SBT CREDIT FOR DICTIONARIES REDUCED IN PRICE

House Bill 4833

Sponsor: Rep. Derrick Hale

Committee: Tax Policy

Complete to 8-30-01

A SUMMARY OF HOUSE BILL 4833 AS INTRODUCED 5-30-01

The bill would amend the Single Business Tax Act to allow a publishing company to claim a credit when it sells low-cost dictionaries to public schools and public school academies (charter schools) for use by students. By "low cost", the bill would mean dictionaries sold below the price ordinarily charged (taking into account any regularly offered discounts). The credit would be equal to the difference between the ordinary cost of the dictionaries and the cost to the schools, but the credit could not exceed 50 percent of the taxpayer's SBT liability. The bill would apply to tax years beginning after December 31, 2001.

MCL 208.39d

 

Analyst: C. Couch

_____________________________________________________________________________________________________________________

This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.