Bill Text: MI HB4964 | 2011-2012 | 96th Legislature | Engrossed
Bill Title: Income tax; other; definition of corporation; clarify. Amends sec. 605 of 1967 PA 281 (MCL 206.605).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2011-10-18 - Assigned Pa 179'11 With Immediate Effect [HB4964 Detail]
Download: Michigan-2011-HB4964-Engrossed.html
HB-4964, As Passed Senate, September 28, 2011
HOUSE BILL No. 4964
September 13, 2011, Introduced by Rep. Nesbitt and referred to the Committee on Tax Policy.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
by amending section 605 (MCL 206.605), as added by 2011 PA 38.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
605. (1) "Corporation" means a taxpayer person that
is
required or has elected to file as a C corporation as defined under
section 1361(a)(2) and section 7701(a)(3) of the internal revenue
code. Corporation does not include an insurance company or a
financial institution.
(2) "Department" means the department of treasury.
(3) "Disregarded entity" means a qualified subchapter S
subsidiary under section 1361(b)(3) of the internal revenue code or
a single member limited liability company that has not elected to
be classified as a corporation under 26 CFR 301.7701.
(4) "Employee" means an employee as defined in section 3401(c)
of the internal revenue code. A person from whom an employer is
required to withhold for federal income tax purposes is prima facie
considered an employee.
(5) "Employer" means an employer as defined in section 3401(d)
of the internal revenue code. A person required to withhold for
federal income tax purposes is prima facie considered an employer.
Enacting section 1. This amendatory act takes effect January
1, 2012.
