Michigan Laws 205.54j – Sale of tangible personal property for use in qualified business activity of purchaser; definition
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(1) A sale of tangible personal property used in a qualified business activity of the purchaser is exempt from the tax under this act.
(2) As used in this section, “qualified business activity” means that term as defined in the enterprise zone act, 1985 PA 224, MCL 125.2101 to 125.2123.
Terms Used In Michigan Laws 205.54j
- Business: includes an activity engaged in by a person or caused to be engaged in by that person with the object of gain, benefit, or advantage, either direct or indirect. See Michigan Laws 205.51
- Personal property: All property that is not real property.
- Tax: includes a tax, interest, or penalty levied under this act. See Michigan Laws 205.51