Michigan Laws 205.107 – Computation of tax amount; rounding up to whole cent
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 205.107
- Seller: means the person from whom a purchase is made and includes every person selling tangible personal property or services for storage, use, or other consumption in this state. See Michigan Laws 205.92
- Tax: includes all taxes, interest, or penalties levied under this act. See Michigan Laws 205.92
Beginning not later than January 1, 2006, in determining the amount of the tax under this act, the seller shall compute the tax to the third decimal place and round up to a whole cent when the third decimal place is greater than 4 or round down to a whole cent when the third decimal place is 4 or less.