Section 206.20 – Sales and State; Definitions.
206.20 Sales and state; definitions. Sec. 20. (1) “Sales” means all gross receipts of the taxpayer not allocated under sections 110 to 114. (2) “State” means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country, or political […]
Section 206.22 – “Tax” and “Taxable Value” Defined.
206.22 “Tax” and “taxable value” defined. Sec. 22. (1) “Tax” includes interest and penalties and further includes the tax required to be withheld on income under part 3, unless the intention to give it a more limited meaning is disclosed by the context. (2) “Taxable value” means taxable value as calculated under section 27a of […]
Section 206.24 – “Tax Year” or “Taxable Year” Defined.
206.24 “Tax year” or “taxable year” defined. Sec. 24. “Tax year” or “taxable year” means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which taxable income is computed under this part. In the case of a return made for a fractional part of a year, the term […]
Section 206.26 – “Taxpayer” Defined.
206.26 “Taxpayer” defined. Sec. 26. “Taxpayer” means any person subject to the taxes imposed by this part or subject to the withholding requirements under part 3. History: 1967, Act 281, Eff. Oct. 1, 1967 ;– Am. 2003, Act 50, Eff. Oct. 1, 2003 ;– Am. 2011, Act 38, Eff. Jan. 1, 2012 ;– Am. 2016, […]
Section 206.28 – Repealed. 2011, Act 38, Eff. Jan. 1, 2012.
206.28 Repealed. 2011, Act 38, Eff. Jan. 1, 2012. Compiler’s Notes: The repealed section pertained to definition of “taxable income” or “net income”.
Section 206.30 – “Taxable Income” Defined; Personal Exemption; Single Additional Exemption; Deduction Not Considered Allowable Federal Exemption for Purposes of Subsection (2); Allowable Exemption or Deduction for Nonresident or Part-Year Resident; Subtraction of Prizes Under MCL 432.1 to 432.47 From Adjusted Gross Income Prohibited; Adjusted Personal Exemption; “Retirement or Pension Benefits” Defined; Limitations and Restrictions; Treatment of Surviving Spouses; Definitions.
206.30 “Taxable income” defined; personal exemption; single additional exemption; deduction not considered allowable federal exemption for purposes of subsection (2); allowable exemption or deduction for nonresident or part-year resident; subtraction of prizes under MCL 432.1 to 432.47 from adjusted gross income prohibited; adjusted personal exemption; “retirement or pension benefits” defined; limitations and restrictions; treatment of […]
Section 206.1 – Income Tax Act of 1967; Short Title.
206.1 Income tax act of 1967; short title. Sec. 1. This act is for the purpose of meeting deficiencies in state funds and shall be known and may be cited as the “income tax act of 1967”. History: 1967, Act 281, Eff. Oct. 1, 1967
Section 206.2 – Income Tax Act; Rules of Construction; Internal Revenue Code, Applicability.
206.2 Income tax act; rules of construction; internal revenue code, applicability. Sec. 2. (1) For the purposes of this part, the words, terms and phrases set forth in this chapter and their derivations have the meaning given therein. When not inconsistent with the context, words used in the present tense include the future, words in […]
Section 206.4 – “Business Income” Defined.
206.4 “Business income” defined. Sec. 4. “Business income” means all income arising from transactions, activities, and sources in the regular course of the taxpayer’s trade or business and includes the following: (a) All income from tangible and intangible property if the acquisition, rental, management, or disposition of the property constitutes integral parts of the taxpayer’s […]
Section 206.6 – “Commercial Domicile,” “Compensation,” and “Corporation” Defined.
206.6 “Commercial domicile,” “compensation,” and “corporation” defined. Sec. 6. (1) “Commercial domicile” means the principal place from which the trade or business of the taxpayer is directed or managed. (2) “Compensation” means wages as defined in section 3401 and other payments as provided in section 3402 of the internal revenue code. (3) “Corporation” means, in […]