Adapts new federal partnership audit regime under gross income tax, ends COVID-related State tax extensions, and eliminates requirement to affirmatively elect New Jersey S Corporation status.
Individual income tax: other; employment withholdings redirected from the state to certain community colleges for the new jobs training program; clarify application to professional employer organizations. Amends secs. 703, 705 & 711 of 1967 PA 281 (MCL 206.703 et seq.). TIE BAR WITH: SB 0425'25
Individual income tax: revenue distributions; deposit into the good jobs for Michigan fund; revise to reflect the name change of the fund. Amends secs. 51f & 711 of 1967 PA 281 (MCL 206.51f & 206.711). TIE BAR WITH: SB 0579'23, SB 0580'23
Individual income tax: revenue distributions; earmark of withholding tax capture revenues into the more jobs for Michigan fund; provide for. Amends sec. 51f & 711 of 1967 PA 281 (MCL 206.51f & 206.711).
Individual income tax: revenue distributions; deposit into the good jobs for Michigan fund; revise to reflect the name change of the fund. Amends secs. 51f & 711 of 1967 PA 281 (MCL 206.51f & 206.711). TIE BAR WITH: HB 5413'24