Individual income tax: other; employment withholdings redirected from the state to certain community colleges for the new jobs training program; clarify application to professional employer organizations. Amends secs. 703, 705 & 711 of 1967 PA 281 (MCL 206.703 et seq.). TIE BAR WITH: SB 425'25
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill redirects a portion of Michigan’s individual income tax withholdings, typically paid to the state, to select community colleges. It aims to fund new job training programs. The bill clarifies how these withholdings apply to professional employer organizations (PEOs) and establishes specific rules for calculating and distributing these funds to the colleges. It also includes provisions for annual reporting and reconciliation of withheld taxes.
Key provisions
- Redirects a portion of individual income tax withholdings to designated community colleges.
- Clarifies the application of withholding requirements for professional employer organizations (PEOs).
- Establishes rules for calculating and distributing funds to community colleges for new job training programs.
- Requires flow-through entities to withhold taxes on distributive shares of income under certain conditions.
- Specifies withholding requirements for casinos, race meeting licensees, and track licensees.
- Addresses annual reconciliation reporting requirements for employers and flow-through entities.
- Provides a mechanism for revocation of exemption certificates if terms are not met.
- Allows for exceptions to withholding requirements based on specific program restrictions.
Who is affected
- Individuals paying Michigan income taxes
- Employers subject to Michigan income tax withholding
Bill text
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Document of record
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- Senate Introduced Bill
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