Michigan Laws > Chapter 205 > Act 174 of 2004 – Streamlined Sales and Use Tax Administration Act
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws > Chapter 205 > Act 174 of 2004 - Streamlined Sales and Use Tax Administration Act
- Agreement: means the streamlined sales and use tax agreement. See Michigan Laws 205.803
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Board: means the governing board under the agreement. See Michigan Laws 205.803
- Certified automated system: means computer software certified under the agreement to calculate the tax imposed by each jurisdiction on a transaction, determine the amount of tax to remit to the appropriate state, and maintain a record of the transaction. See Michigan Laws 205.803
- Certified public accountant: means an individual who is either of the following:
(i) Qualified by education, examination, and experience to engage or offer to engage in the practice of public accounting as evidenced by the issuance of a certificate as a certified public accountant under section 725 or 726 and a license or registration issued under section 727. See Michigan Laws 339.720Certified service provider: means an agent certified under the agreement to perform all of the seller's sales and use tax functions, other than the seller's obligation to remit tax on its own purchases. See Michigan Laws 205.803 Client: means an individual or entity that engages a licensee or licensee's employer to receive any service in the practice of public accounting. See Michigan Laws 339.720 Client: means a person that contracts with, or otherwise enters into an agreement with, an appraisal management company for the performance of real estate appraisal services. See Michigan Laws 339.2661 Collection agency: means a person that is directly engaged in collecting or attempting to collect a claim owed or due or asserted to be owed or due another, or, subject to subsection (2), repossessing or attempting to repossess a thing of value owed or due or asserted to be owed or due another arising out of an expressed or implied agreement. See Michigan Laws 339.901 Collection agency manager: means the individual responsible for the operation of a collection agency. See Michigan Laws 339.901 Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Contract: A legal written agreement that becomes binding when signed. Conviction: A judgement of guilt against a criminal defendant. Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. debt: means an obligation or alleged obligation for the payment of money or thing of value arising out of an expressed or implied agreement or contract for a purchase made primarily for personal, family, or household purposes. See Michigan Laws 339.901 debtor: means an individual who is obligated or allegedly obligated to pay a debt. See Michigan Laws 339.901 Department: means the department of treasury. See Michigan Laws 205.803 Escrow: Money given to a third party to be held for payment until certain conditions are met. Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Fiduciary: A trustee, executor, or administrator. Firm: means a corporation, partnership, limited liability company, unincorporated association, sole proprietorship operating under an assumed name, or other legal entity. See Michigan Laws 339.720 Fraud: Intentional deception resulting in injury to another. Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC General sales tax act: means 1933 PA 167, MCL 205. See Michigan Laws 205.803 in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Member state: means a state that has entered into the agreement. See Michigan Laws 205.803 Minority leader: See Floor Leaders month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Office: means a regular place of business where complete records are kept of collections and claims handled by a licensee. See Michigan Laws 339.901 Oversight: Committee review of the activities of a Federal agency or program. Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Person: means an individual, trust, estate, fiduciary, partnership, limited liability company, limited liability partnership, corporation, or any other legal entity. See Michigan Laws 205.803 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Personal property: All property that is not real property. practice of public accounting: means rendering or offering to render an opinion on or attesting to or offering to attest to the reliability of a representation or estimate, including, but not limited to, the giving of an opinion in substance that 1 or more of the following types of information concerning the entity that is the subject of the opinion present fairly the condition of the entity:
(i) Financial or other information about which the opinion is given. See Michigan Laws 339.720principal: means a person that offers or extends credit creating a debt or a person to which a debt is owed or due or asserted to be owed or due. See Michigan Laws 339.901 Principal place of business: means the office location designated by the licensee for the purposes of substantial equivalency and reciprocity. See Michigan Laws 339.720 Purchaser: means a person to whom a sale of tangible personal property is made or to whom a service is furnished. See Michigan Laws 205.803 Report: when used with reference to an attest or compilation service, means an opinion, report, or other form of language that states or implies assurance as to the reliability of attested information or compiled financial statements and that also includes, or is accompanied by, any statement or implication that the individual or firm issuing it has special knowledge or competence in accounting or auditing. See Michigan Laws 339.720 Sales tax: means the tax levied under the general sales tax act. See Michigan Laws 205.803 Seller: means any person who sells, leases, or rents tangible personal property or services to another person. See Michigan Laws 205.803 State: means any state of the United States or the District of Columbia. See Michigan Laws 205.803 state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o Statute of limitations: A law that sets the time within which parties must take action to enforce their rights. Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC United States: shall be construed to include the district and territories. See Michigan Laws 8.3o Use tax: means the tax levied under the use tax act. See Michigan Laws 205.803 Use tax act: means 1937 PA 94, MCL 205. See Michigan Laws 205.803 Voluntary seller: means a seller who does not have a requirement to obtain a license or register to collect the sales or use tax for this state. See Michigan Laws 205.803