Corporate income tax: deductions; federal deduction for certain outsourcing expenses; add back. Amends sec. 623 of 1967 PA 281 (MCL 206.623).

Summary

The bill changes how Michigan corporations calculate their taxable income, adding back certain outsourcing expenses and eliminating tax benefits for oil, gas, and mineral income. It also sets the corporate tax rate at 6% and updates rules for losses, dividends, royalties and related‑party payments. The changes affect any corporation or flow‑through entity doing business in the state.

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