Michigan enacts series of corporate income tax amendments

myStateTaxOffice

Michigan Governor Snyder signed a series of bills that amend provisions of the newly-enacted corporate income tax. The new tax, along with these amendments, takes effect on January 1, 2012. The enacted measures address a variety of subjects, including unitary groups, financial institutions, apportionment, nexus standards, foreign persons, credits, and receipts from flow-through entities. In addition, a bill amending Michigan Business Tax provisions relating to short-year returns and credits was signed by the Governor on October 26, 2011.



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