SBT FILING THRESHOLD:

REPLACE WITH EXEMPTION



House Bill 5006

Sponsor: Rep. John Pappageorge

Committee: Tax Policy


Complete to 5-1-00



A SUMMARY OF HOUSE BILL 5006 AS INTRODUCED 10-19-99


The Single Business Tax Act contains a gross receipts filing threshold of $250,000. That is, a firm with apportioned or allocated gross receipts below that amount need not file a return or pay the tax. The bill would make that threshold apply only for tax years before January 1, 2000 and replace the filing threshold from then on with a $250,000 exemption. That is, all firms would be able to deduct $250,000 from their tax base.


MCL 208.9 and 208.73























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.