Section 206.847 – Imposition of Tax; Subject to Certain State and Local Tax Deduction Limitations Under the Internal Revenue Code.
206.847 Imposition of tax; subject to certain state and local tax deduction limitations under the internal revenue code. Sec. 847. The tax created under this part is levied and imposed for any tax year that section 164(b)(6)(B) of the internal revenue code limits the amount an individual is allowed to deduct under section 164(a) of […]
Section 206.835 – Furnishing Copy of Return Filed Under Internal Revenue Code; Amended Return.
206.835 Furnishing copy of return filed under internal revenue code; amended return. Sec. 835. (1) A taxpayer required to file a return under this part may be required to furnish a true and correct copy of any return or portion of any return filed under the provisions of the internal revenue code. (2) A taxpayer […]
Section 206.837 – Added Interest; Exception for 2021 Refunds.
206.837 Added interest; exception for 2021 refunds. Sec. 837. For tax years ending in 2021 only, if a taxpayer elects to pay the tax under section 813 for the tax year ending in 2021 and the annual return filed under this part for that tax year results in a refund, that refund is not subject […]
Section 206.839 – Non-Electing Flow-Through Entity; Reporting of Information Required by Internal Revenue Code; Estate or Trust Reporting Requirements.
206.839 Non-electing flow-through entity; reporting of information required by internal revenue code; estate or trust reporting requirements. Sec. 839. (1) A taxpayer or a flow-through entity that did not make the election under section 813 shall provide on or before the due date of the return under section 833, upon the amendment of a return […]
Section 206.841 – Administration of Tax; Conflicting Provisions; Rules; Forms; Additional Tax Liability; Statistics Detailing Distribution of Tax Receipts.
206.841 Administration of tax; conflicting provisions; rules; forms; additional tax liability; statistics detailing distribution of tax receipts. Sec. 841. (1) The tax imposed by this part shall be administered by the department of treasury pursuant to 1941 PA 122, MCL 205.1 to 205.31, and this part. If a conflict exists between 1941 PA 122, MCL […]
Section 206.843 – Distribution to State School Aid Fund; Balance to General Fund.
206.843 Distribution to state school aid fund; balance to general fund. Sec. 843. From the tax levied under this part, that percentage of the gross collections before refunds that is equal to 1.012% divided by the tax rate levied under this part shall be deposited in the state school aid fund created in section 11 […]
Section 206.845 – Classification as Disregarded Entity for Federal Income Tax Purposes.
206.845 Classification as disregarded entity for federal income tax purposes. Sec. 845. Notwithstanding any other provision of this act, a person that is a disregarded entity for federal income tax purposes under the internal revenue code shall be classified as a disregarded entity for purposes of this part. History: Add. 2021, Act 135, Imd. Eff. […]
Section 206.831 – Estimated Payments and Quarterly Returns.
206.831 Estimated payments and quarterly returns. Sec. 831. (1) Except as otherwise provided under this section, a taxpayer that reasonably expects liability for the tax year to exceed $800.00 shall file an estimated return and pay an estimated tax for each quarter of the taxpayer’s tax year in the same manner as provided in section […]
Section 206.833 – Annual or Final Return; Filing; Form and Content; Remittance of Final Liability; Information Return; Extension.
206.833 Annual or final return; filing; form and content; remittance of final liability; information return; extension. Sec. 833. (1) An annual or final return for the tax imposed under this part shall be filed with the department in the form and content prescribed by the department by the last day of the third month after […]