USE TAX: LLC - S.B. 1370: FLOOR ANALYSIS
Senate Bill 1370 (as introduced 5-30-02)
Sponsor: Senator Joanne G. Emmons
Committee: Finance
CONTENT
The bill would amend the Use Tax Act to include a limited liability company in the Act's definition of "person".
The Act levies the use tax on every person in the State for the privilege of using, storing, or consuming tangible personal property in Michigan; and defines "person" as an individual, firm, partnership, or other entity listed in the Act.
Also, the Act imposes the tax for the privilege of using, storing, or consuming a vehicle, off-road vehicle, aircraft, snowmobile, watercraft, or mobile home; and specifies requirements for collection of the tax on those products. The bill would replace references to a mobile home with references to "manufactured housing".
MCL 205.92 & 205.93 - Legislative Analyst: George Towne
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 6-3-02 - Fiscal Analyst: Jay WortleyFloor\sb1370 - Bill Analysis @ http://www.senate.state.mi.us/sfa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.