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| TAX OUTLINE |
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| TAX DESCRIPTIONS |
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| CORPORATE ORGANIZATION |
LEGAL CITATION: |
M.C.L. 450.2062; 1972 PA 284. |
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| YEAR ADOPTED: |
1891 |
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| BASIS OF TAX: |
Privilege of incorporating, renewing, and exercising franchise. |
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| MEASURE OF TAX (BASE): |
Domestic -- authorized capital stock; Foreign -- capital stock attributable to Michigan. |
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| RATE: |
Domestic -- $50 initially for first 60,000 shares (and $30 for each additional 20,000 shares and with increase in stock); Foreign -- $50 initially for shares deemed attributable to Michigan ($30 for each 20,000 share increase in stock). |
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| ADMINISTRATION: |
Michigan Department of Labor and Economic Growth, Bureau of Commercial Services, Corporation Division. |
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| REPORT AND PAYMENT: |
Due at time of incorporation, admission, or increase in stock. |
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| DISPOSITION: |
General Fund. |
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| 2004-05 COLLECTIONS: |
$20,188,000 |
Last Updated January 10, 2007
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