SB 0514
Corporate income tax: credits; distributor credit for returnable containers; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding secs. 279 & 679. TIE BAR WITH: SB 512'25
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- Passed Senate
- Passed House
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Bill overview
```json { "summary": "This bill creates a tax credit for distributors of beverage containers that are returnable. Starting in 2026, distributors can claim a credit of $0.005 per returnable container sold. The credit amount will increase each year based on the Consumer Price Index. To qualify, distributors must report container sales using a specific form and the credit can be allocated to partners, members, or shareholders of a business.", "keyProvisions": [ "Establishes a $0.005 per returnable container tax credit for beverage container distributors.", "The credit amount adjusts annually based on the US Consumer Price Index.", "Distributors must report container sales using a specific form.", "Partnerships, LLCs, and S corporations can claim the credit based on ownersh
Sponsors
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Primary sponsor
Jon C. Bumstead
Cosponsors
Joseph N. Bellino Jr.
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