Section 206.635 – Tax on Insurance Company; Imposition and Levy; Direct Premiums; Qualified Health Insurance Policies; Exemption.
206.635 Tax on insurance company; imposition and levy; direct premiums; qualified health insurance policies; exemption. Sec. 635. (1) Except as otherwise provided under subsection (4) or (6), each insurance company shall pay a tax determined under this chapter. (2) The tax imposed by this chapter on each insurance company shall be a tax equal to […]
Section 206.673 – Tax Credit Under Former 1975 Pa 228, or 2007 Pa 36, MCL 208.1101 to 208.1601, or MCL 208.1403; Effect of Failure to Comply With Terms of Agreement or Movement, Sale, Transfer, or Disposal of Property.
206.673 Tax credit under former 1975 PA 228, or 2007 PA 36, MCL 208.1101 to 208.1601, or MCL 208.1403; effect of failure to comply with terms of agreement or movement, sale, transfer, or disposal of property. Sec. 673. (1) A taxpayer that has claimed a credit under former 1975 PA 228 or under the Michigan […]
Section 206.637 – Tax Credit; Calculation; Assessments of Insurance Company From Immediately Preceding Tax Year; Payments to Michigan Automobile Insurance Placement Facility Attributable to Assigned Claims Plan.
206.637 Tax credit; calculation; assessments of insurance company from immediately preceding tax year; payments to Michigan automobile insurance placement facility attributable to assigned claims plan. Sec. 637. (1) Except as otherwise provided under subsection (3), an insurance company may claim a credit against the tax imposed under this chapter in the following amounts: (a) Amounts […]
Section 206.675 – Flow-Through Entity Members; Tax Credit for Tax Paid by the Flow-Through Entity; Refundable.
206.675 Flow-through entity members; tax credit for tax paid by the flow-through entity; refundable. Sec. 675. (1) Except as otherwise provided under this section, for tax years beginning on and after January 1, 2021, a taxpayer who is either a member of a flow-through entity that elects to file a return and pay the tax […]
Section 206.639 – Tax Credit in Amount Equal to 50% of Examination Fees Paid by Insurance Company.
206.639 Tax credit in amount equal to 50% of examination fees paid by insurance company. Sec. 639. An insurance company shall be allowed a credit against the tax imposed under this chapter in an amount equal to 50% of the examination fees paid by the insurance company during the tax year pursuant to section 224 […]
Section 206.676 – Rehabilitation of Historic Resource; Tax Credit; Plan; Certification; Revocation of Certificate or Sale of Historic Resource; Rules; Report; Definitions.
206.676 Rehabilitation of historic resource; tax credit; plan; certification; revocation of certificate or sale of historic resource; rules; report; definitions. Sec. 676. (1) Subject to the limitations under this section, a qualified taxpayer with a certificate of completed rehabilitation issued pursuant to subsection (4) after December 31, 2020 and before January 1, 2031 may credit […]
Section 206.641 – Amounts Paid Pursuant to MCL 418.352; Tax Credit; Refund of Excess Amount.
206.641 Amounts paid pursuant to MCL 418.352; tax credit; refund of excess amount. Sec. 641. (1) For amounts paid pursuant to section 352 of the worker’s disability compensation act of 1969, 1969 PA 317, MCL 418.352, an insurance company subject to the worker’s disability compensation act of 1969, 1969 PA 317, MCL 418.101 to 418.941, […]
Section 206.643 – Imposition of Tax on Insurance Company; Tax Year; Annual Return; Calculation of Estimated Payment; Disclosure.
206.643 Imposition of tax on insurance company; tax year; annual return; calculation of estimated payment; disclosure. Sec. 643. (1) An insurance company is subject to the tax imposed by this chapter or by section 476a of the insurance code of 1956, 1956 PA 218, MCL 500.476a, if applicable, whichever is greater. (2) The tax year […]
Section 206.651 – Definitions.
206.651 Definitions. Sec. 651. As used in this chapter: (a) “Billing address” means the location indicated in the books and records of the financial institution on the first day of the tax year or on a later date in the tax year when the customer relationship began as the address where any notice, statement, or […]
Section 206.653 – Franchise Tax.
206.653 Franchise tax. Sec. 653. (1) Every financial institution with substantial nexus in this state is subject to a franchise tax. The franchise tax is imposed upon the tax base of the financial institution as determined under section 655 after allocation or apportionment to this state, at the rate of 0.29%. (2) For purposes of […]