SB1050 — Corporate income tax: flow-through entities; treatment of certain limited liability companies as a corporation; provide for. Amends secs. 12, 607, 699, 701, 805 & 845 of 1967 PA 281 (MCL 206.12 et seq.) & adds sec. 339.

SB1050 — Corporate income tax: flow-through entities; treatment of certain limited liability companies as a corporation; provide for. Amends secs. 12, 607, 699, 701, 805 & 845 of 1967 PA 281 (MCL 206.12 et seq.) & adds sec. 339. · Informed CitizenryThis bill amends the Income Tax Act of 1967 to modify the definitions and tax treatment of flow-through entities, specifically regarding limited liability companies (LLCs) and their members. It cla…Open in Informed Citizenry