Mich. Comp. Laws § 21.276
This is the official text of Mich. Comp. Laws § 21.276, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Reporting estimate of amount of tax forgone from exemptions under the use tax act.
Official statutory text
Sec. 6.
(1) The governor shall report an estimate, by item, of the amount of tax forgone from exemptions granted under the use tax act, 1937 PA 94, MCL 205.91 to 205.111. The estimate must include revenue forgone by nontaxation of items not specifically exempted.
(2) The governor shall report an estimate of the amount of tax forgone pursuant to section 2(1)(f) of the use tax act, 1937 PA 94, MCL 205.92, from the imposition of the tax on the difference between the agreed-upon value of a motor vehicle, recreational vehicle, or titled watercraft used as part payment of the purchase price and the full retail price of the motor vehicle, recreational vehicle, or titled watercraft being purchased rather than on the full retail price of the motor vehicle, trailer coach, or titled watercraft.
History: 1979, Act 72, Imd. Eff. July 31, 1979; Am. 1983, Act 7, Imd. Eff. Mar. 16, 1983; Am. 2023, Act 29, Imd. Eff. May 8, 2023
(1) The governor shall report an estimate, by item, of the amount of tax forgone from exemptions granted under the use tax act, 1937 PA 94, MCL 205.91 to 205.111. The estimate must include revenue forgone by nontaxation of items not specifically exempted.
(2) The governor shall report an estimate of the amount of tax forgone pursuant to section 2(1)(f) of the use tax act, 1937 PA 94, MCL 205.92, from the imposition of the tax on the difference between the agreed-upon value of a motor vehicle, recreational vehicle, or titled watercraft used as part payment of the purchase price and the full retail price of the motor vehicle, recreational vehicle, or titled watercraft being purchased rather than on the full retail price of the motor vehicle, trailer coach, or titled watercraft.
History: 1979, Act 72, Imd. Eff. July 31, 1979; Am. 1983, Act 7, Imd. Eff. Mar. 16, 1983; Am. 2023, Act 29, Imd. Eff. May 8, 2023
Status: in_force · Read it on the official government site
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