Individual income tax: income; treatment of certain provisions under the internal revenue code and revenue distributions; modify. Amends secs. 12, 30, 36, 607, 695 & 805 of 1967 PA 281 (MCL 206.12 et seq.) & repeals sec. 51d of 1967 PA 281 (MCL 206.51d). TIE BAR WITH: HB 4183'25, HB 4951'25, HB 4968'25
Individual income tax: rate; rollback of rate to 3.9%; provide for. Amends sec. 51 of 1967 PA 281 (MCL 206.51).
Individual income tax: rate; rollback of rate to 3.9%; provide for. Amends sec. 51 of 1967 PA 281 (MCL 206.51).
Corporate income tax: rate; incremental rollback of rate to 4.25%; provide for. Amends sec. 623 of 1967 PA 281 (MCL 206.623).
Individual income tax: credit; credit for fostering animals; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 285.
Individual income tax: flow-through entities; sourcing and apportionment provisions; update. Amends secs. 102, 103, 105, 110, 112, 115, 122 & 123 of 1967 PA 281 (MCL 206.102 et seq.) & repeals secs. 111, 113, 114, 131, 132, 133 & 134 of 1967 PA 281 (MCL 206.111 et seq.).
Corporate income tax: revenue distribution; distribution of revenue; modify. Amends sec. 51 of 1967 PA 281 (MCL 206.51); adds secs. 51a & 695a & repeals secs. 51d - 51f, 51h, 476 & 695 of 1967 PA 281 (MCL 206.51d - 206.51f, 206.51h, 206.476 & 206.695).
Individual income tax: deductions; deduct overtime compensation from taxable income; provide for. Amends secs. 30, 701, 703 & 711 of 1967 PA 281 (MCL 206.30 et seq.).
Individual income tax: credit; child tax credit; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 275.
Individual income tax: returns; extension of filing deadline for income taxes under certain circumstances; authorize. Amends sec. 301a of 1967 PA 281 (MCL 206.301a).