March 18, 2004, Introduced by Senator SANBORN and referred to the Committee on Finance.
A bill to amend 1893 PA 206, entitled
"The general property tax act,"
(MCL 211.1 to 211.157) by adding section 9j.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 9j. (1) For taxes levied after December 31, 2004,
2 $10,000.00 of the aggregate taxable value of the personal
3 property of a qualified small business is exempt from the
4 collection of taxes under this act as provided in this section.
5 (2) A qualified small business shall do all of the following
6 each tax year to claim an exemption under this section:
7 (a) Identify the taxpayer as a qualified small business and
8 claim the exemption under this section on the statement required
9 under section 19. The statement required under section 19 shall
10 be submitted whether or not the aggregate taxable value of the
11 personal property identified in the statement is less than or
1 equal to $10,000.00.
2 (b) Transmit a copy of the statement submitted under section
3 19 identifying the taxpayer as a qualified small business and
4 claiming the exemption under this section to the state tax
5 commission.
6 (c) Permit a designee of the local tax collecting unit who
7 is a certified assessor access to the books and records of the
8 qualified small business that are necessary to determine if the
9 qualified small business is eligible to claim the exemption under
10 this section. A person is not required to be a certified
11 personal property examiner to examine books and records pursuant
12 to this subdivision.
13 (3) A qualified small business with personal property
14 subject to the collection of taxes under this act in more than 1
15 local tax collecting unit may claim the exemption under this
16 section in 1 local tax collecting unit only.
17 (4) As used in this section:
18 (a) "Qualified small business" means a business concern
19 incorporated or doing business in this state, including the
20 affiliates of the business concern, which has gross annual sales
21 of less than $5,000,000.00.
22 (b) "Sales" means that term as defined in section 7 of the
23 single business tax act, 1975 PA 228, MCL 208.7.