Michigan Laws 205.94h – Tax inapplicable to property for use in qualified business activity
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 205.94h
- Business: means all activities engaged in by a person or caused to be engaged in by a person with the object of gain, benefit, or advantage, either direct or indirect. See Michigan Laws 205.92
- Personal property: All property that is not real property.
- Tax: includes all taxes, interest, or penalties levied under this act. See Michigan Laws 205.92
The tax levied under this act does not apply to tangible real or personal property to the extent the tangible real or personal property is used in a qualified business activity of the purchaser. 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.