Bill Text: MI SB0001 | 2009-2010 | 95th Legislature | Introduced
Bill Title: Michigan business tax; rate; surcharge on business tax; phase out. Amends sec. 281 of 2007 PA 36 (MCL 208.1281).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2009-02-04 - Referred To Committee On Tax Policy [SB0001 Detail]
Download: Michigan-2009-SB0001-Introduced.html
SENATE BILL No. 1
January 14, 2009, Introduced by Senator JANSEN and referred to the Committee on Finance.
A bill to amend 2007 PA 36, entitled
"Michigan business tax act,"
by amending section 281 (MCL 208.1281), as added by 2007 PA 145.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 281. (1) In addition to the taxes imposed and levied
under
this act and subject to subsections (2)
, and (3), and (4),
to meet deficiencies in state funds an annual surcharge is imposed
and levied on each taxpayer equal to the following percentage of
the taxpayer's tax liability under this act after allocation or
apportionment to this state under this act but before calculation
of the various credits available under this act:
(a) For each taxpayer other than a person subject to the tax
imposed
and levied under chapter 2B: ,
(i) For tax years ending after December 31, 2007 and before
January 1, 2009, 21.99%.
(ii) For tax years ending after December 31, 2008 and before
January 1, 2010, 11.0%.
(b) For a person subject to the tax imposed and levied under
chapter 2B:
(i) For tax years ending after December 31, 2007 and before
January 1, 2009, 27.7%.
(ii) For tax years ending after December 31, 2008, 23.4%.
(2) If the Michigan personal income growth exceeds 0% in any 1
of the 3 calendar years immediately preceding the 2017 calendar
year,
then the surcharge under subsection (1) (1)(b) shall not be
levied and imposed on or after January 1, 2017. For purposes of
this subsection, "Michigan personal income" means personal income
for this state as defined by the bureau of economic analysis of the
United States department of commerce or its successor.
(3) The amount of the surcharge imposed and levied on any
taxpayer under subsection (1)(a) shall not exceed $6,000,000.00 for
any single tax year.
(4) The surcharge imposed and levied under this section does
not apply to either of the following:
(a) A person subject to the tax imposed and levied under
chapter 2A.
(b) A person subject to the tax imposed and levied under
chapter 2B that is authorized to exercise only trust powers.
(5) The surcharge imposed and levied under this section shall
constitute a part of the tax imposed under this act and shall be
administered, collected, and enforced as provided under this act.