Call 389: Passed

To revise the profits tax component of the new <a href="http://www.michiganvotes.org/2007-SB-94">”Michigan Business Tax”</a> to correct a provision that reportedly could create the unintended consequence of imposing much higher taxes on businesses due to a new accounting standard related to “deferred assets” (“FAS 109”). The bill is "tie-barred" to House Bill 5194, meaning this bill cannot become law unless that one does also. HB 5194 is the "vehicle" bill for a possible increase in the state income tax from 3.9 percent to 4.6 percent.