Section 206.661 – Tax Base; Apportionment; Taxpayer Subject to Tax Within State, Within and Outside State, or in Another State.
206.661 Tax base; apportionment; taxpayer subject to tax within state, within and outside state, or in another state. Sec. 661. (1) Except as otherwise provided in this part, the tax base established under this part shall be apportioned in accordance with this chapter. (2) The tax base of a taxpayer whose business activities are confined […]
Section 206.609 – Definitions; P to S.
206.609 Definitions; P to S. Sec. 609. (1) “Person” means an individual, bank, financial institution, insurance company, association, corporation, flow-through entity, receiver, estate, trust, or any other group or combination of groups acting as a unit. (2) “Professional employer organization” means an organization, other than an organization whose business activities are included in industry group […]
Section 206.611 – Definitions; T to U.
206.611 Definitions; T to U. Sec. 611. (1) “Tangible personal property” means that term as defined in section 2 of the use tax act, 1937 PA 94, MCL 205.92. (2) “Tax” means the tax imposed under this part, including interest and penalties under this part, unless the term is given a more limited meaning in […]
Section 206.621 – Nexus; “Actively Solicits” and “Physical Presence” Defined.
206.621 Nexus; “actively solicits” and “physical presence” defined. Sec. 621. (1) Except as otherwise provided in this part, a taxpayer has substantial nexus in this state and is subject to the tax imposed under this part if the taxpayer has a physical presence in this state for a period of more than 1 day during […]
Section 206.623 – Corporate Income Tax; Levy and Imposition; Base; Adjustments; Business Income of Unitary Business Group; “Business Loss” and “Oil and Gas” Defined.
206.623 Corporate income tax; levy and imposition; base; adjustments; business income of unitary business group; “business loss” and “oil and gas” defined. Sec. 623. (1) Except as otherwise provided in this part, there is levied and imposed a corporate income tax on every taxpayer with business activity within this state or ownership interest or beneficial […]
Section 206.601 – Meanings of Terms; Other Provisions.
206.601 Meanings of terms; other provisions. Sec. 601. A term used in this part and not defined differently shall have the same meaning as when used in comparable context in the laws of the United States relating to federal income taxes in effect for the tax year unless a different meaning is clearly required. A […]
Section 206.603 – Definitions; A, B.
206.603 Definitions; A, B. Sec. 603. (1) “Affiliated group” means that term as defined in section 1504 of the internal revenue code except that it shall include all United States persons that are corporations, insurance companies, or financial institutions, other than a foreign operating entity, that are commonly owned, directly or indirectly, by any member […]
Section 206.605 – Definitions; C to E.
206.605 Definitions; C to E. Sec. 605. (1) “Corporation” means a person that is required or has elected to file as a C corporation as defined under section 1361(a)(2) and section 7701(a)(3) of the internal revenue code. Corporation does not include an insurance company or a financial institution. (2) “Department” means the department of treasury. […]
Section 206.607 – Definitions; F to M.
206.607 Definitions; F to M. Sec. 607. (1) “Federal taxable income” means taxable income as defined in section 63 of the internal revenue code, except that federal taxable income shall be calculated as if section 168(k) and section 199 of the internal revenue code were not in effect. (2) “Flow-through entity” means an entity that […]