SALES TAX LICENSE FEE - H.B. 5992: FLOOR ANALYSIS
House Bill 5992 (as reported without amendment)
Sponsor: Representative Gene DeRossett
House Committee: Tax Policy
Senate Committee: Finance
CONTENT
The bill would amend the General Sales Tax Act to eliminate the requirement that a person pay a $1 registration fee when obtaining an annual sales tax license.
MCL 205.53 - Legislative Analyst: George Towne
FISCAL IMPACT
The bill would reduce sales tax revenue by an estimated $150,000 a year. This loss in revenue would affect State government by reducing School Aid Fund revenue $110,000 and General Fund $3,000. In addition, revenue sharing would be reduced $37,000, which would have an impact on local governments.
Date Completed: 5-24-02 - Fiscal Analyst: Jay WortleyFloor\hb5992 - 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.