Bill Text: MI HB5332 | 2011-2012 | 96th Legislature | Engrossed
Bill Title: Income tax; returns; mandatory unitary filing for certain taxpayers with a certificated credit; eliminate. Amends secs. 680 & 691 of 1967 PA 281 (MCL 206.680 & 206.691).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2012-03-29 - Assigned Pa 70'12 With Immediate Effect [HB5332 Detail]
Download: Michigan-2011-HB5332-Engrossed.html
HB-5332, As Passed House, February 15, 2012
HOUSE BILL No. 5332
January 31, 2012, Introduced by Rep. Haveman and referred to the Committee on Commerce.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
by amending sections 680 and 691 (MCL 206.680 and 206.691), as
added by 2011 PA 38.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 680. (1) Notwithstanding any other provision of this
part, except as otherwise provided in subsection (2) for a
certificated credit under section 435 or 437 of the Michigan
business tax act, 2007 PA 36, MCL 208.1435 and 208.1437, a taxpayer
that has been approved to receive, has received, or has been
assigned a certificated credit that has not been fully claimed or
paid prior to January 1, 2012 may, for the taxpayer's first tax
year ending after December 31, 2011 only, elect to file a return
and pay the tax imposed by the Michigan business tax act, 2007 PA
36, MCL 208.1101 to 208.1601, in lieu of the tax imposed by this
part. An election under this subsection shall continue for the
period prescribed in section 500(1) of the Michigan business tax
act, 2007 PA 36, MCL 208.1500.
(2) A taxpayer with a certificated credit under section 435 or
437 of the Michigan business tax act, 2007 PA 36, MCL 208.1435 and
208.1437, which certificated credit may be claimed in a tax year
ending after December 31, 2011 may elect to pay the tax imposed by
the Michigan business tax act, 2007 PA 36, MCL 208.1101 to
208.1601, in the tax year in which that certificated credit or any
unused carryforward may be claimed in lieu of the tax imposed by
this part.
(3) A taxpayer that is a member of a unitary business group
and that has a certificated credit under sections 431 and 434(2)
and (5) of the Michigan business tax act, 2007 PA 36, MCL 208.1431
and 208.1434, is not required to file a combined return as a
unitary business group and may elect to file a separate return and
pay the tax, if any, under the Michigan business tax act, 2007 PA
36, MCL 208.1101 to 208.1601.
(4) (3)
A taxpayer that elects to pay the
tax imposed by the
Michigan business tax act, 2007 PA 36, MCL 208.1101 to 208.1601,
under this section is not required to file an annual return under
this part.
(5) (4)
As used in this section,
"certificated credit" means
that term as defined in section 107 of the Michigan business tax
act, 2007 PA 36, MCL 208.1107.
Sec.
691. A Except as otherwise
provided under section 680(3),
a unitary business group shall file a combined return that includes
each United States person that is included in the unitary business
group. Each United States person included in a unitary business
group or included in a combined return shall be treated as a single
person, and all transactions between those persons included in the
unitary business group shall be eliminated from the corporate
income tax base and the apportionment formulas under this part. If
a United States person included in a unitary business group or
included in a combined return is subject to the tax under chapter
12 or 13, any corporate income attributable to that person shall be
eliminated from the corporate income tax base and any sales
attributable to that person shall be eliminated from the
apportionment formula under this part.
